On May 26, China Hongqiao fell 3.11% in regular trading, trading at HKD 29.48/share, with trading volume of HKD 284 million. The decline comes as buying support from a large-scale share repurchase program has dissipated following the completion and cancellation of repurchased shares.

The company completed the cancellation of 92.376 million repurchased shares on May 20. These shares were acquired between May 6 and May 14 at a total cost of approximately HKD 3.079 billion, at an average price of HKD 33.34 per share. With the buyback program fully executed and shares cancelled, the sustained bid support that previously underpinned the stock price has been removed. Additionally, the company recently completed issuance of RMB 10.2 billion in convertible bonds, raising market concerns over potential equity dilution.

Within the Aluminum sector, performance diverged significantly. CHALCO rose 4.05%, Nanshan Aluminium International surged 14.01%, while Chuangxin Industrial fell 5.33%, Rusal declined 3.77%, and Xingfa Aluminium was flat.

(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.)