HSI Falls 87 pts; CHINA LIFE Dives 4%


Hang Seng Index opened up 87 pts this morning but it receded when China announced its official manufacturing PMI for January which missed the market expectations. It hit the low by declining 238 pts and last stood at 19,595, down 87 pts or 0.4%. Hang Seng China Enterprises Index lost 96 pts or 1.2% to 8,144. The market turnover amounted to $69.5 billion.

Some media coverage said HSBC HOLDINGS (00005.HK)  +0.150 (+0.275%)    Short selling $243.91M; Ratio 21.393%   planned to freeze pay and hiring this year. The bank added 0.3% to $54.65. TENCENT (00700.HK)  +2.100 (+1.449%)    Short selling $702.14M; Ratio 23.503%   and CKH HOLDINGS (00001.HK)  +1.200 (+1.245%)    Short selling $255.07M; Ratio 32.427%   rose 1.4% and 1.2%. CHINA MOBILE (00941.HK)  -0.200 (-0.233%)    Short selling $451.56M; Ratio 35.356%   lost 0.2%. AIA (01299.HK)  -0.700 (-1.634%)    Short selling $288.54M; Ratio 22.794%   gave up 1.6%.

Chinese financials weakened. BANKCOMM (03328.HK)  -0.120 (-2.548%)    Short selling $19.42M; Ratio 14.268%   plunged 2.5%. CCB (00939.HK)  -0.020 (-0.423%)    Short selling $142.04M; Ratio 15.278%   and ICBC (01398.HK)  -0.030 (-0.744%)    Short selling $104.44M; Ratio 9.266%   faded 0.4% and 0.7%. CHINA LIFE (02628.HK)  -0.780 (-4.153%)    Short selling $142.69M; Ratio 11.863%   dived 4.2%, being the worst performing blue chip. The insurer expected its full-year net profit to surge by around 5%-10%. Citigroup commented CHINA LIFE's results in the fourth quarter were disappointing. PING AN (02318.HK)  -0.750 (-2.146%)    Short selling $175.08M; Ratio 13.122%   also decreased 2.1%. New York oil futures softened in Asian session. CNOOC (00883.HK)  -0.250 (-3.173%)    Short selling $245.15M; Ratio 30.585%   and PETROCHINA (00857.HK)  -0.140 (-2.947%)    Short selling $131.78M; Ratio 26.142%   tumbled 3.2% and 2.9%.

Blue chip domestic demand stocks were in demand. MENGNIU DAIRY (02319.HK)  +0.420 (+3.911%)    Short selling $39.93M; Ratio 27.521%   jumped 3.9%, which was the best performing blue chip. WANT WANT CHINA (00151.HK)  +0.130 (+2.559%)    Short selling $58.74M; Ratio 62.818%   and CHINA RES BEER (00291.HK)  +0.300 (+2.427%)    Short selling $20.94M; Ratio 30.908%   leaped 2.6% and 2.4%. HENGAN INT'L (01044.HK)  +0.800 (+1.156%)    Short selling $119.28M; Ratio 49.642%   and TINGYI (00322.HK)  +0.130 (+1.477%)    Short selling $45.03M; Ratio 58.404%   increased 1.2% and 1.5%. Some Chinese automakers were under hefty selling pressure. BAIC MOTOR (01958.HK)  -0.430 (-7.762%)    Short selling $1.72M; Ratio 8.786%   , GEELY AUTO (00175.HK)  -0.250 (-7.576%)    Short selling $32.75M; Ratio 9.101%   and BRILLIANCE CHI (01114.HK)  -0.550 (-7.402%)    Short selling $29.51M; Ratio 10.773%   plummeted over 7%. GREATWALL MOTOR (02333.HK)  -0.400 (-6.768%)    Short selling $83.82M; Ratio 12.890%  also collapsed 6.8%.

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