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HSI Dives 534 pts; Bank, Oil Stocks Under Selling Pressure
Hang Seng Index opened with downside gap of 395 pts this morning, tumbling up to 563 pts to hit the trough of 20,479. At midday, Hang Seng Index collapsed 534 pts or 2.5% at 20,508. Hang Seng China Enterprises Index slumped 220 pts or 2.5% at 8,611. Market turnover amounted to $35.12 billion at midday.

Blue chips almost broadly declined. With increasing risks of Brexit, HSBC HOLDINGS (00005.HK)  -1.450 (-2.938%)    Short selling $439.06M; Ratio 40.424%   and STANCHART(02888.HK)  -2.600 (-4.388%)    Short selling $31.00M; Ratio 19.842%   dived 2.9% and 4.2%. Report said China Insurance Regulatory Commission visited foreign-invested insurer to study the insurance policy of Hong Kong. AIA (01299.HK)  -1.700 (-3.644%)    Short selling $52.40M; Ratio 9.480%   slumped 3.4%. For Hong Kong banks, Citigroup downgraded HANG SENG BANK (00011.HK)  -3.100 (-2.264%)    Short selling $39.54M; Ratio 27.013%   and BANK OF E ASIA (00023.HK)  -1.200 (-4.068%)    Short selling $34.92M; Ratio 61.220%   to Sell. The two stocks plunged 2.3% and 4% respectively. 
CHINA MOBILE (00941.HK)  -1.750 (-1.965%)    Short selling $55.76M; Ratio 11.886%   and TENCENT (00700.HK)  -5.600 (-3.198%)    Short selling $159.43M; Ratio 10.951%   slumped 2.2% and 2.6%. Hong Kong property stocks were under pressure. WHARF HOLDINGS (00004.HK)  -1.250 (-2.741%)    Short selling $30.80M; Ratio 32.207%   , CK PROPERTY (01113.HK)  -1.300 (-2.658%)    Short selling $901.63K; Ratio 0.731%   , SINO LAND (00083.HK)  -0.340 (-2.746%)    Short selling $5.12M; Ratio 20.195%   and SHK PPT (00016.HK)  -2.400 (-2.586%)    Short selling $39.08M; Ratio 25.955%   saw loss of 2.8%-3.6%. In addition, MENGNIU DAIRY (02319.HK)  -0.800 (-5.706%)    Short selling $22.45M; Ratio 28.686%   collapsed 6.7%, the worst performing blue chip this morning. 
New York oil futures receded to about US$49 per barrel. SINOPEC CORP (00386.HK)  -0.180 (-3.237%)    Short selling $20.00M; Ratio 11.194%   and PETROCHINA (00857.HK)  -0.250 (-4.417%)    Short selling $47.29M; Ratio 16.994%   slipped 3% and 4.4%

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