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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)  -2.550 (-3.021%)    Short selling $457.24M; Ratio 10.857%   , which plans to launch an AI dialogue-based procurement engine in September, inclined 0.5%, TENCENT (00700.HK)  -4.400 (-1.079%)    Short selling $695.79M; Ratio 23.195%   and MEITUAN-W (03690.HK)  -4.700 (-2.721%)    Short selling $484.83M; Ratio 29.128%   added 0.6% and 0.3%, while XIAOMI-W (01810.HK)  +0.850 (+3.020%)    Short selling $967.00M; Ratio 19.874%   and BILIBILI-W (09626.HK)  -2.800 (-1.897%)    Short selling $25.47M; Ratio 14.246%   fell 1.2% and 1.7%. BIDU-SW (09888.HK)  -7.700 (-9.183%)    Short selling $284.30M; Ratio 23.259%   and NTES-S (09999.HK)  +0.400 (+0.292%)    Short selling $94.15M; Ratio 25.220%   dived more than 2%, as JD-SW (09618.HK)  +1.000 (+0.725%)    Short selling $302.57M; Ratio 26.476%   and KINGDEE INT'L (00268.HK)  -0.340 (-3.606%)    Short selling $35.39M; Ratio 31.228%   slumped 4.8% and 4.3%.

NEW ORIENTAL-S (09901.HK)  +0.350 (+0.787%)    Short selling $29.04M; Ratio 35.235%   saw its 4FQ net profit fall 6.9%, and its shares crashed 12.4%. EAST BUY (01797.HK)  -0.160 (-1.127%)    Short selling $3.96M; Ratio 9.558%   from the same series declined 1.3%.

Individual consumer stocks were under pressure, with sportswear stocks LI NING (02331.HK)  -0.600 (-3.690%)    Short selling $22.77M; Ratio 21.791%   and TOPSPORTS (06110.HK)  -0.100 (-4.115%)    Short selling $9.15M; Ratio 20.224%   plummeting 5.8% and 5.1%. Restaurant stocks YIHAI INTL (01579.HK)  -0.320 (-2.343%)    Short selling $463.18K; Ratio 7.770%   , HAIDILAO (06862.HK)  -0.400 (-2.581%)    Short selling $16.08M; Ratio 20.819%   and JIUMAOJIU (09922.HK)  -0.070 (-2.201%)    Short selling $1.72M; Ratio 7.614%   routed 3.6% to 4.1%, while NONGFU SPRING (09633.HK)  +0.750 (+2.439%)    Short selling $145.55M; Ratio 36.856%   shed 3%. BUD APAC (01876.HK)  -0.130 (-1.747%)    Short selling $9.04M; Ratio 28.925%   ‘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)  -0.160 (-2.763%)    Short selling $6.94M; Ratio 28.453%   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)  -0.360 (-3.214%)    Short selling $27.11M; Ratio 26.542%   , CHINA RES LAND (01109.HK)  -0.950 (-4.034%)    Short selling $34.72M; Ratio 18.823%   , CHINA VANKE (02202.HK)  -0.070 (-1.097%)    Short selling $16.93M; Ratio 13.767%   and AGILE GROUP (03383.HK)  -0.020 (-2.532%)   descended 3% to 4%.

Expectations of interest rate cuts propelled public sector stocks. CLP HOLDINGS (00002.HK)  -0.450 (-0.672%)    Short selling $13.34M; Ratio 32.108%   , HK & CHINA GAS (00003.HK)  -0.050 (-0.835%)    Short selling $5.83M; Ratio 22.274%   , CKI HOLDINGS (01038.HK)  -0.650 (-1.198%)    Short selling $3.34M; Ratio 12.446%   and HKT-SS (06823.HK)  -0.040 (-0.422%)    Short selling $598.29K; Ratio 6.229%   rallied 2.3% to 3.2%, while POWER ASSETS (00006.HK)  -0.500 (-0.978%)    Short selling $10.43M; Ratio 21.668%   mounted 4.9%. Railway stocks CRRC (01766.HK)  -0.070 (-1.458%)    Short selling $1.22M; Ratio 7.449%   and TIMES ELECTRIC (03898.HK)  -0.200 (-0.712%)    Short selling $1.12M; Ratio 4.072%   also ascended 5% and 4.5%.

In financials, HSBC HOLDINGS (00005.HK)  -0.250 (-0.351%)    Short selling $88.87M; Ratio 24.186%   declined 0.6% to $69.5, HKEX (00388.HK)  -12.600 (-4.223%)    Short selling $261.72M; Ratio 19.156%   lost 1.1% and AIA (01299.HK)  -0.450 (-0.792%)    Short selling $260.85M; Ratio 21.164%   rose 0.9%. HANG SENG BANK (00011.HK)  -0.950 (-1.022%)    Short selling $21.13M; Ratio 35.440%   slumped 3.3% as the market continued to worry about its exposure to commercial real estate in Hong Kong.

XINYI SOLAR (00968.HK)  -0.150 (-4.601%)    Short selling $24.15M; Ratio 11.627%   shares receded 1.6% at midday despite a 41% rise in 1H24 net profit and an increase in interim dividend. HUTCHMED (00013.HK)  -0.400 (-1.434%)    Short selling $7.15M; Ratio 18.794%   '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 2024-11-22 12:25.)

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