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HSI Falls 237 pts; China Mobile Dives 2% before Results

 Hong Kong bourses saw a sharp correction this morning. Hang Seng Index headed south after opening higher 16 pts and posted a widened loss before morning close to the trough of 21,182 pts. The benchmark index receded 237 pts or 1.1% to end at 21,199. Hang Seng China Enterprises Index sank 142 pts or 1.5% to 9,102. Half-day market turnover amounted to $37.75 billion.

CHINA MOBILE (00941.HK)  -1.300 (-1.452%)    Short selling $83.93M; Ratio 10.707%   , ahead of quarterly results announcement today, faded 2%. CHINA UNICOM (00762.HK)  -0.400 (-4.107%)    Short selling $54.93M; Ratio 13.482%   dived 4.4% to $9.31, after the company issued a profit warning and expected to record 85% yearly decline in first quarter earnings. The stock was the worst performer of blue chip. CHINA TELECOM (00728.HK)  -0.120 (-2.878%)    Short selling $12.85M; Ratio 8.273%   also plunged 4.8%, being the biggest faller of HSCEI constituent. In addition, HKBN (01310.HK)  -0.010 (-0.105%)    Short selling $47.95K; Ratio 0.354%   is scheduled to unveil its interim results today. Its shares gave up 0.8% ahead of results.

HSBC HOLDINGS (00005.HK)  -0.500 (-0.985%)    Short selling $9.29M; Ratio 1.851%   retreated 0.9% this morning to $50.3. The bank is investigating for stock repurchase and may gradually increase dividend payout. AIA (01299.HK)  -0.300 (-0.665%)    Short selling $57.41M; Ratio 18.996%   , which is set to release its quarterly results this week, lost 0.6%. STANCHART (02888.HK)  +0.200 (+0.337%)    Short selling $10.01M; Ratio 6.416%   slid 0.2%. TENCENT (00700.HK)  -3.300 (-1.992%)    Short selling $145.39M; Ratio 13.868%   sagged 1.8%. 

Gas stocks were under significant pressure this morning. CHINA GAS HOLD (00384.HK)  -1.300 (-10.317%)    Short selling $25.53M; Ratio 11.492%   , ENN ENERGY (02688.HK)  -5.200 (-11.029%)    Short selling $43.47M; Ratio 15.834%   and CHINA RES GAS (01193.HK)  -1.900 (-8.034%)    Short selling $39.06M; Ratio 15.562%   fell sharply by 9.7%, 10.5% and 7.2%. 

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