TENCENT (00700.HK)  +11.200 (+2.697%)    Short selling $3.61B; Ratio 18.889%   mounted nearly 3.2% to $428.4 today, while WEIMOB INC (02013.HK)  +0.520 (+25.366%)    Short selling $260.28M; Ratio 6.407%   soared 23.9%. EAST BUY (01797.HK)  +2.200 (+15.537%)    Short selling $179.10M; Ratio 13.060%   spiked over 14.4%, but BABA-W (09988.HK)  -2.850 (-3.436%)    Short selling $1.70B; Ratio 15.943%   cratered 3.3%. KUAISHOU-W (01024.HK)  -2.450 (-5.420%)    Short selling $1.08B; Ratio 29.537%   descended 4.6%, while JD-SW (09618.HK)  -4.300 (-3.035%)    Short selling $241.93M; Ratio 7.618%   waned 2.3%.

TENCENT's WeChat team announced that Weixin Shop opened the "Send Gifts" function for grey box testing, Chinese broker Huajin Securities released a research report saying.

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Except for jewelry and education & training categories, items with an original price of not more than RMB10,000 in other categories of Weixin Shop will support the "Send Gifts" function by default. Products that meet the rules will automatically open the "Send Gifts" function.

WeChat itself has a social e-commerce, content e-commerce and private traffic e-commerce traits, and Weixin Shop's new feature is based on its own social nature, building an internal circulation of traffic in combination with channels, meanwhile continuing to attract external traffic, Huajin Securities added. It is expected to advance the formation of a complete and closed-loop ecosystem for WeChat e-commerce.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-12-20 16:25.)