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HSI Falls 104 pts; Banks Soften

 Hang Seng Index softened after opening higher 42 pts or 0.2% to 19,506. The decline widened to 135 pts at most and the index ended the morning session at 19,359, down 104 pts or 0.5%. Hang Seng China Enterprises Index dropped 77 pts or 0.9% to 8,144. The market turnover amounted to $33.95 billion.

Banks were generally under pressure. HSBC HOLDINGS (00005.HK)  0.000 (0.000%)    Short selling $195.67M; Ratio 28.442%   weakened after its results announcement. It lost 0.4% to $48.95. HANG SENG BANK (00011.HK)  -3.600 (-2.677%)    Short selling $181.64M; Ratio 54.893%   's target price was trimmed by several brokers after it released its annual results. The stock gave up 2.7%. BANK OF E ASIA (00023.HK)  -0.500 (-1.957%)    Short selling $20.39M; Ratio 38.870%   faded 2.9%. Yet, STANCHART (02888.HK)  +0.850 (+1.812%)    Short selling $3.57M; Ratio 3.971%   , which will release its results today, picked up 1.1%.

TINGYI (00322.HK)  -0.540 (-6.323%)    Short selling $115.47M; Ratio 38.173%   warned of earning 35%-40% less in 2015. The stock once recorded a widened decrease of 10% and finished the morning session by declining 6.2%. Other domestic demand stocks WANT WANT CHINA (00151.HK)  -0.280 (-5.109%)    Short selling $10.31M; Ratio 19.172%   and BELLE INT'L (01880.HK)  -0.080 (-1.473%)    Short selling $1.66M; Ratio 9.340%   slid 4.7% and 0.9%.

The market is looking forward to reforms on supply-side to be announced on "Lianghui". CHALCO (02600.HK)  +0.130 (+5.058%)    Short selling $25.36M; Ratio 13.371%   leaped 5.1% and ANGANG STEEL (00347.HK)  +0.220 (+7.143%)    Short selling $2.65M; Ratio 5.510%   jumped 5.8%.

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