HSI Tumbles 390 pts; HSBC Holdings Softens after Results
On the first trading day of May, Hong Kong bourses were weakened. Hang Seng Index slightly opened down 5 pts to 21,061 and saw a widened loss afterwards, breaching below 20-day MA (20,995). The benchmark index finished the day trading down by 390 pts or 1.9% to 20,676. Hang Seng China Enterprises Index tumbled 190 pts or 2.1% to 8,748. Market turnover amounted to $77.518 billion.
Blue chip financials broadly trended down. HSBC HOLDINGS (00005.HK) -0.300 (-0.579%)
Short selling $231.29M; Ratio 11.848% delivered better than expected first quarter results and once leaped 2.5% after midday. However, dragged by increasing sell-offs, the bank faded 0.6% to $51.5 at close. HANG SENG BANK (00011.HK) -2.000 (-1.418%) Short selling $73.94M; Ratio 34.790% sank 1.4%. AIA (01299.HK) -1.250 (-2.677%) Short selling $252.44M; Ratio 19.289% plummeted 2.7%.
CHINA MOBILE (00941.HK) -1.050 (-1.180%) Short selling $110.26M; Ratio 8.352% retreated 1.2%. TENCENT (00700.HK) -3.600 (-2.266%) Short selling $267.05M; Ratio 11.125% fell sharply by 2.3%.
LENOVO GROUP (00992.HK) -0.280 (-4.538%) Short selling $176.45M; Ratio 40.402% nosedived 4.5%. HKEX (00388.HK) -5.930 (-3.066%) Short selling $746.67M; Ratio 42.857% slid 3% to close at $187.5. In contrast, blue chip utilities POWER ASSETS (00006.HK) +0.850 (+1.149%) Short selling $7.90M; Ratio 1.839% and CLP HOLDINGS (00002.HK) +0.950 (+1.324%) Short selling $70.64M; Ratio 18.314% bucked the market and rose 1.1% and 1.3%, both of which were best performing blue chips.
Gold prices once breached above US$1,300. CHINAGOLDINTL (02099.HK) +1.140 (+8.213%) jumped 8.2% amid the weak market. SPDR GOLD TRUST (02840.HK) +18.500 (+1.954%) and ZIJIN MINING (02899.HK) +0.030 (+1.167%) Short selling $31.39M; Ratio 19.574% added 2% and 1.2%. LINGBAO GOLD (03330.HK) +0.050 (+3.165%) rallied 3.2%.
On the first trading day of May, Hong Kong bourses were weakened. Hang Seng Index slightly opened down 5 pts to 21,061 and saw a widened loss afterwards, breaching below 20-day MA (20,995). The benchmark index finished the day trading down by 390 pts or 1.9% to 20,676. Hang Seng China Enterprises Index tumbled 190 pts or 2.1% to 8,748. Market turnover amounted to $77.518 billion.
Blue chip financials broadly trended down. HSBC HOLDINGS (00005.HK) -0.300 (-0.579%)
Short selling $231.29M; Ratio 11.848% delivered better than expected first quarter results and once leaped 2.5% after midday. However, dragged by increasing sell-offs, the bank faded 0.6% to $51.5 at close. HANG SENG BANK (00011.HK) -2.000 (-1.418%) Short selling $73.94M; Ratio 34.790% sank 1.4%. AIA (01299.HK) -1.250 (-2.677%) Short selling $252.44M; Ratio 19.289% plummeted 2.7%. CHINA MOBILE (00941.HK) -1.050 (-1.180%)
Short selling $110.26M; Ratio 8.352% retreated 1.2%. TENCENT (00700.HK) -3.600 (-2.266%) Short selling $267.05M; Ratio 11.125% fell sharply by 2.3%. LENOVO GROUP (00992.HK) -0.280 (-4.538%)
Short selling $176.45M; Ratio 40.402% nosedived 4.5%. HKEX (00388.HK) -5.930 (-3.066%) Short selling $746.67M; Ratio 42.857% slid 3% to close at $187.5. In contrast, blue chip utilities POWER ASSETS (00006.HK) +0.850 (+1.149%) Short selling $7.90M; Ratio 1.839% and CLP HOLDINGS (00002.HK) +0.950 (+1.324%) Short selling $70.64M; Ratio 18.314% bucked the market and rose 1.1% and 1.3%, both of which were best performing blue chips.Gold prices once breached above US$1,300. CHINAGOLDINTL (02099.HK) +1.140 (+8.213%)
jumped 8.2% amid the weak market. SPDR GOLD TRUST (02840.HK) +18.500 (+1.954%) and ZIJIN MINING (02899.HK) +0.030 (+1.167%) Short selling $31.39M; Ratio 19.574% added 2% and 1.2%. LINGBAO GOLD (03330.HK) +0.050 (+3.165%) rallied 3.2%. 
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