U.S. Markets open in 4 hrs 51 mins
  • Gold

    1,768.40
    -9.80 (-0.55%)
     
  • Silver

    23.03
    +0.46 (+2.05%)
     
  • EUR/USD

    1.1696
    -0.0034 (-0.2924%)
     
  • 10-Yr Bond

    1.3360
    +0.0120 (+0.91%)
     
  • Vix

    20.87
    -3.49 (-14.33%)
     
  • GBP/USD

    1.3619
    -0.0045 (-0.3282%)
     
  • USD/JPY

    109.7800
    +0.5600 (+0.5127%)
     
  • BTC-USD

    43,901.35
    +2,459.79 (+5.94%)
     
  • CMC Crypto 200

    1,089.55
    +49.07 (+4.72%)
     
  • FTSE 100

    7,083.37
    +102.39 (+1.47%)
     
  • Nikkei 225

    29,639.40
    -200.31 (-0.67%)
     

Why Shares of OneConnect Financial Tech Are Falling Today

·2 min read
Why Shares of OneConnect Financial Tech Are Falling Today
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Analysts at Morgan Stanley also downgraded the stock. OneConnect, which provides a technology-as-a-service platform for Chinese financial institutions, reported diluted earnings per share equivalent to a loss of nearly $0.05 on total revenue equivalent to $149.7 million. "The management team worked diligently in the second quarter, to address changes from further regulatory tightening, the shift in customer needs and the operating environment," Ye Wangchun, chairman and CEO of OneConnect, said in a statement.