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HSI Drops 122 pts; AIA Continues Higher
As dragged by Mainland bourses, Hang Seng Index retreated 146 pts at most to the trough of 21,320 after opening down 58 pts. The benchmark index lost 122 pts or 0.6% to finish the morning session at 21,344. Hang Seng China Enterprises Index faded 110 pts or 1.2% to 9,010. Market turnover amounted to $30.902 billion.

AIA (01299.HK)  +0.500 (+1.068%)    Short selling $536.24M; Ratio 35.771%   continued higher 1.6% this morning to $47.55, being the best performer of blue chip. The insurer recorded a 44% increase in first quarter value of new business (VONB), hitting a new high. HSBC HOLDINGS (00005.HK)  -0.700 (-1.342%)    Short selling $38.06M; Ratio 3.513%   and CHINA MOBILE (00941.HK)  -0.800 (-0.876%)    Short selling $126.37M; Ratio 13.078%   sagged 0.7% and 0.6%. TENCENT (00700.HK)  -2.900 (-1.781%)    Short selling $251.59M; Ratio 14.635%   dipped 1.6% to $160.2. In addition, HKEX (00388.HK)  -4.300 (-2.108%)    Short selling $277.59M; Ratio 16.803%   inched down 0.8% to $202.4.

Chinese financials were broadly softened ahead of first quarter results announcement this week. BANK OF CHINA (03988.HK)  -0.030 (-0.938%)    Short selling $90.52M; Ratio 13.484%   , ICBC (01398.HK)  -0.060 (-1.392%)    Short selling $92.65M; Ratio 12.618%   , CCB (00939.HK)  -0.070 (-1.386%)    Short selling $294.55M; Ratio 27.354%   and BANKCOMM (03328.HK)  -0.060 (-1.186%)    Short selling $14.84M; Ratio 15.693%  saw a decline of 0.6%-1.2%. PING AN (02318.HK)  -0.600 (-1.600%)    Short selling $55.94M; Ratio 6.530%   and CHINA LIFE (02628.HK)  -0.280 (-1.489%)    Short selling $51.38M; Ratio 7.504%   , which are scheduled to unveil their quarterly results this week, sank 1% and 1.4%. CHINA LIFE issued a profit warning earlier, expecting its first quarter net profit to tumble 55% to 60% yearly.

GREATWALL MOTOR (02333.HK)  +0.030 (+0.484%)    Short selling $62.81M; Ratio 18.706%   surged 3.4% even though it earned 5.5% less in the first quarter. Credit Suisse said that the quarterly results beat estimates; however, Goldman Sachs and Morgan Stanley were bearish about GREATWALL MOTOR's prospects. Goldman Sachs even trimmed the target price of the automobile stock. 

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