China's SenseTime hits over 7-month low as Alibaba trims long position

SenseTime

11/07/2023 03:33

** Shares of Chinese artificial intelligence (AI) software
developer SenseTime Group Inc  0020.HK  fall as much as 4.8% to
HK$1.78, their lowest since Nov. 29
    ** Stock is on course for the biggest one-day pct drop since
July 4 if losses
    ** Stock is the biggest pct loser in Hang Seng Tech Index
 .HSTECH  and Hang Seng Composite Index on information and 
technology firms  .HSCIIT ; second biggest pct decliner in Hang
Seng Composite Index  .HSCI  
    ** Alibaba's long position in SenseTime falls to 3.15% on
July 6 from 5.29%, according to HKEx filing 
    ** Alibaba sold 557.4 mln SenseTime shares at an average
price of HK$1.82 each on July 6 - HKEx filing   
    ** Hong Kong shares of Alibaba climb as much as 1.8% to
HK$88.60, extending gain for the third straight session  
    ** The Hang Seng Composite Index on information technology
firms  .HSCIIT  adds 0.8% and the Hang Seng Tech Index  .HSTECH 
rises 1%
    ** The Hang Seng Composite Index  .HSCI  climbs 0.6% and the
Hang Seng Index  .HIS  gains 0.7%
    ** As of last close, shares of Shanghai-based SenseTime had
fallen 15.8% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))