Movement Alert|Dongfang Electric Falls 3.32% in Regular Trading, Foreign Institutional Selling Pressure Compounds Ongoing Deep Correction

Market Focus06-24

On June 24, Dongfang Electric fell 3.32% in regular trading, trading at 23.4 HKD/share, with turnover of approximately 38.35 million HKD. The decline comes amid sustained institutional selling pressure and a prolonged downtrend from recent highs.

On the news front, foreign institution Artemis Investment Management LLP recently reduced its holdings twice in succession — selling 3.748 million shares on June 11 and another 2.2184 million shares on June 15 — bringing its stake from 7.58% down to 5.78%. Although Artemis subsequently added back 2.1876 million shares on June 18 at approximately 26.26 HKD per share, the net position remains significantly reduced. Meanwhile, southbound capital has cumulatively net sold 6.9758 million shares over the past 20 trading days, reinforcing capital outflow pressure. The stock has now declined over 40% from its May 18 high of 41.14 HKD, with the downtrend firmly intact.

Within the Heavy Electrical Equipment sector, broad weakness persists. Among peers, Goldwind fell 3.62%, Harbin Electric fell 2.24%, Shanghai Electric fell 2.2%, Guoxia Tech fell 1.32%, and Dajin fell 0.54%.

(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.)

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