On September 7, BIDU-W fell 3.65% in regular trading, trading at 93.1 HKD/share, with turnover of HKD 614 million. The decline came on the first effective day of Baidu's Class A ordinary shares being included in the Shanghai-Hong Kong Stock Connect, exhibiting a classic pattern of investors selling on realized positive catalysts.

The Shanghai Stock Exchange confirmed on September 4 that Baidu's Class A shares would be added to the Stock Connect program effective September 7, following the company's completion of its dual primary listing conversion on September 1. Citigroup had previously noted that the Stock Connect inclusion would serve as a key catalyst for attracting substantial capital inflows, but acknowledged that the stock had already priced in expectations in the short term, leading to selling pressure on the effective date. Baidu CFO Henry He had estimated 10% to 15% incremental fund inflows following inclusion. The stock had surged over 5% on September 4 in anticipation of the announcement.

(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.)