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<H Shrs>HSI Closes Down 176 pts as WEIMOB INC Sinks 40%; SUNAC Dips 25%+
The HSI slid 176 points or 0.9% to close at 19,064. The HSCEI dropped 80 points or 1.2% to close at 6,898. The HSTECH lost 50 points or 1.2% to close at 4,260. The total market tur...
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<H Shrs>HSI Closes Down 176 pts as WEIMOB INC Sinks 40%; SUNAC Dips 25%+
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The HSI slid 176 points or 0.9% to close at 19,064. The HSCEI dropped 80 points or 1.2% to close at 6,898. The HSTECH lost 50 points or 1.2% to close at 4,260. The total market turnover for the day amounted to $144.698 billion.

The WeChat HarmonyOS Native Edition has been officially launched. TENCENT (00700.HK)  -1.600 (-0.433%)    Short selling $1.14B; Ratio 15.867%   ebbed 1% along with the market. TENCENT cut its stake in WEIMOB INC (02013.HK)  -0.070 (-3.723%)    Short selling $1.19M; Ratio 0.159%   to cash out over $410 million, and sold UBTECH ROBOTICS (09880.HK)  -4.150 (-8.973%)   for about $1.034 billion. WEIMOB INC collapsed 40.9%, while UBTECH ROBOTICS plunged 10.1%.

Taobao and Tmall intended to establish an account integrity system and optimize the “Tuihuobao” mechanism. BABA-W (09988.HK)  -1.650 (-2.073%)    Short selling $339.09M; Ratio 15.921%   waned 1.2%. Goldman Sachs has raised its target price for NTES-S (09999.HK)  +2.600 (+1.772%)    Short selling $341.45M; Ratio 27.811%   , lifting the company's share price by 1.4%. As the speculation in external chip stocks continued, SMIC (00981.HK)  +1.800 (+5.564%)    Short selling $268.74M; Ratio 8.342%   climbed 2.9%.

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SUNAC (01918.HK)  +0.170 (+13.077%)    Short selling $10.91M; Ratio 1.815%   drifted 25.7% lower as it received a winding up petition issued by China Cinda. Other Chinese developers were also under pressure, with CHINA VANKE (02202.HK)  +0.140 (+2.979%)    Short selling $22.77M; Ratio 17.941%   and SINO-OCEAN GP (03377.HK)  0.000 (0.000%)   cascading 4.7% and 6.2%. CIFI HOLD GP (00884.HK)  +0.009 (+3.659%)    Short selling $31.94K; Ratio 0.827%   descended 7.2%, while R&F PROPERTIES (02777.HK)  +0.080 (+6.897%)    Short selling $1.21M; Ratio 5.662%   , KWG GROUP (01813.HK)  -0.005 (-1.563%)   , SHIMAO GROUP (00813.HK)  -0.020 (-2.326%)    Short selling $586.18K; Ratio 4.186%   and AGILE GROUP (03383.HK)  +0.020 (+3.333%)   eroded 8.6-9.4%. Chinese insurers PING AN (02318.HK)  +0.050 (+0.122%)    Short selling $296.26M; Ratio 22.966%   , CPIC (02601.HK)  -0.150 (-0.686%)    Short selling $7.26M; Ratio 7.075%   and CHINA LIFE (02628.HK)  -0.140 (-1.069%)    Short selling $57.36M; Ratio 14.351%   also stumbled 4-4.4%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-13 12:25.)

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