Movement Alert｜Maxient Technology Group Falls 5.26% in Regular Trading, Short-Term Profit-Taking After Consecutive Post-Stock-Connect Surges

Market Focus06-11

On June 11, Maxient Technology Group (02706.HK) declined 5.26% in regular trading, trading at 69.85 HKD/share, with trading volume of approximately 100 million HKD.

On the news front, after the company was officially included in the Stock Connect program on June 8, the stock surged over 22% on June 9 and over 12% on June 10, accumulating significant short-term gains. Following the rapid rally, profit-taking pressure from short-term traders intensified. Additionally, market institutions had previously advised investors to temporarily avoid the crowded AI hard-tech sector, while rising Fed rate hike expectations weighed on overall Hong Kong market sentiment, strengthening the willingness of funds to lock in gains at elevated levels.

On the institutional front, BOCI and Guotai Haitong previously issued bullish ratings on the company, with target prices ranging from 80.81 to 97.47 HKD, suggesting potential upside from current levels despite the near-term pullback.

(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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