On July 22, CSOP Hang Seng TECH Index Daily (2x) Leveraged Product declined 5.01% in regular trading, trading at 3.41 HKD, with turnover of 993 million HKD.
On the news front, Tencent was revealed as the stock most reduced in market value by public mutual funds during Q2, plunging nearly 6% intraday and dragging the broader tech sector lower. The Hang Seng Tech Index fell 2.11%, with Meituan, Xiaomi, and JD.com all declining over 2%. AI application concept stocks and auto stocks also saw broad-based selling.
According to data from Tianxiang Investment Consulting, public funds reduced Tencent holdings by 18.737 billion yuan in market value during Q2, making it the most-sold stock. Tencent simultaneously exited the top ten public fund heavy positions. Multiple prominent fund managers including Zhang Kun cut Tencent holdings by half. As a 2x leveraged product tracking the Hang Seng Tech Index, the index decline was amplified through leverage, resulting in approximately double the index loss for this ETF.
(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.)
