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<HK Wrap-up>HSI Dives 162 Pts; Shippers Surge; EAST BUY Booms 21%+
The HSI sagged 162 pts or 0.97% to close at 16,629. The HSCEI fell 65 pts or 1.2% to close at 5,634. The HSTECH dropped 50 pts or 1.3% to close at 3,730. Total market turnover for ...
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<HK Wrap-up>HSI Dives 162 Pts; Shippers Surge; EAST BUY Booms 21%+
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The HSI sagged 162 pts or 0.97% to close at 16,629. The HSCEI fell 65 pts or 1.2% to close at 5,634. The HSTECH dropped 50 pts or 1.3% to close at 3,730. Total market turnover for the whole day was $94.317 billion.

As for techs, BABA-SW (09988.HK)  +2.650 (+3.482%)    Short selling $265.65M; Ratio 7.020%   reduced its shares in XPENG-W (09868.HK)  +1.450 (+4.246%)    Short selling $97.68M; Ratio 29.978%   to pocket US$391 million, dropping its stake to 7.5%. The former and the latter rose 0.6% and fell 6.7% respectively. TENCENT (00700.HK)  +2.800 (+0.777%)    Short selling $666.58M; Ratio 12.512%   lost 0.9%. BILIBILI-W (09626.HK)  +6.500 (+6.069%)    Short selling $73.53M; Ratio 22.129%   , BIDU-SW (09888.HK)  +3.800 (+3.602%)    Short selling $141.59M; Ratio 16.445%   , MEITUAN-W (03690.HK)  +0.200 (+0.168%)    Short selling $740.85M; Ratio 20.694%   and NTES-S (09999.HK)  +6.800 (+4.530%)    Short selling $71.31M; Ratio 11.525%   each faded 1.7%-3.3%. XIAOMI-W (01810.HK)  +0.460 (+2.608%)    Short selling $117.83M; Ratio 11.921%   lost 0.5% after it was reported that Xiaomi Automobile completed training for store managers in some cities.

Related NewsHSBC HOLDINGS 1Q Reported PBT Drops 1.8% to US$12.65B, In Line; 1st Interim + Spec. DPS US31 Cents
SENSETIME-W (00020.HK)  -0.080 (-4.819%)    Short selling $145.23M; Ratio 10.948%   founder Sean Tang passed away due to illness. Its shares stumbled 11.1% to close at $1.12, with turnover of nearly $618 million.

Shippers bucked the market to boom. SITC (01308.HK)  +0.480 (+2.664%)    Short selling $6.76M; Ratio 9.559%   soared 14.8%. COSCO SHIP HOLD (01919.HK)  +0.180 (+1.761%)    Short selling $7.35M; Ratio 7.636%   spiked 7.5%. COSCO SHIP ENGY (01138.HK)  +0.070 (+0.774%)    Short selling $3.47M; Ratio 19.692%   and PACIFIC BASIN (02343.HK)  -0.010 (-0.369%)    Short selling $1.71M; Ratio 17.520%   advanced 6.7% and 5.7%. COSCO SHIP INTL (00517.HK)  +0.010 (+0.271%)    Short selling $177.62K; Ratio 7.188%   added nearly 1%. OOIL (00316.HK)  +1.100 (+0.974%)    Short selling $5.94M; Ratio 12.546%   gained 4.16%, the best performing blue chip.

Hampered by the Israeli-Palestinian conflict, the world's top five shipping companies have stopped their services across the Red Sea, choosing to detour to the Cape of Good Hope to Europe. In addition, as COSCO SHIP INTL and OOIL have already notified the suspension of the Red Sea route for cargo loading, the market expected that shipping stocks may leverage the upsurge in freight rates.

Related NewsCiti: Breakthrough of Tesla's FSD into CN Mkt Will Greatly Weaken Potential of XPeng's NOA
EAST BUY (01797.HK)  +0.180 (+1.011%)    Short selling $5.18M; Ratio 15.863%   ’s "mini essay" turmoil has ceased for the time being. The company's CEO Sun Dongxu was removed from his post. The chairman Yu Minhong concurrently acted as the CEO, whereas Dong Yuhui was promoted to senior partner. The stock price shot up 21.9% at close, with a turnover of nearly $2.82 billion.

In addition, the company said its latest live streaming GMV was expected to top RMB100 million. Dong Yuhui was also appointed as cultural assistant to the chairman of NEW ORIENTAL-S (09901.HK)  +3.050 (+5.041%)    Short selling $9.74M; Ratio 4.246%   and vice president of New Oriental Cultural and Tourism Group. The stock price of NEW ORIENTAL closed up 0.6%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-03 12:25.)

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