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HSI Falls 31 pts; Oil Stocks Soften

The market is taking a wait-and-see attitude to the U.S. Fed meeting results. The central parity of RMB retreated 93 pts today. Hong Kong market receded after early gains. Hang Seng Index peaked at 20,383 but retreated before the midday. It hit the bottom at 20,168 and last traded at 20,257, down 31 pts or 0.15%. Hang Seng China Enterprises Index dropped 34 pts or 0.4% to 8,571. The market turnover amounted to $58.66 billion.

Two Sessions came to a close. The Chinese Premier Li Keqiang said the central government would strive to launch Shenzhen-Hong Kong Stock Connect this year. Shanghai and Shenzhen markets traded mixed. HKEX (00388.HK)  -0.500 (-0.287%)    Short selling $98.60M; Ratio 21.383%   edged down 0.3%. HSBC HOLDINGS (00005.HK)  -0.350 (-0.697%)    Short selling $97.11M; Ratio 14.500%   and AIA (01299.HK)  -0.250 (-0.588%)    Short selling $197.14M; Ratio 23.083%   slid 0.7% and 0.6%. The former sank below the level of $50. STANCHART (02888.HK)  -1.950 (-3.697%)    Short selling $17.57M; Ratio 12.681%   dived 3.7%.

Chinese banks held steady. CCB (00939.HK)  +0.020 (+0.414%)    Short selling $186.09M; Ratio 21.912%   added 0.4%. PING AN (02318.HK)  +0.300 (+0.857%)    Short selling $170.48M; Ratio 11.902%   climbed 0.9% to $35.3. CHINA LIFE (02628.HK)  -0.100 (-0.543%)    Short selling $101.18M; Ratio 13.029%   lost 0.5%. Oil stocks softened. CNOOC (00883.HK)  -0.120 (-1.361%)    Short selling $168.59M; Ratio 20.347%   declined 1.4%. PETROCHINA (00857.HK)  -0.120 (-2.260%)    Short selling $60.98M; Ratio 13.538%   dipped 2.3%.

The market expected the United States would only hike rate at the end of 2016. The developers and high-dividend stocks headed north amid market weakness. CHINA MOBILE (00941.HK)  +0.850 (+0.994%)    Short selling $277.88M; Ratio 34.773%   gained 1%. LINK REIT (00823.HK)  +0.600 (+1.338%)    Short selling $26.23M; Ratio 11.375%   rose 1.4%. MTR CORPORATION (00066.HK)  +0.700 (+1.859%)    Short selling $46.97M; Ratio 30.587%   soared 1.9%. HKELECTRIC-SS (02638.HK)  +0.140 (+2.154%)    Short selling $4.41M; Ratio 6.837%   surged by 2.1% to $6.64 today after yesterday's results announcement. POWER ASSETS (00006.HK)  -0.950 (-1.243%)    Short selling $25.37M; Ratio 7.054%   faded 1.2% on worse-than-expected results.

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