Shares of MONTAGE TECH plummeted 8.24% during intraday trading, as the semiconductor sector faced widespread selling pressure. The decline comes after a strong rally in the prior week, when the stock surged over 27% on its A-share listing, buoyed by a robust earnings preview and a large share buyback plan.

The sell-off was not isolated to MONTAGE TECH; peers such as HUA HONG GRACE, GIGADEVICE, ILUVATAR COREX, BIREN TECH, and SMIC also recorded sharp declines. Traders attributed the pullback to profit-taking after the recent run-up, as well as lingering concerns over a Korean antitrust investigation into the memory interface chip industry that had triggered a mid-July sell-off.

The broad-based weakness reflects a sector-wide rotation as investors reassess valuations following the rapid gains in semiconductor stocks.