STOCKS | Lenovo Falls 11.1% As Intel Reportedly Plans Another 10% PC CPU Price Hike

Lenovo Group (00992) fell 11.1% to HK$28.78, with about 34.91 million shares traded for HK$1.047 billion. Lenovo Holdings (03396) dropped 9.53% to HK$17.27. ETNet reported that Intel (INTC.US) is set to raise prices for its PC CPUs by another 10% next month, after several increases this year. The report also said Intel may end its low-margin Small Core product line. Separately, Lenovo Group said bondholders exercised conversion rights between September 5 and today, involving $48.711 million of its 2.5% convertible bonds due 2029. The amount represented about 7.22% of the original $675 million principal, and the bonds were converted and cancelled at an adjusted conversion price of HK$8.37 per share.