CHINAHONGQIAO (01378) stock plummeted 5.02% during Friday's intraday trading session. The sharp decline occurred despite the company's recent aggressive share repurchase program.

The stock's weakness is attributed to broad selling pressure across the aluminum sector, which overwhelmed the company's buyback support. China Hongqiao had repurchased millions of shares in recent sessions, but sector-wide selling saw other major aluminum producers also trading lower simultaneously.

Analysts note that global aluminum supply gaps are expected to widen in the coming years due to production disruptions, though the current market sentiment appears focused on near-term sector weakness that has triggered widespread selling across aluminum stocks.