Stock Track | Li Ning Plunges as BlackRock Trims Stake

Stock Track10-23

Shares of Li Ning Co. Ltd, the leading Chinese sportswear company, plummeted by 5.6% on Tuesday, amid news that BlackRock, the world's largest asset manager, had reduced its holding in the firm.

According to a filing with the Hong Kong Stock Exchange, BlackRock's long position in Li Ning decreased from 5.89% to 4.13% as of October 17. The move by the investment giant to trim its stake in the sportswear maker likely contributed to the sell-off in Li Ning's shares.

Institutional investors like BlackRock play a significant role in shaping market sentiment and driving stock prices. A reduction in their holdings can often trigger a broader selloff, as other investors follow suit. Li Ning, which has been grappling with intense competition from international brands and domestic rivals, may have fallen victim to this phenomenon.

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Ltd, the leading Chinese sportswear company, plummeted by 5.6% on Tuesday, amid news that BlackRock, the world's largest asset manager, had reduced its holding in the firm.\n...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02331","symbol_name":"李宁","start_time":0,"source_url":"","article_id":"1164495081","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1164495081","pubTimestamp":1729687136,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Li Ning Co. 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