HK Movers｜Kingsoft Soars 10% on Xiaomi Stake Increase Combined with Hang Seng Tech Index Removal Overhang Cleared

On June 9, Kingsoft rose 10.37% in regular trading, trading at HK$24.48 per share. The rebound was driven by the dual catalysts of a strategic stake increase and the clearing of index-related selling pressure.

On the news front, Xiaomi Group disclosed via the HKEX that it had increased its holdings of Kingsoft on the open market, raising its stake to 5.39%. Xiaomi stated it remains firmly optimistic about Kingsoft's long-term development and the strategic synergy prospects between the two companies. Meanwhile, the Hang Seng Tech Index officially removed Kingsoft effective June 8, meaning the passive fund rebalancing sell-off has been fully absorbed.

Earlier on June 3, Kingsoft had declined over 5% as markets braced for the impending index removal and multiple broker target price cuts. Bank of America lowered its target to HK$24 while Citi cut to HK$33, both citing narrowing gaming margins and a 22% year-over-year decline in Q1 gaming revenue. With the index adjustment overhang now resolved and fresh institutional buying support from Xiaomi, market sentiment has shifted toward recovery.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)