HK Stock Market Move | Anhui Conch Cement (00914) fell more than 7% during trading, with several large transactions occurring before the market opened. It is reported that Taiwan Cement has sold nearly HK$2 billion worth of shares in Anhui Conch Cement.

Anhui Conch Cement (00914) opened lower today and continued to fall, dropping more than 7% during trading. As of the time of writing, it fell by 7.04% to HK$24.82, with a turnover of HK$2.514 billion. In terms of news, it was reported that Taiwan Cement announced that its subsidiary, TCC International Limited, sold 76.875 million shares of Anhui Conch Cement at an average price of about HK$25.43 per share, with a total transaction amount of approximately HK$1.955 billion. Taiwan Cement stated that the purpose of this sale of Anhui Conch Cement shares was for financial planning. After the completion of the sale, Taiwan Cement's holding in Anhui Conch Cement will decrease to 38.325 million shares. It is worth noting that there have been multiple large trades in Anhui Conch Cement before the market, involving approximately 76.875 million shares, which triggered the stock to hit the upper limit.