Movement Alert｜Kingdee International Falls 5.31% in Regular Trading, Hang Seng Tech Index Removal Imminent as Passive Fund Selling Persists

Market Focus06-04 09:50

On June 4, Kingdee International fell 5.31% in regular trading, trading at 7.86 HKD/share, with trading volume of approximately 97.57 million HKD, extending the prior session's decline.

On the news front, Hang Seng Indexes Company previously confirmed the removal of Kingdee International from the Hang Seng Tech Index, with the change set to take effect on June 8. As the effective date approaches, passive funds tracking the index continue to unwind their positions, creating sustained selling pressure. Additionally, overnight weakness in the US SaaS sector has dampened global enterprise software sentiment, while profit-taking from the stock's cumulative 20%-plus rebound during June 1-2 continues to flow out, resonating with the index rebalancing selling pressure and driving consecutive sessions of significant decline.

Kingdee International is an investment holding company principally engaged in providing cloud services and enterprise resource planning (ERP) solutions, primarily operating in the domestic China market.

(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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