On October 12, COSCO SHIP ENGY declined 4.32% in regular trading, trading at 20.16 HKD/share with turnover of 20.94 million HKD. The decline coincided with Hong Kong Exchange disclosures showing BlackRock further reduced its long position in the company's H shares.

According to the filings, BlackRock disposed of 24.95 million H shares on October 6 via an off-market transaction involving non-cash assets, lowering its long position from 8.57% to 6.64%. This followed reductions on October 1 that trimmed the position from 7.59% to 6.09%, while Morgan Stanley also cut its stake from 7.47% to 5.68% over the same period.

The successive reductions by major international institutions have dampened near-term market sentiment, despite several investment banks maintaining positive ratings and raising target prices on the back of elevated VLCC freight rates.

(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.)