Montage Technology shares drop 22.9pc amid fair trade violation suspicions

China's  memory interface chipmaker Montage Technology (6809) saw shares price plunge 22.95 percent to HK$278 on Thursday after its office was raided by South Korean prosecutors. 

South Korean prosecutors raided the offices of Montage Technology, Japanese chipmaker Renesas Electronics and US semiconductor design firm Rambus on Wednesday, on suspicion of violating fair trade acts and manipulating prices. 

It was reported that the prosecutors will further investigate the possibility of information exchange among the three companies.

Montage Technology stated that it has always operated in compliance with regulations and will actively cooperate with the investigation. 

The three companies are major chip suppliers in the global market, with customers including memory semiconductor giants such as Samsung Electronics, SK Hynix, and Micron.

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