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<H Shrs>HSI Closes Plunging 289 Pts; Building Materials/ Infra/ Brokers/ Pharmas Tumble; MEITUAN-W, XPENG-W Rally Against Mkt
After a volatile session following a slump of over 2,100 points yesterday (8th), the Hong Kong market saw significant fluctuations today. The HSI opened 363 points higher, once ris...
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<H Shrs>HSI Closes Plunging 289 Pts; Building Materials/ Infra/ Brokers/ Pharmas Tumble; MEITUAN-W, XPENG-W Rally Against Mkt
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After a volatile session following a slump of over 2,100 points yesterday (8th), the Hong Kong market saw significant fluctuations today. The HSI opened 363 points higher, once rising 490 points to peak at 21,417. It then plummeted 736 points to as low as 20,190 at one point. Although news of a press conference by the State Council Information Office on stronger fiscal policy boosted the market temporarily after midday, the HSI still closed the day down 289 points, or 1.4%, at 20,637, with a high/ low fluctuation of 1,227 points recorded. The HSCEI dropped 118 points, or 1.6%, to close at 7,365. The HSTECH sagged 55 points or 1.2%, closing at 4,640. The total market turnover for the day amounted to $427.014 billion.

Building materials and heavy machinery stocks tumbled. ANGANG STEEL (00347.HK)  +0.040 (+2.759%)    Short selling $749.34K; Ratio 7.445%   , CNBM (03323.HK)  0.000 (0.000%)    Short selling $9.89M; Ratio 11.483%   , MAANSHAN IRON (00323.HK)  -0.010 (-0.806%)    Short selling $2.06M; Ratio 19.223%   , ZOOMLION (01157.HK)  -0.010 (-0.190%)    Short selling $16.72M; Ratio 57.838%   , and BBMG (02009.HK)  -0.010 (-1.205%)    Short selling $750.70K; Ratio 8.082%   descended 8-11%. Railway stocks CHINA COMM CONS (01800.HK)  +0.084 (+1.675%)    Short selling $2.78M; Ratio 4.229%   , CHINA RAIL CONS (01186.HK)  +0.110 (+2.022%)    Short selling $1.35M; Ratio 2.452%   , TIMES ELECTRIC (03898.HK)  +0.200 (+0.722%)    Short selling $1.60M; Ratio 1.745%   , CHINA CRSC (03969.HK)  +0.040 (+1.282%)    Short selling $990.42K; Ratio 5.387%   , CRRC (01766.HK)  +0.080 (+1.724%)    Short selling $1.13M; Ratio 1.871%   , and CHINA RAILWAY (00390.HK)  +0.040 (+1.053%)    Short selling $11.23M; Ratio 17.578%   slid 5.5-6.7%.

Related NewsMEITUAN-W 3Q Non-IFRS Adj. NP Up 124% YoY to RMB12.829B, In Line
In the new energy sector, XINYI SOLAR (00968.HK)  +0.010 (+0.287%)    Short selling $62.62M; Ratio 23.343%   and XINYI GLASS (00868.HK)  +0.090 (+1.096%)    Short selling $19.55M; Ratio 20.751%   dived over 5%. GOLDWIND (02208.HK)  -0.160 (-2.051%)    Short selling $1.50M; Ratio 3.471%   tumbled 6.4%. GCL TECH (03800.HK)  -0.020 (-1.351%)    Short selling $86.42M; Ratio 21.973%   , XINTE ENERGY (01799.HK)  +0.090 (+1.064%)    Short selling $1.73M; Ratio 8.418%   , and FLAT GLASS (06865.HK)  -0.340 (-2.405%)    Short selling $5.08M; Ratio 5.273%   plunged 8-11%. Utility stock GUANGDONG INV (00270.HK)  +0.090 (+1.840%)    Short selling $1.67M; Ratio 3.961%   plummeted 7.7%. Lithium stocks GANFENGLITHIUM (01772.HK)  -0.150 (-0.594%)    Short selling $17.09M; Ratio 18.391%   and TIANQI LITHIUM (09696.HK)  +0.300 (+1.107%)    Short selling $854.99K; Ratio 4.660%   sank over 7%.

As mainland China's stock markets retreated, brokers CICC (03908.HK)  +0.220 (+1.594%)    Short selling $51.71M; Ratio 18.252%   , CSC (06066.HK)  -0.040 (-0.377%)    Short selling $10.92M; Ratio 11.976%   , GF SEC (01776.HK)  -0.020 (-0.183%)    Short selling $2.22M; Ratio 4.828%   , HTSC (06886.HK)  +0.040 (+0.293%)    Short selling $11.23M; Ratio 11.888%   , and CGS (06881.HK)  +0.090 (+1.262%)    Short selling $24.12M; Ratio 10.924%   cascaded 9-13%. Chinese insurers PING AN (02318.HK)  +0.850 (+1.876%)    Short selling $226.45M; Ratio 19.230%   and PICC GROUP (01339.HK)  +0.070 (+1.887%)    Short selling $7.91M; Ratio 5.964%   shed 4% and 4.2%. PICC P&C (02328.HK)  +0.340 (+2.872%)    Short selling $33.49M; Ratio 10.126%   and ZA ONLINE (06060.HK)  +0.020 (+0.159%)    Short selling $8.50M; Ratio 17.291%   descended over 5%.

Chinese developers ebbed. YUEXIU PROPERTY (00123.HK)  +0.070 (+1.228%)    Short selling $10.42M; Ratio 25.556%   , SEAZEN (01030.HK)  +0.030 (+1.500%)    Short selling $4.14M; Ratio 10.249%   , and SINO-OCEAN GP (03377.HK)  -0.010 (-3.279%)   slumped over 5%. CHINA JINMAO (00817.HK)  +0.010 (+0.901%)    Short selling $4.50M; Ratio 18.377%   and CHINA VANKE (02202.HK)  +0.030 (+0.458%)    Short selling $37.22M; Ratio 17.568%   waned 7.6% and 8.5%.

Related NewsCCBI Adds MEITUAN-W (03690.HK) TP to $200; 3Q24 Results Beat Broadly
Pharma stocks also saw notable declines. WUXI BIO (02269.HK)  +1.220 (+7.871%)    Short selling $242.78M; Ratio 15.477%   , BAIYUNSHAN PH (00874.HK)  -0.180 (-0.983%)    Short selling $509.08K; Ratio 2.918%   , FOSUN PHARMA (02196.HK)  +0.040 (+0.278%)    Short selling $1.52M; Ratio 5.184%   , GENSCRIPT BIO (01548.HK)  +0.280 (+2.617%)    Short selling $8.78M; Ratio 9.405%   , and WEIGAO GROUP (01066.HK)  +0.190 (+4.069%)    Short selling $14.85M; Ratio 27.788%   dropped 5-6.8%. CANSINOBIO (06185.HK)  0.000 (0.000%)    Short selling $732.88K; Ratio 2.664%   and PHARMARON (03759.HK)  +0.500 (+3.687%)    Short selling $6.71M; Ratio 6.268%   lost 8.1% and 11.5%.

Regarding techs, MEITUAN-W (03690.HK)  -1.900 (-1.135%)    Short selling $1.07B; Ratio 15.676%   rallied 2.3% against the trend. TENCENT (00700.HK)  +4.600 (+1.151%)    Short selling $1.03B; Ratio 13.966%   , JD-SW (09618.HK)  -2.000 (-1.358%)    Short selling $228.73M; Ratio 15.469%   , BIDU-SW (09888.HK)  +1.250 (+1.508%)    Short selling $85.35M; Ratio 16.472%   , and BILIBILI-W (09626.HK)  +2.400 (+1.552%)    Short selling $169.55M; Ratio 24.631%   edged down 0.8-1%. BABA-W (09988.HK)  +0.450 (+0.536%)    Short selling $510.45M; Ratio 13.512%   , XIAOMI-W (01810.HK)  +0.550 (+1.926%)    Short selling $769.64M; Ratio 15.651%   , and NTES-S (09999.HK)  +1.000 (+0.724%)    Short selling $183.84M; Ratio 22.846%   slipped 1.5-1.8%. KUAISHOU-W (01024.HK)  +0.050 (+0.103%)    Short selling $155.61M; Ratio 10.320%   faded 3.4%. In addition, EAST BUY (01797.HK)  +0.020 (+0.136%)    Short selling $14.26M; Ratio 14.678%   , ALI HEALTH (00241.HK)  +0.010 (+0.272%)    Short selling $45.55M; Ratio 29.962%   , and WEIMOB INC (02013.HK)  -0.010 (-0.633%)    Short selling $6.25M; Ratio 15.673%   dived 7.1-9.6%, while MEITU (01357.HK)  -0.130 (-4.467%)    Short selling $14.32M; Ratio 6.058%   plunged 10.9%.

Car stocks GWMOTOR (02333.HK)  +0.680 (+5.271%)    Short selling $129.93M; Ratio 21.830%   and LEAPMOTOR (09863.HK)  -0.550 (-1.916%)    Short selling $11.16M; Ratio 10.743%   waned 4.1% and 5.1%, while XPENG-W (09868.HK)  -0.050 (-0.102%)    Short selling $402.88M; Ratio 46.158%   hiked 4%. As for the three major Chinese oils, CNOOC (00883.HK)  +0.340 (+1.993%)    Short selling $55.85M; Ratio 3.683%   plummeted over 5%, while SINOPEC CORP (00386.HK)  +0.060 (+1.442%)    Short selling $52.01M; Ratio 12.986%   and PETROCHINA (00857.HK)  +0.160 (+2.925%)    Short selling $65.74M; Ratio 9.842%   dropped over 3%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-12-03 16:25.)

Related NewsJPM Downgrades BIDU-SW (09888.HK) to Neutral, Axes TP to $85

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