Gds Holdings Limited shares fall 8.54% intraday as AI concept stocks decline and RBC Capital's upgrade leads to profit-taking.

Gds Holdings Limited plunged 8.54% intraday, as AI concept stocks in Hong Kong fell sharply, with major players like Meituan and Kuaishou dropping over 8%, and Kingdee International down nearly 8%, dragging the sector down. Additionally, RBC Capital's upgrade of Gds Holdings to 'buy' and target price increase to $48 from $37 on August 11th led to profit-taking pressure, while a large sell order of 417,100 shares on August 12th added to short-term selling pressure.