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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)  -0.650 (-0.782%)    Short selling $173.28M; Ratio 7.876%   , which plans to launch an AI dialogue-based procurement engine in September, inclined 0.5%, TENCENT (00700.HK)  -2.600 (-0.619%)    Short selling $278.46M; Ratio 8.776%   and MEITUAN-W (03690.HK)  -0.500 (-0.322%)    Short selling $231.27M; Ratio 9.599%   added 0.6% and 0.3%, while XIAOMI-W (01810.HK)  +1.400 (+4.275%)    Short selling $772.92M; Ratio 12.090%   and BILIBILI-W (09626.HK)  -0.500 (-0.336%)    Short selling $27.63M; Ratio 13.409%   fell 1.2% and 1.7%. BIDU-SW (09888.HK)  -0.650 (-0.759%)    Short selling $94.79M; Ratio 37.615%   and NTES-S (09999.HK)  -0.500 (-0.351%)    Short selling $15.07M; Ratio 14.943%   dived more than 2%, as JD-SW (09618.HK)  -5.000 (-3.549%)    Short selling $41.46M; Ratio 6.739%   and KINGDEE INT'L (00268.HK)  -0.280 (-3.091%)    Short selling $33.60M; Ratio 13.244%   slumped 4.8% and 4.3%.

NEW ORIENTAL-S (09901.HK)  -0.850 (-1.729%)    Short selling $4.06M; Ratio 12.957%   saw its 4FQ net profit fall 6.9%, and its shares crashed 12.4%. EAST BUY (01797.HK)  -0.640 (-3.579%)    Short selling $46.74M; Ratio 6.561%   from the same series declined 1.3%.

Individual consumer stocks were under pressure, with sportswear stocks LI NING (02331.HK)  -0.200 (-1.192%)    Short selling $19.68M; Ratio 11.380%   and TOPSPORTS (06110.HK)  +0.050 (+1.767%)    Short selling $2.08M; Ratio 8.832%   plummeting 5.8% and 5.1%. Restaurant stocks YIHAI INTL (01579.HK)  -0.680 (-4.309%)    Short selling $11.54M; Ratio 22.074%   , HAIDILAO (06862.HK)  -0.560 (-3.294%)    Short selling $24.88M; Ratio 12.977%   and JIUMAOJIU (09922.HK)  -0.160 (-4.444%)    Short selling $776.62K; Ratio 1.319%   routed 3.6% to 4.1%, while NONGFU SPRING (09633.HK)  -1.350 (-3.824%)    Short selling $59.86M; Ratio 19.480%   shed 3%. BUD APAC (01876.HK)  +0.110 (+1.505%)    Short selling $11.32M; Ratio 20.725%   ‘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)  -0.010 (-0.195%)    Short selling $1.65M; Ratio 6.433%   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)  -0.280 (-2.697%)    Short selling $11.59M; Ratio 18.159%   , CHINA RES LAND (01109.HK)  +0.050 (+0.217%)    Short selling $26.41M; Ratio 21.194%   , CHINA VANKE (02202.HK)  -0.030 (-0.532%)    Short selling $16.23M; Ratio 15.426%   and AGILE GROUP (03383.HK)  -0.020 (-2.532%)   descended 3% to 4%.

Expectations of interest rate cuts propelled public sector stocks. CLP HOLDINGS (00002.HK)  -0.250 (-0.386%)    Short selling $11.10M; Ratio 14.908%   , HK & CHINA GAS (00003.HK)  +0.050 (+0.814%)    Short selling $5.53M; Ratio 21.570%   , CKI HOLDINGS (01038.HK)  +0.400 (+0.708%)    Short selling $6.23M; Ratio 14.536%   and HKT-SS (06823.HK)  +0.030 (+0.317%)    Short selling $434.90K; Ratio 2.590%   rallied 2.3% to 3.2%, while POWER ASSETS (00006.HK)  -0.050 (-0.093%)    Short selling $11.01M; Ratio 22.927%   mounted 4.9%. Railway stocks CRRC (01766.HK)  +0.010 (+0.207%)    Short selling $834.54K; Ratio 2.171%   and TIMES ELECTRIC (03898.HK)  -0.550 (-1.763%)    Short selling $2.20M; Ratio 5.368%   also ascended 5% and 4.5%.

In financials, HSBC HOLDINGS (00005.HK)  +0.300 (+0.401%)    Short selling $46.09M; Ratio 9.354%   declined 0.6% to $69.5, HKEX (00388.HK)  -3.600 (-1.195%)    Short selling $134.85M; Ratio 21.694%   lost 1.1% and AIA (01299.HK)  -0.250 (-0.441%)    Short selling $43.27M; Ratio 13.358%   rose 0.9%. HANG SENG BANK (00011.HK)  +0.500 (+0.528%)    Short selling $11.45M; Ratio 17.456%   slumped 3.3% as the market continued to worry about its exposure to commercial real estate in Hong Kong.

XINYI SOLAR (00968.HK)  -0.040 (-1.266%)    Short selling $31.75M; Ratio 34.026%   shares receded 1.6% at midday despite a 41% rise in 1H24 net profit and an increase in interim dividend. HUTCHMED (00013.HK)  -0.150 (-0.670%)    Short selling $3.43M; Ratio 10.061%   '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 2024-12-27 12:25.)

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