On July 24, CHINASOFT INT'L declined 5.23% in regular trading, trading at HKD 3.27/share, with turnover of HKD 91.24 million. The pullback comes as the prior rally catalyst loses momentum and selling pressure builds.
The company had previously announced the signing of a Token revenue-sharing and joint innovation cooperation agreement with Beijing Moonshot AI (the Moon Landing Plan) on July 20, which sent shares surging over 37% intraday that day. The stock continued to climb on subsequent trading days, gaining 5.22% on July 21 and 5.28% on July 22. However, as the news fervor cooled, profit-taking accelerated. Southbound capital reduced holdings by 3.6 million shares on July 20, signaling short-term selling pressure from the high. The decline also follows Morgan Stanley's earlier downgrade to Underweight with a target price of HKD 2.6, citing AI disruption risks to the company's traditional IT outsourcing business.
(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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