Movement Alert|Weichai Power Falls 3.49% in Regular Trading, Foreign Institutional Selling Pressure Continues Amid Prior-Session Gain Retracement

Market Focus06-26

On June 26, Weichai Power fell 3.49% in regular trading, trading at HK$36.18/share, with turnover of HK$137 million, retracing the prior session's rally that was driven by investment banks raising target prices.

On the news front, JPMorgan previously reduced its holdings by approximately 7.84 million shares in early June, involving about HK$313 million, while Wellington Management also sold approximately 2.50 million shares. Southbound capital has cumulatively net sold 24.74 million shares over the past 20 trading days, with sustained foreign institutional selling pressure weighing on the stock price.

Within the Construction Machinery and Heavy Trucks sector, the overall sector traded weak. Among individual stocks, TIMES ELECTRIC up 0.79%, SANY HEAVY IND up 0.32%, SINOTRUK down 0.92%, CRRC down 1.94%, SANY INT'L down 2.21%. Broad sector weakness further dragged on individual stock performance.

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