ASMPT clarified that while the visibility into 2H15 is not as good as last year,it is normal in a typical year.It is confident of outgrowing the market.We arerelatively more positive on SMT as ASMPT will launch new products to improvecompetitiveness and penetrate into new segments.However,with a slow capexenvironment this year and full valuation on the stock,we maintain Hold andHK$79 PT.Further yen weakness will pressure the stock in the near term.
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