Movement Alert|DONGFANG ELEC Falls 3.02% in Regular Trading, JPMorgan Cuts Stake to 5.81% After Three Consecutive Reductions

Market Focus08-06

On August 6, DONGFANG ELEC fell 3.02% in regular trading, trading at 23.18 HKD/share, with turnover of approximately 50.58 million HKD.

On the news front, JPMorgan Chase sold approximately 1.3924 million shares of DONGFANG ELEC on July 30 at an average price of 20.8141 HKD per share, involving approximately 28.98 million HKD. Following the disposal, JPMorgan's long position decreased from 6.15% to 5.81%, with remaining holdings of approximately 23.72 million shares.

Notably, this marks the third consecutive reduction by JPMorgan within a month. On July 6, the institution sold 2.0324 million shares at approximately 24.33 HKD, and on July 14, it sold 652,686 shares at approximately 22.90 HKD. The cumulative scale of disposals has been significant, potentially weighing on market sentiment. Separately, Citi recently lowered its target price on the stock from 54 HKD to 30 HKD while maintaining a Buy rating, citing more realistic expectations regarding gas turbine export revenue contributions.

(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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