On June 2, Dongfang Electric (01072.HK) fell 3.17% in regular trading, trading at HK$32.08/share, with trading volume of HK$43.68 million. The decline came as the heavy electrical equipment sector resumed its downtrend following a brief technical rebound the prior session.
On the sector front, the heavy electrical equipment sector weakened again, with Harbin Electric down 3.87%, Goldwind down 2.47%, Shanghai Electric down 1.17%, and Guoxia Tech down 2.64%, indicating broad sector drag. The stock has now fallen over 20% from its May 18 intraday high of HK$41.14, which was driven by the G50 gas turbine North America export order. Market capital continues rotating toward semiconductor and other hot sectors, with A-share main fund net outflows exceeding RMB 2.3 billion over the past 10 days, significantly reducing attention on the heavy electrical equipment space.
Institutionally, 11 firms have maintained buy ratings over the past 90 days with an average target price of RMB 46.31, suggesting substantial upside from current levels despite near-term weakness.
(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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