Movement Alert|Kingdee International Rises 5.5% at Open, Rebounding After Consecutive Declines as Company Buybacks Provide Support

Market Focus06-01

On June 1, Kingdee International rose 5.5% at open, trading at HKD 7.67/share, with trading volume of HKD 7.1484 million.

The rebound follows a period of sustained selling pressure triggered by the company's confirmed removal from the Hang Seng Tech Index. Hang Seng Indexes Company announced on May 22 that Kingdee International would be deleted from the index, with the change to take effect after the close on June 5. The approaching effective date had driven passive fund outflows, pushing shares to new lows throughout late May, with the stock declining over 5% on both May 26 and May 28.

Amid the selloff, management continued share repurchases to support the stock. On May 26, the company repurchased 2 million shares at HKD 7.45–7.50 per share for approximately HKD 14.97 million. On May 28, another 2 million shares were repurchased at HKD 6.95–6.99 per share for approximately HKD 13.93 million. Today's bounce appears linked to the phased exhaustion of selling pressure combined with the buyback floor effect.

(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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