HK Stock Market Move | HAIDILAO (06862) fell over 10% in early trading, with 259 million shares traded in the market. Speculation suggests this may be due to major shareholders selling their shares.

HAIDILAO (06862) fell more than 10% in early trading. As of the time of writing, it is down 9.14%, trading at HKD 10.34, with a turnover of HKD 2.982 billion. On the news front, there have been multiple large trades in HAIDILAO, involving approximately 259 million shares, with an average price of HKD 10.62 per share, totaling about HKD 2.75 billion. The market speculates that this may be due to the major shareholder selling shares. Morgan Stanley stated that the selling of shares by HAIDILAO's major shareholder could put pressure on market sentiment in the short term, until investors regain confidence in the company's profit outlook and are assured that there will be no further asset divestitures.