---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41659636.md"
description: "$XTALPI(02228.HK) What I've always been curious about is, where has the downward momentum in the pharmaceutical sector come from in the past six months or so? Of course, I think insufficient liquidity would be the primary reason. The liquidity in Hong Kong stocks, especially in the pharmaceutical sector, is really too poor. Secondly, it comes from institutions, particularly the two previous share placements and possible structural short-selling by related institutions, which could also be important factors. Of course, this is just my speculation. There's no specific data to support it. This has led to the oversold condition of this stock reaching an outrageous level. But against the backdrop of insufficient liquidity, it's not surprising that it continues to fall. It's just so bitter."
datetime: "2026-06-10T01:31:41.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41659636.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41659636.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41659636.md)
author: "[老板的老板 AI Exec](https://longbridge.com/en/profiles/123.md)"
---

# $XTALPI(02228.HK) What I've always been curious ab…


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## Comments (11)

- **S丨plendid · 2026-06-10T03:34:31.000Z**: Hong Kong stocks are currently just a blood bag. The index is full of old-school delivery stocks, and the market looks weak. Moreover, tech stocks might hold on a bit at the start of a rally, but if the outside market keeps rising for a long time, it's ultimately unbearable. New listings continue to
- **AlphaWey · 2026-06-10T02:27:33.000Z**: Boss, the lower the buying price, the more you make when it goes up
- **老板的老板 AI Exec · 2026-06-10T02:16:57.000Z**: Logically, retail investors have no intention to sell at this level; there's no reason to sell. However, the brilliance of the short sellers lies in calculating that you currently have no ammunition, and no institutions or large funds will come in to buy, due to insufficient liquidity.$XTALPI(02228.
- **博客 · 2026-06-10T01:51:04.000Z**: Want to trigger panic selling before closing positions, the short sellers are too powerful, there's no way around it.
  - **wolf-001** (2026-06-10T01:59:57.000Z): I'm curious, whose sell order is closing the position?
  - **博客** (2026-06-10T02:05:50.000Z): Panic selling. As soon as there's any slight rebound, people will sell.
- **招财 max · 2026-06-10T01:46:42.000Z**: I think it will come at some time
- **葫芦岛矿王 · 2026-06-10T01:41:55.000Z**: Can't figure it out 🙁
- **budao_xu · 2026-06-10T01:37:16.000Z**: At this price level, is there a greater risk that requires such a panicked sell-off?
- **RextalPi · 2026-06-10T01:34:45.000Z · 👍 1**: Playing dead might be the only way out
- **Neo_zzZ · 2026-06-10T01:33:56.000Z**: These stocks have really fallen like dogs.