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Hang Seng Index, after a five-day loss, opened higher 170 pts or 0.8% this morning and once added 193 pts to the peak at 20,303. However, the gain was narrowed as a results of the decline in Mainland stock markets. The benchmark index eventually rose 99 pts or 0.5% to 20,209 at midday. Hang Seng China Enterprises Index advanced 6 pts or 0.07% to 8,477. Half-day turnover amounted to $30.112 billion.



HSI Climbs 99 pts; Developers Outperform
The market was supported by HSBC HOLDINGS (00005.HK)  +0.050 (+0.103%)    Short selling $30.06M; Ratio 6.228%   , with a rise of 1% to $48.85 at morning's close. CHINA MOBILE (00941.HK)  -0.250 (-0.291%)    Short selling $38.24M; Ratio 11.725%   and TENCENT (00700.HK)  +1.200 (+0.780%)    Short selling $64.20M; Ratio 8.738%   inched up 0.1% and 0.6%. LENOVO GROUP (00992.HK)  +0.060 (+1.064%)    Short selling $14.00M; Ratio 31.331%   lifted 1.4%. In addition, STANCHART (02888.HK)  -0.600 (-1.070%)    Short selling $9.25M; Ratio 16.247%   and BANK OF E ASIA (00023.HK)  +0.800 (+2.909%)    Short selling $3.86M; Ratio 43.012%   ticked up 0.9% and 1.3%. 

Hong Kong real estate developers outperformed the market, with WHARF HOLDINGS (00004.HK)  +1.250 (+3.083%)    Short selling $43.02M; Ratio 42.760%  , LINK REIT (00823.HK)  +0.950 (+2.061%)    Short selling $1.71M; Ratio 3.208%   , CK PROPERTY (01113.HK)  +0.100 (+0.206%)    Short selling $9.75M; Ratio 16.322%   , SHK PPT (00016.HK)  +1.000 (+1.092%)    Short selling $18.51M; Ratio 24.002%   , HENDERSON LAND (00012.HK)  +0.550 (+1.192%)    Short selling $15.30M; Ratio 34.336%   and SINO LAND (00083.HK)  +0.040 (+0.345%)    Short selling $1.50M; Ratio 16.800%   climbed 0.9-3.6%. Of all developers, WHARF HOLDINGS was the best performer of blue chip. Morgan Stanley said that WHARF HOLDINGS's retail sales at Harbour City and Times Square were slowed down but it is likely to see gradual improvement in the future.

Macau gaming stocks broadly fared well this morning. GALAXY ENT (00027.HK)  +0.200 (+0.818%)    Short selling $16.86M; Ratio 14.674%   and SANDS CHINA LTD (01928.HK)  +0.250 (+0.928%)    Short selling $23.28M; Ratio 23.476%   rose 1.8% and 1.3%. Morgan Stanley said that Macau's gaming first quarter EBITDA missed estimates with fair current valuation. But for long-term investors, they might wait for a better buying time.

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