On July 13, Yangtze Optical Fibre and Cable (YOFC) fell 5.51% in regular trading, trading at HK$152.6/share, with turnover of HK$361 million. The decline extends the heavy selling pressure that emerged following the prior trading session's dramatic intraday reversal.

On July 10, the stock surged as much as 14% to HK$184.1 intraday, buoyed by China Mobile's massive fiber optic cable procurement announcement with ceiling prices significantly exceeding market expectations. However, the rally was short-lived as the stock reversed sharply to close at HK$159.8, with extraordinary turnover exceeding HK$8 billion, signaling aggressive profit-taking by holders at elevated levels. The stock has now retreated over 50% from its June peak.

Separately, Nomura maintained its buy rating on YOFC with a target price of HK$266, citing expectations that China Mobile's bidding prices will rise given recent fiber price increases. Third-largest shareholder Yangtze Communication also completed its planned reduction of approximately 1 million A-shares between April and July.

(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.)