The Hong Kong bourse opened higher in the morning session. The HSI opened 110 pts or 0.5% higher at 20,427; the HSCEI opened 47 pts or 0.7% higher at 7,311; and the HSTECH opened 5 pts or 0.1% higher at 4,504.

Techs elevated broadly. BABA-W (09988.HK)  +0.450 (+0.476%)    Short selling $380.12M; Ratio 10.455%   added 1.3% at $95.75. TENCENT (00700.HK)  +14.600 (+3.609%)    Short selling $447.53M; Ratio 5.101%   lifted 0.3% at $406. Xiaomi SU7 charted delivery of more than 20,000 vehicles last month. XIAOMI-W (01810.HK)  +0.600 (+2.247%)    Short selling $1.42B; Ratio 26.440%   opened 1.1% higher at $27. MEITUAN-W (03690.HK)  +5.100 (+2.795%)    Short selling $567.61M; Ratio 14.064%   and JD-SW (09618.HK)  +2.600 (+1.672%)    Short selling $218.59M; Ratio 17.974%   opened up over 2%.

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For autos, LI AUTO-W (02015.HK)  -10.300 (-9.590%)    Short selling $416.20M; Ratio 12.620%   ’s 3Q non-GAAP net profit went up 11% YoY, but its share price opened 8% lower at $98.8. Citi pointed out that the company faces risks related to the slowdown in the guidance for 4Q24 (16,000-17,000 units, which is not as strong as expected) after the analyst briefing.

NIO-SW (09866.HK)  -1.400 (-3.361%)    Short selling $34.65M; Ratio 35.990%   and XPENG-W (09868.HK)  -0.850 (-1.883%)    Short selling $169.46M; Ratio 27.368%   continued to give up 2% and 2.9% respectively. GEELY AUTO (00175.HK)  +0.180 (+1.318%)    Short selling $240.11M; Ratio 16.398%   opened 0.4% lower at $13.6, as Geely denied negotiating with the EU alone.

Pharmaceutical CSPC PHARMA (01093.HK)  -0.480 (-8.348%)    Short selling $199.48M; Ratio 14.054%   issued a profit warning, predicting a 16% decrease in profit for 9M24. The stock opened 13% lower.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-01 16:25.)

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