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<HK Wrap-up>HSI Spikes 462 pts; CG Rockets Nearly 15%, as SMIC Hikes 10%
HSI opened 210 points higher today (4 Sep) and once surged 517 points to 18,899. It closed at 18,844, up 462 points or 2.5%, ending its two-session losing streak. HSCEI rose 201 po...
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<HK Wrap-up>HSI Spikes 462 pts; CG Rockets Nearly 15%, as SMIC Hikes 10%
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HSI opened 210 points higher today (4 Sep) and once surged 517 points to 18,899. It closed at 18,844, up 462 points or 2.5%, ending its two-session losing streak. HSCEI rose 201 points, or 3.2%, to close at 6,533. HSTECH elevated 125 points or 3% to close at 4,305. Total market turnover for the day was $152.687 billion.

China's new policy to use home ownership instead of mortgage records to determine 1st-time mortgage qualification is expected to lift the restriction on property purchases in the core areas of big cities, and mainland real estate stocks have rallied.

Related NewsM Stanley Raises TENCENT (00700.HK) TP to $450 as Top Pick in BATM
CHINA RES LAND (01109.HK)  -0.100 (-0.304%)    Short selling $207.82M; Ratio 22.533%   elevated nearly 10%. LONGFOR GROUP (00960.HK)  -0.260 (-1.699%)    Short selling $198.50M; Ratio 21.045%   and CHINA OVERSEAS (00688.HK)  -0.180 (-1.090%)    Short selling $183.62M; Ratio 31.112%   inclined more than 8%. SUNAC (01918.HK)  -0.070 (-3.784%)    Short selling $35.68M; Ratio 2.126%   rocketed 34%. SHIMAO GROUP (00813.HK)  -0.150 (-11.364%)   closed surging 20% despite its 1H23 loss widened to RMB12.058 billion. SEAZEN (01030.HK)  -0.120 (-6.977%)    Short selling $17.00M; Ratio 8.474%   soared 18.3%. KAISA GROUP (01638.HK)  -0.021 (-10.448%)   spiked 15%. SSINO-OCEAN GP (03377.HK)  -0.060 (-9.524%)   advanced 13.7%.

The quarterly review of HSI constituents will be implemented after the market closes today. The to-be blue chip SINOPHARM (01099.HK)  +0.050 (+0.228%)    Short selling $23.59M; Ratio 18.788%   rose 1.1%, while COUNTRY GARDEN (02007.HK)  0.000 (0.000%)   , which will be excluded from the blue chip list, closed hiking 14.6% on the day to $1.02. It was also reported that the extension proposal of the group's domestic bond "16 Biyuan 05" has been approved by the required number of votes. CG SERVICES (06098.HK)  -0.130 (-1.906%)    Short selling $64.20M; Ratio 14.830%   from the same series closed up 4.1% even though it will be removed from being an HSCEI constituent.

In addition, TRIP.COM-S (09961.HK)  -2.000 (-0.456%)    Short selling $115.75M; Ratio 10.861%   , which was included in the HSCEI, escalated 6.6%. EAST BUY (01797.HK)  -0.740 (-3.903%)    Short selling $5.61M; Ratio 2.827%   , which was included in the HSTECH, dropped 0.1%, while AAC TECH (02018.HK)  -0.200 (-0.830%)    Short selling $29.43M; Ratio 15.070%   , which was excluded from the HSTECH, mounted 1.8%.

Related NewsJPM: Top Picks for CN EV Industrial Chain BYD COMPANY, CATL, FUYAO GLASS
For tech stocks, BABA-SW (09988.HK)  -0.350 (-0.408%)    Short selling $326.15M; Ratio 7.174%   escalated 3.3%, and TENCENT (00700.HK)  0.000 (0.000%)    Short selling $1.12B; Ratio 12.629%   rose 2.6%. MEITUAN-W (03690.HK)  -1.000 (-0.800%)    Short selling $477.89M; Ratio 13.358%   , JD-SW (09618.HK)  +2.700 (+2.013%)    Short selling $383.57M; Ratio 20.241%   and BILIBILI-W (09626.HK)  -1.000 (-0.775%)    Short selling $160.47M; Ratio 15.910%   lifted 3.3% to nearly 5%. BIDU-SW (09888.HK)  -3.500 (-3.156%)    Short selling $233.11M; Ratio 19.182%   shares increased 3.4%, as its Ernie Bot answered 33.42 million questions on debut day. KUAISHOU-W (01024.HK)  +0.950 (+1.632%)    Short selling $276.21M; Ratio 12.896%   and XIAOMI-W (01810.HK)  -0.060 (-0.301%)    Short selling $229.61M; Ratio 9.247%   inclined 2% and 0.5% each. SENSETIME-W (00020.HK)  +0.170 (+12.143%)    Short selling $100.27M; Ratio 3.062%   hiked 7.7%.

SMIC (00981.HK)  -0.140 (-0.831%)    Short selling $11.51M; Ratio 2.159%   closed up 10.9% after Huawei's Mate 60 Pro is rumoured to have used SMIC's advanced process.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-20 16:25.)

Related NewsJPM Hikes TENCENT (00700.HK) TP to $480; Multiple Surprises May Further Propel Shr Price

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