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<H Shrs>HSI Wanes 33 pts at Midday; CN Property & Domestic Demand Stocks Weak, but Utilities Rally
Hong Kong stocks were soft in the morning, dipping 33 points or 0.2% to 17,311 at midday. HSCEI fell 22 points or 0.4% to 6,084. HSTECH receded 45 points or 1.3% to 3,471. Half-day...
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<H Shrs>HSI Wanes 33 pts at Midday; CN Property & Domestic Demand Stocks Weak, but Utilities Rally
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Hong Kong stocks were soft in the morning, dipping 33 points or 0.2% to 17,311 at midday. HSCEI fell 22 points or 0.4% to 6,084. HSTECH receded 45 points or 1.3% to 3,471. Half-day turnover totalled $53.221 billion.

As for dotcom stocks, BABA-SW (09988.HK)  0.000 (0.000%)    Short selling $755.98M; Ratio 13.298%   , which plans to launch an AI dialogue-based procurement engine in September, inclined 0.5%, TENCENT (00700.HK)  0.000 (0.000%)    Short selling $1.42B; Ratio 14.496%   and MEITUAN-W (03690.HK)  0.000 (0.000%)    Short selling $1.08B; Ratio 16.165%   added 0.6% and 0.3%, while XIAOMI-W (01810.HK)  0.000 (0.000%)    Short selling $733.16M; Ratio 16.177%   and BILIBILI-W (09626.HK)  0.000 (0.000%)    Short selling $103.11M; Ratio 11.895%   fell 1.2% and 1.7%. BIDU-SW (09888.HK)  0.000 (0.000%)    Short selling $75.29M; Ratio 10.559%   and NTES-S (09999.HK)  0.000 (0.000%)    Short selling $100.02M; Ratio 9.472%   dived more than 2%, as JD-SW (09618.HK)  0.000 (0.000%)    Short selling $559.95M; Ratio 23.740%   and KINGDEE INT'L (00268.HK)  0.000 (0.000%)    Short selling $70.69M; Ratio 17.417%   slumped 4.8% and 4.3%.

NEW ORIENTAL-S (09901.HK)  0.000 (0.000%)    Short selling $22.65M; Ratio 13.574%   saw its 4FQ net profit fall 6.9%, and its shares crashed 12.4%. EAST BUY (01797.HK)  0.000 (0.000%)    Short selling $12.01M; Ratio 8.496%   from the same series declined 1.3%.

Individual consumer stocks were under pressure, with sportswear stocks LI NING (02331.HK)  0.000 (0.000%)    Short selling $47.35M; Ratio 12.638%   and TOPSPORTS (06110.HK)  0.000 (0.000%)    Short selling $13.31M; Ratio 9.866%   plummeting 5.8% and 5.1%. Restaurant stocks YIHAI INTL (01579.HK)  0.000 (0.000%)    Short selling $26.18M; Ratio 12.837%   , HAIDILAO (06862.HK)  0.000 (0.000%)    Short selling $118.91M; Ratio 18.839%   and JIUMAOJIU (09922.HK)  0.000 (0.000%)    Short selling $9.72M; Ratio 3.308%   routed 3.6% to 4.1%, while NONGFU SPRING (09633.HK)  0.000 (0.000%)    Short selling $223.82M; Ratio 38.775%   shed 3%. BUD APAC (01876.HK)  0.000 (0.000%)    Short selling $31.00M; Ratio 8.861%   ‘s half-year net profit decreased 5.9% and was below consensus expectations. Its shares retreated 2.4%.

Chinese property stocks broadly fell, with YUEXIU PROPERTY (00123.HK)  0.000 (0.000%)    Short selling $5.66M; Ratio 8.935%   collapsing 11%. Morgan Stanley expected YUEXIU's contracted sales to be around RMB5 billion in July, cratering 67% MoM, while UBS expected the amount to crash 68% MoM to about RMB4.9 billion. Peers LONGFOR GROUP (00960.HK)  0.000 (0.000%)    Short selling $36.60M; Ratio 15.077%   , CHINA RES LAND (01109.HK)  0.000 (0.000%)    Short selling $66.46M; Ratio 19.194%   , CHINA VANKE (02202.HK)  0.000 (0.000%)    Short selling $14.68M; Ratio 6.378%   and AGILE GROUP (03383.HK)  0.000 (0.000%)   descended 3% to 4%.

Expectations of interest rate cuts propelled public sector stocks. CLP HOLDINGS (00002.HK)  0.000 (0.000%)    Short selling $15.33M; Ratio 14.736%   , HK & CHINA GAS (00003.HK)  0.000 (0.000%)    Short selling $12.75M; Ratio 13.754%   , CKI HOLDINGS (01038.HK)  0.000 (0.000%)    Short selling $8.96M; Ratio 8.159%   and HKT-SS (06823.HK)  0.000 (0.000%)    Short selling $1.92M; Ratio 2.811%   rallied 2.3% to 3.2%, while POWER ASSETS (00006.HK)  0.000 (0.000%)    Short selling $27.71M; Ratio 17.112%   mounted 4.9%. Railway stocks CRRC (01766.HK)  0.000 (0.000%)    Short selling $1.41M; Ratio 3.310%   and TIMES ELECTRIC (03898.HK)  0.000 (0.000%)    Short selling $15.86M; Ratio 10.160%   also ascended 5% and 4.5%.

In financials, HSBC HOLDINGS (00005.HK)  0.000 (0.000%)    Short selling $60.85M; Ratio 7.595%   declined 0.6% to $69.5, HKEX (00388.HK)  0.000 (0.000%)    Short selling $347.01M; Ratio 18.626%   lost 1.1% and AIA (01299.HK)  0.000 (0.000%)    Short selling $264.40M; Ratio 18.535%   rose 0.9%. HANG SENG BANK (00011.HK)  0.000 (0.000%)    Short selling $29.77M; Ratio 26.803%   slumped 3.3% as the market continued to worry about its exposure to commercial real estate in Hong Kong.

XINYI SOLAR (00968.HK)  0.000 (0.000%)    Short selling $37.96M; Ratio 19.944%   shares receded 1.6% at midday despite a 41% rise in 1H24 net profit and an increase in interim dividend. HUTCHMED (00013.HK)  0.000 (0.000%)    Short selling $10.03M; Ratio 6.910%   's interim net profit crumpled 85.7%, sending its share price down 4.1%.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-12-12 16:25.)

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