--- title: "Hong Kong Stock Movement: Celestial Asia plummets 20.59%, no significant news but shows volatility, what is driving market sentiment?" type: "News" locale: "en" url: "https://longbridge.com/en/news/273943383.md" description: "Celestial Asia fell 20.59%; Singularity Global fell 1.73%, with a transaction volume of HKD 2.67 million; PACIFIC LEGEND rose 1.25%, with a transaction volume of HKD 2.66 million; International Home Retail fell 1.43%, with a transaction volume of HKD 409,200; Aoki Holdings fell 0.85%, with a market value of HKD 2.408 billion" datetime: "2026-01-28T06:31:20.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/273943383.md) - [en](https://longbridge.com/en/news/273943383.md) - [zh-HK](https://longbridge.com/zh-HK/news/273943383.md) --- # Hong Kong Stock Movement: Celestial Asia plummets 20.59%, no significant news but shows volatility, what is driving market sentiment? **Hong Kong Stock Movement** Celestial Asia fell 20.59%, with no significant news recently. Trading is active, and capital flow is evident. Considering the sector and industry trends, the stock shows significant volatility, and the specific reasons need further observation. **Stocks Ranked High in Industry Transaction Volume** Singularity Future Technology fell 1.73%. Based on recent key news: 1. On January 26, Singularity Future Technology signed a non-exclusive channel distributor agreement with Muxi Co., Ltd., marking the group's entry into the domestic AI computing hardware market. This agreement grants the group a unique first-mover advantage in a competitive market, expected to enhance overall profitability. Source: Zhitong Finance 2. On January 26, Singularity Future Technology announced that Shanghai HuiLiu would purchase 2,000 GPU products, with a potential business scale of approximately RMB 200 million. This move is seen as an important milestone in the group's business development. Source: Hong Kong Stock Exchange Announcement 3. On January 26, analysts rated Singularity Future Technology stock as a sell, with a target price of HKD 3.00, and the technical sentiment signal is a sell. This rating may have a negative impact on the stock price. Source: TipRanks. Industry transformation is accelerating, and market competition is fierce. PACIFIC LEGEND rose 1.25%. Based on recent key news: 1. On January 27, PACIFIC LEGEND announced a proposed rights issue. The rights issue basis is one new share for every two shares held, with a subscription price of HKD 0.10 per share, a premium of about 25% over the closing price. This move aims to raise approximately HKD 29.6 million for debt repayment, rent payment, and support for the Dubai project. This announcement drove the stock price up. 2. On January 27, PACIFIC LEGEND shareholders transferred their shares from QuanYong Securities to ShiDe Securities, with a transfer market value of HKD 2.3969 million, accounting for 5.13%. This transfer behavior shows shareholders' confidence in the company's future development, further supporting the stock price increase. 3. On January 28, the announcement of the rights issue continued to affect market sentiment, with investors gaining confidence in the company's financial planning and future projects, and the stock price continued to maintain an upward trend. Rights issue activities are frequent in the Hong Kong market, enhancing capital liquidity. International Home Retail fell 1.43%. Based on recent key news: 1. On January 27, International Home Retail announced the repurchase of 150,000 shares, spending HKD 106,000. This move aims to enhance market confidence but failed to stop the stock price from falling. 2. On January 26, the company also repurchased 150,000 shares, costing HKD 106,500, with a repurchase price of HKD 0.71-0.72 per share. The consecutive repurchases show the company's confidence in its own value, but the market reaction has been limited. 3. Recently, there have been no other significant news affecting the stock price. The Hong Kong stock market has seen increased volatility recently, requiring attention. **Stocks Ranked High in Industry Market Capitalization** Aoki Co., Ltd. fell 0.85%. Based on recent key news: 1. On January 26, Aoki Co., Ltd. held its first extraordinary general meeting of shareholders in 2026, approving the application for a comprehensive credit limit and its guarantee arrangements. This decision may affect the company's financial structure, attract market attention, and lead to stock price fluctuations. Source: Hong Kong Stock Exchange announcement 2. No other important news recently. 3. No other important news recently. 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