Shares in Swedish contract manufacturers Note and Hanza fell sharply on Thursday, dragging down the electronics manufacturing services (EMS) segment on the Stockholm Stock Exchange.
The decline reflects a broader risk-off mood that has gripped Nordic equities, with the OMX Stockholm 30 index retreating amid mixed signals from global markets.
Asian benchmarks also posted losses in early trading, adding to the headwinds for European tech and industrial names.
Despite the heavy selling, Pareto Securities analyst Thomas Blikstad maintains that the market’s reaction is disproportionate to the fundamentals.
He described the prevailing anxiety as "overdriven," suggesting that the sector’s valuation has become attractive for long-term investors.
Blikstad’s stance contrasts with the short-term technical pressure that has pushed several EMS stocks to multi-month lows.