Why did 7299.HK stock fall so sharply pre-market on 03 Feb 2026?

The 32.43% pre-market fall reflected large sell orders, rebalancing for a 2x leveraged gold futures product, and likely margin or stop-triggered selling. High volume and rapid gold futures moves amplified the decline on the HKSE

What are Meyka AI’s forecasts and how do they compare to the current price for 7299.HK stock?

Meyka AI's forecast model projects **HK$42.81** (monthly), **HK$41.47** (quarterly) and **HK$39.53** (yearly). Versus the current **HK$28.80**, implied upside ranges from **37.26%** to **48.65%**. Forecasts are model-based and not guarantees

What short-term support and resistance should traders watch for 7299.HK stock?

Watch day support around **HK$25.00** and immediate resistance at **HK$31.34** and the 50-day average **HK$28.24**. Given 2x leverage, use tight stops and smaller position sizes

Is 7299.HK stock suitable for long-term investors?

7299.HK is a daily 2x leveraged product and unsuitable for typical long-term buy-and-hold investors due to compounding effects. It better serves tactical or short-term trading strategies tied to gold moves

HK Stocks

Pre-market: 7299.HK down 32.43% to HK$28.80 on 03 Feb 2026: Monitor liquidity risk

ByHuzaifa Zahoor February 3, 2026February 3, 2026

7299.HK stock plunged 32.43% in pre-market trading to HK$28.80 on 03 Feb 2026, marking it among Hong Kong’s top pre-market losers. The CSOP Gold Futures Daily (2x) Leveraged Product (7299.HK) on the HKSE opened at HK$31.34 versus a previous close of HK$42.62, with heavy volume at 19,548,920 shares. This move follows sharp gold and futures swings and elevates short-term volatility and liquidity risk for leveraged holders in Hong Kong. We examine price drivers, technicals, Meyka AI grade and forecasts to help frame near-term trading choices