Pre-market trend | KINGSOFT (3888.HK) on May 4th, volume shrinks and weakens, is the rebound over?

At yesterday's close, KINGSOFT's daily MACD showed a bearish signal, indicating a significant reduction in short-term upward momentum. The total trading volume for the day was approximately HKD 113 million, with liquidity at a relatively low level recently, showing that market participation enthusiasm is cooling down. As a technology company with both gaming and office software businesses, KINGSOFT previously experienced a rise following the rebound of the Hong Kong stock technology sector, but the emergence of bearish signals now suggests that this rebound may require a technical adjustment to digest profit-taking. On the news front, the AI sector remains the strongest hotspot in the Hong Kong stock market. The news that Anthropic's annualized revenue has doubled to USD 44 billion in two months has sparked market attention on the commercialization prospects of AI, and Goldman Sachs' research director also admitted that previous doubts about AI investment returns were "misjudged." However, KINGSOFT faces a more complex situation in the competition for AI large models—competition in the domestic large model track is heating up, with ByteDance's Doubao planning to unlock a new paid model, and the industry landscape is far from being finalized. Although the AI features of WPS under KINGSOFT continue to iterate, there is still a gap compared to the investment scale of leading companies, and the market's expectations for its AI monetization pace remain cautious. Overall, the Hong Kong stock technology sector was relatively strong yesterday, with the Hang Seng Technology Index recording positive returns, but KINGSOFT did not fully benefit from the sector's favorable conditions. From a technical perspective, KINGSOFT's recent performance has shown a phase divergence from the Hang Seng Technology Index, lagging during the overall sector rebound, and the emergence of independent bearish signals further confirms the weakness at the individual stock level