Hong Kong Stock Market Update: ZX INC experienced a sharp decline in the afternoon, plunging by as much as 36% and exhibiting a daily volatility of over 50%.

ZX INC's stock price has been on a continuous rise recently, with a cumulative increase of over 170% in the past two weeks. The stock surged nearly 10% in the morning session, but sharply declined in the afternoon, plummeting by 36% during the trading hours. As of the time of writing, it has dropped by 13.41% to HKD 35.5, with a trading volume of HKD 73.8922 million. On the news front, Hang Seng Index Company recently announced the results of its quarterly review, including ZX INC in the Hang Seng Composite Index Small Cap and as a Stock Connect target, effective from March 4th. Anxin International released a research report stating that inclusion in the index and Stock Connect could enhance the company's visibility and liquidity, with a target price of HKD 34.5. Anxin International's report pointed out that due to the delayed launch of some new games in 2023, revenue and performance growth have slowed down. However, they anticipate an improvement in performance in 2024 with the incremental revenue from upcoming new games like "City of Dragon's Mark" and "Douluo Continent: Shrek Academy," along with increased overseas and casual gaming channel revenue. It is worth noting that on February 2nd, ZX INC's stock price experienced a significant plunge, dropping by 77% at one point, almost wiping out all previous gains.