The Hong Kong stock market rallied in the morning session. The HSI opened 185 points higher, peaking at 20,783 with a surge of 496 points in the early session. It ended the midday at 20,460, up 174 points or 0.86% The HSCEI climbed 68 points, or 0.95%, to 7,336. The HSTECH grew 60 points, or 1.3%, to 4,462. The total market turnover for the half-day amounted to $107.746 billion.

Techs performed positively across the board. XIAOMI-W (01810.HK)  +1.450 (+6.277%)    Short selling $642.28M; Ratio 13.383%   surged 4% to $23.6. JD-SW (09618.HK)  +4.100 (+2.650%)    Short selling $482.41M; Ratio 13.052%   swelled 2.5%. MEITUAN-W (03690.HK)  +15.200 (+8.931%)    Short selling $1.24B; Ratio 12.399%   and BABA-W (09988.HK)  +2.000 (+2.030%)    Short selling $1.49B; Ratio 12.694%   added 1.7%. BIDU-SW (09888.HK)  +2.500 (+2.753%)    Short selling $125.51M; Ratio 11.588%   and TENCENT (00700.HK)  +18.200 (+4.411%)    Short selling $781.90M; Ratio 7.088%   inclined 1.3% and 1%. In addition, CHINASOFT INT'L (00354.HK)  +0.800 (+14.286%)    Short selling $210.84M; Ratio 21.362%   and GDS-SW (09698.HK)  +1.050 (+4.965%)    Short selling $7.56M; Ratio 13.391%   jumped up by 7.6% and 7%. KINGDEE INT'L (00268.HK)  +0.510 (+5.903%)    Short selling $69.69M; Ratio 18.423%   and SENSETIME-W (00020.HK)  +0.140 (+9.211%)    Short selling $111.98M; Ratio 6.096%   rose 4.8% and 4%. Chip stock SMIC (00981.HK)  +4.250 (+16.346%)    Short selling $948.87M; Ratio 5.473%   and smartphone component stock AAC TECH (02018.HK)  +2.400 (+7.742%)    Short selling $48.74M; Ratio 13.703%   ascended 3.1% and 3.2%.

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Chinese developers caved under pressure. SUNAC (01918.HK)  +0.170 (+7.589%)    Short selling $11.30M; Ratio 0.315%   plans a top-up placing at a discount of nearly 20% to raise $1.19 billion in net proceeds. Its stock price plunged 21%. R&F PROPERTIES (02777.HK)  +0.100 (+6.452%)    Short selling $11.25M; Ratio 7.293%   and SHIMAO GROUP (00813.HK)  +0.090 (+6.569%)   cascaded 17% and 14%. KWG GROUP (01813.HK)  +0.020 (+4.000%)   , AGILE GROUP (03383.HK)  +0.060 (+6.897%)   , LONGFOR GROUP (00960.HK)  +0.500 (+4.195%)    Short selling $80.00M; Ratio 12.631%   , SEAZEN (01030.HK)  +0.070 (+3.349%)    Short selling $25.74M; Ratio 25.300%   , CHINA VANKE (02202.HK)  +0.290 (+4.381%)    Short selling $91.51M; Ratio 8.188%   , SINO-OCEAN GP (03377.HK)  +0.005 (+1.587%)   , and CIFI HOLD GP (00884.HK)  +0.010 (+2.632%)    Short selling $2.03M; Ratio 3.447%   shed 9-12%. Building material stocks BBMG (02009.HK)  +0.010 (+1.316%)    Short selling $2.16M; Ratio 9.691%   , CNBM (03323.HK)  +0.170 (+5.782%)    Short selling $36.13M; Ratio 19.386%   , and MAANSHAN IRON (00323.HK)  +0.060 (+5.263%)    Short selling $1.12M; Ratio 11.881%   also slid 2.5-3.3%.

Regarding Chinese insurers, CHINA LIFE (02628.HK)  +1.020 (+6.522%)    Short selling $395.08M; Ratio 16.475%   forecasted its 1-3Q net profit to grow 1.65-1.85 times YoY. Its stock price soared 2.6%. CHINA TAIPING (00966.HK)  +0.680 (+4.878%)    Short selling $19.80M; Ratio 4.738%   spiked 3.5%. Brokers CGS (06881.HK)  +0.640 (+10.458%)    Short selling $63.33M; Ratio 6.146%   and HAITONG SEC (06837.HK)  +0.310 (+4.697%)    Short selling $16.73M; Ratio 1.851%   gained 2.9% and 2.8%. Financial stocks HSBC HOLDINGS (00005.HK)  +0.750 (+1.104%)    Short selling $381.32M; Ratio 28.514%   , HKEX (00388.HK)  +17.000 (+5.667%)    Short selling $211.77M; Ratio 4.132%   , and AIA (01299.HK)  +0.900 (+1.440%)    Short selling $251.66M; Ratio 11.670%   edged up 0.2-0.7%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-10-18 16:25.)