Movement Alert｜Biren Technology Rises 3.67% in Regular Trading, Technical Rebound After Stock Connect Inclusion Selling Pressure Digested

Market Focus06-10

On June 10, Biren Technology rose 3.67% in regular trading, trading at 59.0 HKD/share, with trading volume of HKD 152 million.

On the news front, the rebound comes after the stock was formally included in the Stock Connect eligible list on June 8, which triggered two consecutive sessions of profit-taking that saw the stock decline approximately 8% as previously accumulated gains of over 26% were unwound. With short-term selling pressure now largely absorbed, the stock is experiencing a technical recovery. The official opening of the southbound capital channel is expected to bring incremental buying interest from mainland investors.

On the institutional front, Goldman Sachs maintains a Buy rating with a 12-month target price of 70.7 HKD, citing domestic AI capex expansion and import substitution tailwinds. Daiwa Securities initiated coverage with a Buy rating and a target price of 100 HKD, while CLSA raised its target to 67.4 HKD maintaining an Outperform rating, noting China's computing power shortage may persist through at least 2027.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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