-

HSI Plunges 565 pts; HSCEI Tumbles 3.9%

Hang Seng Index headed south today and sank below the level of 20,000 pts. The benchmark index slumped 565 pts or 2.8% to end the day trading at 19,888. Hang Seng China Enterprises Index hit the low at 8,486 to nearly 4-year low at the later session, before finishing the day trading lower by 340 pts or 3.9% at 8,505. The market turnover amounted to $87.478 billion.

Heavyweight HSBC HOLDINGS (00005.HK)  -1.050 (-1.829%)    Short selling $543.33M; Ratio 25.733%   continued lower 1.8% to close at $56.35. Based on the quotation of Bank of China (Hong Kong), overnight CNY Hong Kong Interbank Offered Rate (HIBOR) once surged to 22% at 3:45 p.m.. BOC HONG KONG (02388.HK)  -0.700 (-3.097%)    Short selling $44.78M; Ratio 16.791%   's share price dipped 3%. BANK OF E ASIA (00023.HK)  -0.850 (-3.327%)    Short selling $35.93M; Ratio 64.550%   dived 3.3%. CHINA MOBILE (00941.HK)  -1.450 (-1.767%)    Short selling $222.15M; Ratio 10.701%   sagged 1.8% at $80.6. TENCENT (00700.HK)  -4.600 (-3.226%)    Short selling $637.32M; Ratio 20.505%   fell sharply 3.2% to $138.

Hong Kong real estate developers CK PROPERTY (01113.HK)  -1.750 (-3.627%)    Short selling $71.92M; Ratio 20.678%   , HENDERSON LAND (00012.HK)  -1.500 (-3.293%)    Short selling $82.72M; Ratio 55.388%   , SHK PPT (00016.HK)  -1.500 (-1.638%)    Short selling $263.91M; Ratio 43.509%   and SINO LAND (00083.HK)  -0.340 (-3.189%)    Short selling $56.82M; Ratio 42.732%   recorded a loss of 3.6%, 3.3%, 1.6% and 3.2% respectively. China property stocks CHINA VANKE (02202.HK)  -2.100 (-10.649%)    Short selling $12.20M; Ratio 1.864%   collapsed 10.6% and became the worst performing HSCEI constituent. Citigroup downgraded its rating from Buy to Neutral last Friday, saying that the valuation is overly high. CHINA RES LAND (01109.HK)  -1.240 (-6.225%)    Short selling $31.03M; Ratio 7.448%   and CHINA OVERSEAS (00688.HK)  -1.150 (-4.842%)    Short selling $251.89M; Ratio 24.813%   tumbled 6.2% and 4.8%.

Shanghai Composite Index posted a sharp decline of more than 5%, sending Chinese financials tumbling. CHINA LIFE (02628.HK)  -1.150 (-5.100%)    Short selling $282.23M; Ratio 16.325%   decreased significantly by 5.1% to over 1-year low. PING AN (02318.HK)  -1.650 (-4.342%)    Short selling $462.30M; Ratio 23.977%   and PICC P&C (02328.HK)  -0.980 (-6.712%)    Short selling $35.06M; Ratio 7.795%   nosedived 4.3% and 6.7%. BANK OF CHINA (03988.HK)  -0.100 (-3.106%)    Short selling $131.07M; Ratio 7.866%   , CCB (00939.HK)  -0.100 (-1.992%)    Short selling $133.85M; Ratio 8.504%   and ICBC (01398.HK)  -0.130 (-2.989%)    Short selling $79.72M; Ratio 6.699%   lost 3.1%, 2% and 3%.

Comments

Post a Comment

Popular posts from this blog

-
CLSA lowers Beijing Ent Water (00371) to HK$6   CLSA cut its target price for Beijing Enterprises Water (BEW)(00371) by 8% to HK$6, and reiterated its "buy" rating.   The research house said BEW's share price has dropped 14% in the last two trading days. First, the 2017 earnings results are below expectations. Second, management is guiding for 20-25% net profit growth for 2018, versus 30% in the past few years. Management now has a cautious approach to water PPP (public-private partnership) projects, which is not  necessarily bad.   CLSA cut its 2018-19 earnings forecasts by...
Read more
-
Image
Business receipts in value terms of most of the major service industries showed increases of different magnitudes in the second quarter of 2014 when compared with the second quarter of 2013, according to the provisional figures of business receipts indices released today (September 11) by the Census and Statistics Department (C&SD). Comparing the second quarter of 2014 with the second quarter of 2013, double-digit increases were recorded in business receipts of the real estate (+20.7%); insurance (+18.9%); courier (+11.8%); administrative and support services (+10.2%); and warehousing and storage (+10.0%) industries. On the other hand, the retail industry recorded a more noticeable decrease (-7.0%) in business receipts during the same period. Analysed by service domain, business receipts of the tourism, convention and exhibition services domain decreased by 7.5%, whereas those of the computer and information technology services domain increased by 1.1% during the...
Read more
-
Image
HSBC HOLDINGS Further Expands Mainland Biz; Sets up 24 China Desks Stuart Gulliver, chief executive officer of HSBC HOLDINGS (00005.HK)    -1.550 (-1.855%)       Short selling $345.90M; Ratio 13.050%      , said in 2017 results announcement that the Group’s business mix is more oriented towards Asia, improving its ability to channel the economic and social changes taking place within the world’s fastest growing region. The bank continued to expand its presence in mainland China with the launch of new retail banking products and increased lending in the Pearl River Delta. HSBC now have a total of 24 China desks aimed at supporting Chinese businesses with global outbound ambitions, 20 of which are along the ‘Belt and Road’ routes. 
Read more