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HSI Falls 196 pts; Belle Int'l Surges 9%
Hong Kong bourses sustained the weakness after breaching below the level of 20,000 pts yesterday (12 May). Hang Seng Index opened lower 71 pts and once sank below the level of 19,600 in the afternoon to the bottom of 19,594, diving 320 pts. The benchmark index eventually fell 196 pts or 1% to 19,719. Hang Seng China Enterprises Index retreated 112 pts or 1.3% to 8,301. Market turnover amounted to $64.127 billion.

Heavyweights were broadly softened apart from TENCENT (00700.HK)  +0.900 (+0.584%)    Short selling $268.38M; Ratio 9.556%   . Shares in TENCENT gained $0.9 or 0.6% to conclude at $155.1. AIA (01299.HK)  -0.200 (-0.463%)    Short selling $239.01M; Ratio 22.215%   lost 0.5%. HSBC HOLDINGS (00005.HK)  -0.500 (-1.046%)    Short selling $185.82M; Ratio 13.683%   , CCB (00939.HK)  -0.060 (-1.282%)    Short selling $349.43M; Ratio 29.841%   , ICBC (01398.HK)  -0.050 (-1.276%)    Short selling $199.22M; Ratio 16.883%   and PING AN (02318.HK)  -0.500 (-1.466%)    Short selling $291.32M; Ratio 18.245%   receded over 1%. CHINA MOBILE (00941.HK)  -1.750 (-2.042%)    Short selling $378.54M; Ratio 25.897%   drifted lower over 2%.

However, part of the domestic demand stocks fared well. BELLE INT'L (01880.HK)  +0.400 (+9.368%)    Short selling $32.47M; Ratio 16.308%   rocketed 9.3% and became the best performer of blue chip. TINGYI (00322.HK)  +0.250 (+3.041%)    Short selling $28.31M; Ratio 33.972%   rallied over 3%. HENGAN INT'L (01044.HK)  +0.900 (+1.363%)    Short selling $81.60M; Ratio 40.321%   and MENGNIU DAIRY (02319.HK)  +0.060 (+0.490%)    Short selling $44.61M; Ratio 45.605%   ticked up 1.3% and 0.5% at close.

The poor quarterly results for U.S retailers dragged LI & FUNG (00494.HK)  -0.160 (-3.712%)    Short selling $38.79M; Ratio 27.236%   down. The stock continued 3.7% lower today to finish at $4.15, becoming the worst performing blue chip.

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