On May 29, Harbin Electric (01133.HK) fell 5.77% in regular trading, trading at HK$19.89/share, with trading volume of HK$59.94 million.

The decline comes amid broad weakness in the Heavy Electrical Equipment sector and continued selling pressure linked to regulatory actions against certain Hong Kong-based brokerages. Market participants have noted that stocks not included in the Stock Connect program, where these brokerages hold a meaningful proportion of shares, have faced heightened short-term pressure. Harbin Electric, despite being a major state-owned enterprise and one of China's three major power equipment manufacturers, remains excluded from the Stock Connect list.

Within the Heavy Electrical Equipment sector, Dongfang Electric fell 4.33%, Goldwind fell 3.13%, Guoxia Tech fell 3.16%, and Shanghai Electric fell 1.83%, indicating sector-wide weakness. Recent shareholding disclosures also show JP Morgan reducing its position in the company.

(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.)