On June 8, Baidu Group-SW declined 5.57% in regular trading, trading at 117.9 HKD/share, with trading volume of 1.015 billion HKD.

On the news front, overnight US markets saw the Nasdaq plunge 1,100 points, with chip stocks falling sharply and Chinese ADRs selling off broadly. Baidu's US-listed shares dropped nearly 10%. Additionally, Citi recently published a research note downgrading Baidu's Q3 outlook, now forecasting core advertising revenue to decline 4.1% year-over-year versus a prior estimate of 3.5%. Citi also cut its Q3 core adjusted operating profit estimate by 13%, citing weak advertising revenue and AI search yet to achieve monetization. The ADR price target was lowered from $144 to $143, though the firm maintained its buy rating.

Within the Interactive Media and Services sector, the broader group traded lower. Among peers, Tencent fell 0.97%, Kuaishou fell 4.14%, Bilibili fell 2.31%, Meitu fell 5.38%, and Newborntown fell 4.81%.

(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.)