Why TME continued sinking today?

Strong catalyst on shares buy back worth $1B. Sexy bounce on elevated volume on Friday 26th. Good pre-market action and gap-up. Despite all that, continued to sink and closed lower on the day.
Was this because of overall market weakness? Continued fear on further Archegos / other HFs liquidations?

Can someone explain to me what exactly happened?

 

It’s part of that big margin call going on. It’s apparently not done liquidating.

 

not just tme. other chinese stonks as well...

 

there is nothing abnormal.

downforce momentum is so strong.
it takes time for it to be weakened.

 

TME was actually up 1.2% on the day.