On June 18, Longfor Group fell 3.32% in regular trading, trading at 7.24 HKD/share, with turnover of 65.28 million HKD. The decline extends a multi-day downturn that saw the stock plunge nearly 9% on June 16.

The continued weakness is driven by persistent headwinds in China's property sector. May data on 70-city house prices showed a continued downward trend, triggering broad-based selling across real estate developers. Meanwhile, significant short-selling pressure was evident on June 17, with 5.6 million shares sold short representing 26.53% of total turnover. Additionally, multiple directors including the CEO reduced their holdings on June 5, further weighing on sentiment.

Within the Real Estate Development sector, stocks declined across the board. China Overseas fell 4.97%, Greentown China fell 4.78%, China Resources Land fell 3.58%, CK Asset fell 2.2%, and Henderson Land fell 1.52%. Market participants also adopted a cautious stance ahead of the U.S. Federal Reserve rate decision scheduled for June 18.

(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.)