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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%. 

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