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Updated2024/11/29 13:49
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HSI Extends Losses to 540+ Pts After Midday, Missing 19,900-mark; CN Consumers/ Developers/ Insurers Falter
Opening 92 points, or 0.45%, lower this morning at 20,334, the HSI widened its losses afterward and broke below the 20,000- and 19,900-mark after midday, bottoming at 19,884. It la...
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HSI Extends Losses to 540+ Pts After Midday, Missing 19,900-mark; CN Consumers/ Developers/ Insurers Falter
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Opening 92 points, or 0.45%, lower this morning at 20,334, the HSI widened its losses afterward and broke below the 20,000- and 19,900-mark after midday, bottoming at 19,884. It last printed at 19,885, down 541 points or nearly 2.7%, with a turnover of $123.075 billion.

After a 21% surge and suspension of treading on the previous day (11th), ZHONGSHENG HLDG (00881.HK)  -0.100 (-0.648%)    Short selling $10.48M; Ratio 18.560%   resumed trading today and retreated 13.6% to as low as $16.36 at one point. It last printed at $17.52, down 7.5%, on a volume of 36.8368 million shares, involving $660 million. The company announced a preliminary agreement with Seres to further discuss the distribution of Seres' new energy vehicles.

Meanwhile, MEITUAN-W (03690.HK)  +0.200 (+0.116%)    Short selling $403.58M; Ratio 19.918%   last shed 5.71% to $175, on a turnover of $5.672 billion. CHINAHONGQIAO (01378.HK)  -0.120 (-1.051%)    Short selling $5.71M; Ratio 6.462%   was last at $13.04, plummeting 8.56%, on a turnover of $390 million.

Chinese consumer stocks caved under pressure, with JD-SW (09618.HK)  +2.300 (+1.617%)    Short selling $79.57M; Ratio 18.333%   , CHINA RES BEER (00291.HK)  +0.500 (+1.946%)    Short selling $23.17M; Ratio 17.883%   , HAIDILAO (06862.HK)  +0.820 (+5.511%)    Short selling $43.93M; Ratio 20.053%   , LI AUTO-W (02015.HK)  +3.000 (+3.419%)    Short selling $29.30M; Ratio 6.271%   , BUD APAC (01876.HK)  +0.040 (+0.543%)    Short selling $3.64M; Ratio 25.534%   , NONGFU SPRING (09633.HK)  +0.650 (+2.034%)    Short selling $57.12M; Ratio 26.374%   , and ANTA SPORTS (02020.HK)  +1.350 (+1.787%)    Short selling $70.01M; Ratio 18.463%   declining about 3-4%.

The two major Chinese blue-chip insurers, CHINA LIFE (02628.HK)  +0.100 (+0.686%)    Short selling $27.63M; Ratio 7.483%   and PING AN (02318.HK)  0.000 (0.000%)    Short selling $144.96M; Ratio 15.628%   , each fell over 3%. AIA (01299.HK)  +0.350 (+0.604%)    Short selling $217.38M; Ratio 43.612%   also sagged 2%. HKEX (00388.HK)  +2.000 (+0.695%)    Short selling $164.61M; Ratio 19.692%   lost 3.3%.

Among the three major Chinese blue-chip developers, CHINA OVERSEAS (00688.HK)  +0.100 (+0.753%)    Short selling $40.98M; Ratio 24.095%   , CHINA RES LAND (01109.HK)  +0.250 (+1.092%)    Short selling $23.56M; Ratio 19.709%   , and LONGFOR GROUP (00960.HK)  +0.380 (+3.565%)    Short selling $23.16M; Ratio 19.984%   each eroded about 2%. Foreign media reported that the mainland plans to cut the deed tax on property purchases to as low as 1% to support the housing market.

SINOPHARM (01099.HK)  +0.250 (+1.244%)    Short selling $13.08M; Ratio 12.420%   , WUXI APPTEC (02359.HK)  +1.250 (+2.735%)    Short selling $5.12M; Ratio 5.931%   , and NTES-S (09999.HK)  +2.800 (+2.115%)    Short selling $14.51M; Ratio 11.100%   rallied against the market by 1-2.4%, making them the three best performers among blue chips.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-29 12:25.)

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