Hong Kong stock movement: Major shareholder reduction triggers sell-off, SHANGSHAN GOLD plummets 15.96%

Hong Kong Stock Movement

SHANGSHAN GOLD fell 15.96%. Based on recent key news:

1. On December 2, the controlling shareholder of SHANGSHAN GOLD, Huang Shikun, reduced his holdings by 41.408 million shares, accounting for 8.09% of the share capital, bringing his holding ratio down to 57.19%, which led to a significant drop in the stock price. Source: Zhitong Finance

2. On December 2, the spot price of silver reached a historical high, and the precious metals sector collectively rose, driving an increase in market risk aversion, which affected the gold market. Source: China News Service

3. On December 2, political polarization weakened the credit of the US dollar, and the proportion of gold reserves in non-US economies increased, driving fluctuations in gold prices. Source: China News Service. The precious metals market is experiencing heightened risk aversion and increased volatility.

Stocks with High Trading Volume in the Industry

Automobile Street rose 2.78%, with a trading volume reaching HKD 10 million, and no significant news recently. The trading is active, with clear capital flow. Considering the sector and industry trends, this stock shows significant volatility, and the specific reasons need further observation.

Foshan Garden fell 0.69%, with a trading volume reaching HKD 6.07 million, and no significant news recently. The trading is active, with clear capital flow. Considering the sector and industry trends, this stock shows significant volatility, and the specific reasons need further observation.

Beautiful Pastoral Medical Health rose 0.61%. Based on recent key news:

1. On December 3, Beautiful Pastoral Medical Health announced the repurchase of 74,500 shares in the market, with a transaction amount of approximately HKD 1.94 million, at an average price of HKD 26.08 per share. This move demonstrates the company's confidence in its own value, driving the stock price up.

2. On December 3, non-executive director Li Fangyu increased his holdings by 52,000 shares, showcasing his firm belief in the company's future development, further boosting market confidence.

3. From December 1 to December 3, the company repurchased a total of 849,500 shares, with a total consideration of approximately HKD 24.636 million. The ongoing share repurchase actions support the rise in stock price. The Hong Kong stock market has recently experienced increased volatility, and policy changes need to be monitored.

Stocks with High Market Capitalization in the Industry

Bright Sunshine Holdings fell 1.52%. Based on recent key news:

1. On December 1, Bright Sunshine Holdings announced a mid-term net profit of HKD 20.84 million for the period ending September 30, an increase of 26.8% year-on-year. Despite strong performance, the lack of an interim dividend may disappoint investors, leading to a decline in stock price. Revenue reached HKD 290 million, up 67.9%, mainly due to the successful launch of a new brand. Source: Economic Information Agency. The Hong Kong market has recently experienced significant fluctuations, which need to be monitored