Hi-P +1.3%; But tech recovery concerns eyed

Hi-P is up 1.3% at $0.79, retracing some of Monday’s 7.1% drop after it issued a profit warning. “The tech recovery is not going to be all that strong, especially in the third and fourth quarters, which are traditionally stronger periods,” says Carey Wong, an analyst at OCBC, noting forecast cuts for Hi-P. Orderbook quotes suggest the stock will struggle to retest its $0.80 intraday high.