HSI Rises 210 pts; Oil Stocks Outperform Market

Hang Seng Index saw gains widen and recouped the level of 22,000 after opening higher 39 pts this morning. It once hit the peak at 22,103 after midday before closing up 210 pts or 1% to 22,040 for day trading session. Hang Seng China Enterprises Index advanced 151 pts or 1.6% to 9,882. The market turnover amounted to $50.75 billion.

Heavyweight HSBC HOLDINGS (00005.HK)  +0.450 (+0.736%)    Short selling $33.23M; Ratio 6.302%   and TENCENT (00700.HK)  +1.400 (+0.928%)    Short selling $205.06M; Ratio 18.182%   rose 0.7% and 0.9% respectively. CHINA MOBILE (00941.HK)  -0.050 (-0.057%)    Short selling $42.79M; Ratio 5.881%   sagged 0.1%. HKEX (00388.HK)  +2.800 (+1.400%)    Short selling $61.55M; Ratio 7.916%   ticked up 1.4%. Macau gaming stocks SANDS CHINA LTD (01928.HK)  +0.650 (+2.534%)    Short selling $13.09M; Ratio 3.162%   and GALAXY ENT (00027.HK)  +0.300 (+1.235%)    Short selling $49.14M; Ratio 14.290%  jumped 2.5% and 1.2% at close.

Oil stocks outperformed the market due to the recovery of New York oil futures. CNOOC (00883.HK)  +0.310 (+3.949%)    Short selling $70.98M; Ratio 19.742%   and PETROCHINA (00857.HK)  +0.170 (+3.340%)    Short selling $29.59M; Ratio 6.429%   rallied 3.9% and 3.3%. SINOPEC CORP (00386.HK)  +0.210 (+4.536%)    Short selling $32.75M; Ratio 6.950%   escalated 4.5% and became the best performing blue chipper. 

Chinese insurers sustained the uptrend. CHINA LIFE (02628.HK)  +0.400 (+1.584%)    Short selling $54.45M; Ratio 9.422%   , PING AN (02318.HK)  +0.500 (+1.149%)    Short selling $111.17M; Ratio 13.580%   and PICC P&C (02328.HK)  +0.220 (+1.343%)    Short selling $29.10M; Ratio 12.238%   delivered a gain of 1.1% to 1.5%. CHINA TAIPING (00966.HK)  +0.900 (+3.774%)    Short selling $7.18M; Ratio 5.231%   rocketed 3.8% after announcing that it established a life insurance company in Hong Kong.

In addition, GUOTAI JUNAN I (01788.HK)  +0.210 (+8.046%)    Short selling $2.51M; Ratio 1.273%   surged 8% after reporting that Yim Fung will resume his duties as the Chairman and the Chief Executive Officer of the company. Its peers also fared well. SHENWANHONGYUAN (00218.HK)  +0.160 (+4.030%)    Short selling $448.00K; Ratio 4.181%   soared 4%. CITIC SEC (06030.HK)  +0.460 (+2.511%)    Short selling $80.19M; Ratio 13.193%   .

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