Stock Track | Luxshare ICT Soars 5.17% Intraday as Goldman Sachs Boosts Holdings

Stock Track07-21 11:01

Luxshare ICT's stock price surged 5.17% during intraday trading on Tuesday.

The sharp rise followed news that Goldman Sachs Group increased its holdings in Luxshare Precision by 2.4 million shares on July 15, investing approximately HK$151 million at around HK$62.88 per share. This move raised Goldman Sachs' stake in the company to 15.61%.

Market observers noted that Goldman Sachs' counter-trend accumulation at depressed levels has helped alleviate pessimism regarding potential stop-loss selling pressure from international placement funds, providing support to the share price during the trading session.

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