Movement Alert｜Hai Zhi Technology Group Falls 5.31% in Regular Trading, AI Sector Collective Pullback Amid Post-Stock Connect Fund Rotation

Market Focus06-23

On June 23, Hai Zhi Technology Group (02706.HK) declined 5.31% in regular trading, trading at HK$60.4/share, with turnover of approximately HK$21.22 million.

On the news front, the Systems Software sector came under broad selling pressure, with KNOWLEDGE ATLAS dropping over 12% and MINIMAX falling over 10%, reflecting a collective retreat in AI-related names. Since being included in the Stock Connect program on June 8, Hai Zhi Technology has experienced pronounced volatility as new southbound capital clashes with existing holders seeking to lock in gains. Market institutions had previously flagged the crowded positioning in AI hard-tech names, noting elevated profit-taking sentiment at current levels.

The stock has exhibited wide-range oscillation since its Stock Connect inclusion, having surged sharply in mid-June before pulling back over 12% on June 12. Institutional coverage remains constructive, with BOC International and Guotai Haitong maintaining bullish ratings with target prices ranging from HK$80.81 to HK$97.47.

(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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