HK Stock Market Move | Capital Airport (00694) falls by more than 4% again, plans to issue 8 billion bills for financing, JP Morgan points out that it will face selling pressure after the withdrawal period.

Capital Airport (00694) fell more than 4% again, falling 3.89% to HK$1.73 as of the time of writing, with a turnover of HK$1343.67 million. On the news front, Capital Airport announced that it has officially submitted applications for the registration and issuance of medium-term notes and short-term financing notes to the Bank of China Market Traders Association. The total amount applied for registration is not more than RMB 4 billion for medium-term notes and not more than RMB 4 billion for short-term financing notes, with a plan for phased issuance. Once approved, the funds raised from the first issuance will be used to repay the company's existing debt and supplement daily operating funds. JPMorgan Chase previously issued a research report stating that it has downgraded BEIJING AIRPORT's investment rating from "neutral" to "underperform" and significantly reduced its target price from HK$3 to HK$1.8, a 40% decrease. This adjustment is mainly based on the short-term challenges brought about by the company facing structural disadvantages. The report points out that BEIJING AIRPORT being removed from the Hong Kong Stock Connect list may lead to approximately 25% of issued shares facing selling pressure, further suppressing the stock price.