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<Midday Wrap-up>HSI Losts 60 pts; LI AUTO Soars 21%, as Biotech Stocks Pressureised
HSI closed at 16,574 at noon, down 60 points or 0.4%. HSCEI added 3 points or 0.07% to 5,727. HSTECH mounted 33 points or nearly 1% to 3,426. Half-day turnover totalled $48.717 bil...
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<Midday Wrap-up>HSI Losts 60 pts; LI AUTO Soars 21%, as Biotech Stocks Pressureised
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HSI closed at 16,574 at noon, down 60 points or 0.4%. HSCEI added 3 points or 0.07% to 5,727. HSTECH mounted 33 points or nearly 1% to 3,426. Half-day turnover totalled $48.717 billion.

LI AUTO-W (02015.HK)  -1.200 (-1.105%)    Short selling $109.44M; Ratio 20.134%   , the best-performing blue-chip stock, rocketed 21% in the morning session. The company turned from a loss to a profit last year, earning RMB11.7 billion, beating the forecast, and expected its 1Q24 revenue to grow by 66.3% to 71.3% YoY. Chairman Li Xiang disclosed that the company would challenge the delivery target of 800,000 vehicles this year.

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Other car stocks were steady, with XPENG-W (09868.HK)  +1.000 (+2.265%)    Short selling $81.62M; Ratio 25.088%   and NIO-SW (09866.HK)  -0.950 (-2.230%)    Short selling $15.20M; Ratio 24.668%   up 2.7% and 1.8% each. BYD COMPANY (01211.HK)  -13.600 (-4.610%)    Short selling $333.80M; Ratio 18.319%   said it was too early to decide on building a second European plant in Italy, and its shares ascended 3.4% for the half-day. GEELY AUTO (00175.HK)  -0.760 (-5.270%)    Short selling $132.83M; Ratio 11.092%   increased 0.2%.

Technology stocks were generally soft, with TENCENT (00700.HK)  -6.400 (-1.557%)    Short selling $100.56M; Ratio 3.202%   down 2.3% and KUAISHOU-W (01024.HK)  -0.300 (-0.649%)    Short selling $76.88M; Ratio 15.065%   down 2.5%. NTES-S (09999.HK)  -1.800 (-1.433%)    Short selling $27.61M; Ratio 17.054%   , BIDU-SW (09888.HK)  0.000 (0.000%)    Short selling $20.89M; Ratio 17.078%   , JD-SW (09618.HK)  -0.400 (-0.257%)    Short selling $118.67M; Ratio 20.226%   , LENOVO GROUP (00992.HK)  -0.200 (-1.905%)    Short selling $15.14M; Ratio 15.398%   , MEITUAN-W (03690.HK)  -2.200 (-1.191%)    Short selling $167.16M; Ratio 11.872%   , and SENSETIME-W (00020.HK)  +0.010 (+0.645%)    Short selling $20.52M; Ratio 7.804%   were down between 0.8% and 1.9% respectively.

Biotech stocks were under pressure after the US Senate reportedly scheduled a hearing for the bill targeting Chinese biopharm companies next month. WUXI BIO (02269.HK)  -0.020 (-0.122%)    Short selling $39.58M; Ratio 10.838%   fell 1.3%, while WUXI APPTEC (02359.HK)  0.000 (0.000%)    Short selling $8.10M; Ratio 7.472%   from the same series lowered 1.5%. CUTIA-B (02487.HK)  +0.100 (+0.779%)    Short selling $12.62K; Ratio 0.131%   crumpled 7.7%, as BIOCYTOGEN-B (02315.HK)  +0.140 (+2.265%)   fell 2.7% and LAEKNA-B (02105.HK)  -0.520 (-6.025%)   declined 0.3%.

Related NewsUBS Trims HKEX (00388.HK) TP to $344, Slightly Drops 2024 HK Equities ADT Forecast to $131B
CLP HOLDINGS (00002.HK)  -0.400 (-0.602%)    Short selling $9.49M; Ratio 17.056%   elevated 3.1% for the half-day. The company logged a net profit of $6.655 billion last year, hiking 6.2 times YoY, with a fourth interim dividend of $1.21. It is also upgraded to Buy by Citi.

SAMSONITE (01910.HK)  +0.060 (+0.330%)    Short selling $4.33M; Ratio 5.991%   surged 14% in half a day, as foreign media reported that it is considering privatisation and other options. DING YI FENG (00612.HK)  -0.003 (-1.364%)   meanwhile cratered 21% after former chairman Sui Guangyi and 20 others were charged by SFC for manipulating the company's shares, with legal proceedings initiated.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-10-31 12:25.)

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