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<H Shrs>HSI Wanes 33 pts at Midday; CN Property & Domestic Demand Stocks Weak, but Utilities Rally
Hong Kong stocks were soft in the morning, dipping 33 points or 0.2% to 17,311 at midday. HSCEI fell 22 points or 0.4% to 6,084. HSTECH receded 45 points or 1.3% to 3,471. Half-day...
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<H Shrs>HSI Wanes 33 pts at Midday; CN Property & Domestic Demand Stocks Weak, but Utilities Rally
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Hong Kong stocks were soft in the morning, dipping 33 points or 0.2% to 17,311 at midday. HSCEI fell 22 points or 0.4% to 6,084. HSTECH receded 45 points or 1.3% to 3,471. Half-day turnover totalled $53.221 billion.

As for dotcom stocks, BABA-SW (09988.HK)  +0.100 (+0.120%)    Short selling $810.25M; Ratio 12.457%   , which plans to launch an AI dialogue-based procurement engine in September, inclined 0.5%, TENCENT (00700.HK)  +0.200 (+0.051%)    Short selling $557.92M; Ratio 8.338%   and MEITUAN-W (03690.HK)  +1.100 (+0.670%)    Short selling $937.45M; Ratio 22.028%   added 0.6% and 0.3%, while XIAOMI-W (01810.HK)  -0.100 (-0.368%)    Short selling $1.01B; Ratio 20.848%   and BILIBILI-W (09626.HK)  -0.900 (-0.634%)    Short selling $26.88M; Ratio 10.870%   fell 1.2% and 1.7%. BIDU-SW (09888.HK)  -0.200 (-0.247%)    Short selling $185.83M; Ratio 14.133%   and NTES-S (09999.HK)  +3.200 (+2.419%)    Short selling $155.79M; Ratio 22.545%   dived more than 2%, as JD-SW (09618.HK)  +3.400 (+2.504%)    Short selling $289.86M; Ratio 18.216%   and KINGDEE INT'L (00268.HK)  +0.060 (+0.733%)    Short selling $41.23M; Ratio 26.639%   slumped 4.8% and 4.3%.

NEW ORIENTAL-S (09901.HK)  -0.650 (-1.407%)    Short selling $43.28M; Ratio 32.594%   saw its 4FQ net profit fall 6.9%, and its shares crashed 12.4%. EAST BUY (01797.HK)  -0.420 (-2.861%)    Short selling $24.89M; Ratio 18.648%   from the same series declined 1.3%.

Individual consumer stocks were under pressure, with sportswear stocks LI NING (02331.HK)  -0.180 (-1.169%)    Short selling $64.61M; Ratio 24.661%   and TOPSPORTS (06110.HK)  0.000 (0.000%)    Short selling $7.19M; Ratio 3.821%   plummeting 5.8% and 5.1%. Restaurant stocks YIHAI INTL (01579.HK)  -0.220 (-1.664%)    Short selling $5.46M; Ratio 12.521%   , HAIDILAO (06862.HK)  -0.260 (-1.764%)    Short selling $21.16M; Ratio 11.572%   and JIUMAOJIU (09922.HK)  -0.030 (-0.946%)    Short selling $3.97M; Ratio 6.127%   routed 3.6% to 4.1%, while NONGFU SPRING (09633.HK)  -0.300 (-0.945%)    Short selling $138.18M; Ratio 33.937%   shed 3%. BUD APAC (01876.HK)  -0.120 (-1.619%)    Short selling $22.71M; Ratio 25.444%   ‘s half-year net profit decreased 5.9% and was below consensus expectations. Its shares retreated 2.4%.

Chinese property stocks broadly fell, with YUEXIU PROPERTY (00123.HK)  -0.020 (-0.367%)    Short selling $5.51M; Ratio 9.106%   collapsing 11%. Morgan Stanley expected YUEXIU's contracted sales to be around RMB5 billion in July, cratering 67% MoM, while UBS expected the amount to crash 68% MoM to about RMB4.9 billion. Peers LONGFOR GROUP (00960.HK)  0.000 (0.000%)    Short selling $27.18M; Ratio 18.660%   , CHINA RES LAND (01109.HK)  -0.050 (-0.221%)    Short selling $47.72M; Ratio 21.171%   , CHINA VANKE (02202.HK)  -0.120 (-1.974%)    Short selling $25.10M; Ratio 17.715%   and AGILE GROUP (03383.HK)  -0.020 (-2.597%)   descended 3% to 4%.

Expectations of interest rate cuts propelled public sector stocks. CLP HOLDINGS (00002.HK)  -0.250 (-0.384%)    Short selling $59.26M; Ratio 18.578%   , HK & CHINA GAS (00003.HK)  -0.050 (-0.847%)    Short selling $19.50M; Ratio 28.722%   , CKI HOLDINGS (01038.HK)  -0.200 (-0.369%)    Short selling $14.47M; Ratio 18.142%   and HKT-SS (06823.HK)  +0.020 (+0.212%)    Short selling $548.33K; Ratio 1.253%   rallied 2.3% to 3.2%, while POWER ASSETS (00006.HK)  -0.450 (-0.887%)    Short selling $32.34M; Ratio 20.965%   mounted 4.9%. Railway stocks CRRC (01766.HK)  -0.080 (-1.743%)    Short selling $1.47M; Ratio 4.924%   and TIMES ELECTRIC (03898.HK)  -0.200 (-0.734%)    Short selling $2.63M; Ratio 7.727%   also ascended 5% and 4.5%.

In financials, HSBC HOLDINGS (00005.HK)  +0.050 (+0.070%)    Short selling $176.21M; Ratio 27.235%   declined 0.6% to $69.5, HKEX (00388.HK)  -1.200 (-0.423%)    Short selling $219.37M; Ratio 19.666%   lost 1.1% and AIA (01299.HK)  +0.250 (+0.438%)    Short selling $287.07M; Ratio 23.057%   rose 0.9%. HANG SENG BANK (00011.HK)  -0.450 (-0.491%)    Short selling $21.50M; Ratio 11.393%   slumped 3.3% as the market continued to worry about its exposure to commercial real estate in Hong Kong.

XINYI SOLAR (00968.HK)  +0.020 (+0.625%)    Short selling $47.18M; Ratio 21.140%   shares receded 1.6% at midday despite a 41% rise in 1H24 net profit and an increase in interim dividend. HUTCHMED (00013.HK)  +0.250 (+0.911%)    Short selling $14.19M; Ratio 14.635%   's interim net profit crumpled 85.7%, sending its share price down 4.1%.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-26 16:25.)

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