Nomad Investors

HSI Rises 295 pts; HK Property, Resource Stocks in Demand
The People's Bank of China announced that the central bank will lower the RMB reserve requirement ratio (RRR) for financial institutions by 0.5 percentage points starting from today. Hang Seng Index opened higher 148 pts this morning. China's February Manufacturing PMI retreated to 49%, missing estimates, hitting over three-year low. However, with the anticipation that a basket of control measures will be rolled out, the benchmark index once escalated up to 308 pts to the peak of 19,420 before concluding the day trading higher by 295 pts or 1.6% to 19,407. Hang Seng China Enterprises Index added 151 pts or 1.9% to close at 8,068. Market turnover equaled $66.95 billion.

HSBC HOLDINGS (00005.HK) +0.400 (+0.806%)

Short selling $353.71M; Ratio 30.234%

gained 0.8% and reclaimed the level of $50. CHINA MOBILE (00941.HK) +1.450 (+1.764%)

Short selling $192.29M; Ratio 21.041%

and AIA (01299.HK) +0.600 (+1.511%)

Short selling $307.46M; Ratio 28.092%

bounced back 1.8% and 1.5%. Real estate developers fared well, with SHK PPT (00016.HK) +2.450 (+2.821%)

Short selling $167.30M; Ratio 25.833%

jumped 2.8%. HENDERSON LAND (00012.HK) +1.150 (+2.738%)

Short selling $20.36M; Ratio 13.504%

shot up 2.7%. NEW WORLD DEV (00017.HK) +0.110 (+1.687%)

Short selling $30.05M; Ratio 22.046%

and CK PROPERTY (01113.HK) +1.300 (+3.266%)

Short selling $38.85M; Ratio 4.386%

ticked up 1.7% and 3.3% respectively. China's 100 City Price Index recorded a widened increase in February. CHINA OVERSEAS (00688.HK) +0.700 (+3.030%)

Short selling $163.99M; Ratio 30.623%

and CHINA RES LAND (01109.HK) +0.620 (+3.341%)

Short selling $119.92M; Ratio 29.532%

surged by 3% and 3.3%.

CHINA LIFE (02628.HK) -0.120 (-0.709%)

Short selling $289.83M; Ratio 12.495%

acquired stakes in China Guangfa Bank to 43.68% with RMB23.3 billion. Its shares drifted lower 0.7% to finish the day trading at $16.8, once recording over 7-year low. PING AN (02318.HK) +0.300 (+0.912%)

Short selling $198.36M; Ratio 16.719%

edged up 0.9%. PICC P&C (02328.HK) +0.440 (+3.748%)

Short selling $30.23M; Ratio 9.770%

climbed 3.7%. Chinese banks fared well. ICBC (01398.HK) +0.070 (+1.823%)

Short selling $82.62M; Ratio 11.190%

and CCB (00939.HK) +0.060 (+1.319%)

Short selling $129.92M; Ratio 14.116%

lifted 1.8% and 1.3%.

Resources shares were in demand. ANGANG STEEL (00347.HK) +0.350 (+11.041%)

Short selling $5.89M; Ratio 9.480%

and CHINA ZHONGWANG (01333.HK) +0.330 (+9.538%)

Short selling $101.50K; Ratio 0.354%

rocketed 11% and 9.5%. ZHAOJIN MINING (01818.HK) +0.490 (+8.020%)