BUZZ-China's SenseTime slips as SoftBank trims stake in AI software developer

Reuters04-11

** Shares of Chinese artificial intelligence $(AI)$ software developer SenseTime Group Inc slip 2.9% to HK$0.66, on track for biggest one-day pct drop since April 3 if current losses hold

** SoftBank Group Corp sold 70.89 mln SenseTime shares at an average price of HK$0.7161 apiece on April 3, reducing its stake to 4.8% from 5.08% - HKEx disclosures

** SoftBank ceased to have a notifiable interest in SenseTime as its interest has dropped below 5% - HKEx disclosures

** The Hang Seng Composite Index on information technology firms slips 0.8%, the Hang Seng Tech Index falls 1.5% and the Hang Seng Index down 0.9%

** SenseTime shares down 43% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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.

Comments

We need your insight to fill this gap
Leave a comment