Hot stock: Nanofilm falls to near one-month low amid tech stocks rout

SHARES of Nanofilm Technologies closed at nearly a one-month low on Thursday (Jun 22) amid higher-than-average trading volumes. Several technology-related counters were also in the red.

Nanofilm, which specialises in advanced materials and coatings, reached S$1.44 minutes after the market opened, losing as much as 7.7 per cent or S$0.12. The last time the counter closed near this level was on May 23.

By 11.34 am, the counter was down 6.4 per cent or S$0.10 to S$1.46, with about 2.1 million shares changing hands, outpacing its previous day’s trading volume of 411,500 shares. There were no married deals recorded based on ShareInvestor data.

Trading in the counter closed at S$1.46 with 3.6 million shares transacted.

Aztech Global , which provides tech solutions, was down by 4.2 per cent and closed near its one-month low at S$0.685.

High-precision tools and parts manufacturer Micro-Mechanics share price logged an almost 52-week low at S$1.69 after dropping 0.6 per cent. So did mainboard-listed Creative Technology , which declined by 5.3 per cent to S$1.25 and nearly at its 52-week low.

AEM , which provides advanced chip testing solutions, was 0.3 per cent lower at S$3.68 while chip player Frencken declined 2.2 per cent to S$0.895 at market close.

Another semiconductor firm UMS decreased by 1.9 per cent to S$1.02.

Straits Times Index constituent Venture Corporation slipped 0.9 per cent to S$15.07.

Electronics manufacturing services provider Valuetronics was flat at S$0.55.

On Jun 11, mainboard-listed Nanofilm said it appointed a new chief commercial officer and redesignated its chief commercial and strategy officer, Gian Yi Hsen, as chief strategy officer.

In April, Nanofilm posted a 40 per cent fall in revenue to S$33 million for its first quarter ended Mar 31, 2023. The company attributed the fall to cyclical reasons and a slow and soft recovery in China since its reopening.