USD/CNH once fell below the 7.13 mark today, and bottomed at an over-1-month low of 7.1342. It last printed at 7.1271, down 335 bps or nearly 0.5%. USD/CNY once dropped below the 7.12 mark to a low of 7.1223, and last printed at 7.1165, down 265 bps or nearly 0.4%.

The HSI once shed 833 points to a low of 20,259 after midday, and last cratered 822 points or 3.9% to 20,270, with a turnover of $191.443 billion. The HSTECH's decline widened to 4.4% and stood at 4,460.

Related NewsCiti Foresees MEITUAN-W 3Q Non-GAAP NP RMB13.8B Beats Consensus
Only 4 of the 82 constituents of the HSI rose. Chinese consumers were under significant pressure. CR BEVERAGE (02460.HK)  -0.060 (-0.398%)   started its IPO today, while its same series CHINA RES BEER (00291.HK)  +0.550 (+1.868%)    Short selling $33.47M; Ratio 18.357%   plunged 12.4% to $29.6, with a turnover of $1.056 billion. MENGNIU DAIRY (02319.HK)  +0.440 (+2.716%)    Short selling $43.75M; Ratio 14.971%   eroded 7.92% to $16.04, with a turnover of $594 million. NONGFU SPRING (09633.HK)  +0.300 (+1.029%)    Short selling $99.07M; Ratio 40.098%   last printed at $30.2, down 5.2%, while LI NING (02331.HK)  +0.380 (+2.452%)    Short selling $64.26M; Ratio 12.913%   , BUD APAC (01876.HK)  -0.080 (-0.958%)    Short selling $27.67M; Ratio 21.130%   and HAIDILAO (06862.HK)  +0.160 (+1.043%)    Short selling $17.51M; Ratio 13.094%   receded about 5-6%.

Heavy-weighting techs dented the market, with MEITUAN-W (03690.HK)  -2.100 (-1.123%)    Short selling $436.89M; Ratio 9.462%   last dipping 7.35% to $170.1, with a turnover of $9.353 billion. BABA-W (09988.HK)  +1.200 (+1.275%)    Short selling $738.88M; Ratio 14.411%   , TENCENT (00700.HK)  -1.000 (-0.237%)    Short selling $415.57M; Ratio 8.241%   , BIDU-SW (09888.HK)  +0.300 (+0.346%)    Short selling $50.79M; Ratio 11.102%   , JD-SW (09618.HK)  +2.000 (+1.297%)    Short selling $204.80M; Ratio 16.695%   and TRIP.COM-S (09961.HK)  +2.400 (+0.499%)    Short selling $130.34M; Ratio 21.376%   also cascaded 4.5-6.7%.

Local heavy-weighting financials decreased, with HSBC HOLDINGS (00005.HK)  +0.100 (+0.145%)    Short selling $57.38M; Ratio 12.052%   sliding 0.9%. AIA (01299.HK)  +0.950 (+1.535%)    Short selling $248.35M; Ratio 12.434%   lost 3.8%, while HKEX (00388.HK)  +1.200 (+0.385%)    Short selling $53.32M; Ratio 3.217%   descended 5.3% to $305.6, with a turnover of $5.344 billion. BOC HONG KONG (02388.HK)  0.000 (0.000%)    Short selling $13.01M; Ratio 10.359%   also faded 1.6%.

Related NewsMacquarie: Probability of CN Restriction on Polysilicon Production Based on Energy Efficiency Very Slim
Heavy-weighting Chinese banks softened. BANK OF CHINA (03988.HK)  -0.010 (-0.264%)    Short selling $122.07M; Ratio 21.778%   , CCB (00939.HK)  -0.060 (-0.976%)    Short selling $330.61M; Ratio 22.705%   and ICBC (01398.HK)  -0.030 (-0.629%)    Short selling $209.29M; Ratio 22.523%   waned 1.5-2%, while CM BANK (03968.HK)  -0.050 (-0.126%)    Short selling $34.36M; Ratio 15.179%   last printed at $38.95, down 4.4%, with turnover of $755 million. CHINA LIFE (02628.HK)  0.000 (0.000%)    Short selling $81.20M; Ratio 12.572%   and PING AN (02318.HK)  +0.150 (+0.307%)    Short selling $203.48M; Ratio 15.030%   also tumbled over 5%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-10-25 16:25.)