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HSI Drops 30 pts; Brokers Under Pressure
Hong Kong stocks softened within narrow range today (8 June). Hang Seng Index opened down 33 pts and saw loss widened to 148 pts afterwards to hit the trough of 21,179. The benchmark index eventually closed down 30 pts or 0.14% at 21,297. Hang Seng China Enterprises Index rose 23 pts or 0.3% at 9,027. The market turnover amounted to $56.369 billion at close.

Heavyweights had a weaker tone. HSBC HOLDINGS (00005.HK)  -0.350 (-0.688%)    Short selling $239.35M; Ratio 33.163%   and CHINA MOBILE (00941.HK)  -0.750 (-0.823%)    Short selling $249.00M; Ratio 17.309%   slid 0.7% and 0.8%. TENCENT (00700.HK)  -0.700 (-0.396%)    Short selling $738.28M; Ratio 22.309%   and CCB (00939.HK)  -0.020 (-0.382%)    Short selling $174.98M; Ratio 14.000%   lost nearly 0.4%. 

New York oil futures recouped US$50. SINOPEC CORP (00386.HK)  +0.140 (+2.541%)    Short selling $143.63M; Ratio 23.331%   soared 2.5%, representing the best performer of blue chips. CNOOC (00883.HK)  +0.180 (+1.881%)    Short selling $131.43M; Ratio 18.871%   and PETROCHINA (00857.HK)  +0.130 (+2.326%)    Short selling $109.97M; Ratio 17.750%   ticked up 1.9% and 2.3%. LINK REIT (00823.HK)  +0.400 (+0.812%)    Short selling $24.80M; Ratio 8.105%   added 0.8% at $49.65 since its annual results were slightly better than market projection.

Brokers declined. HTSC (06886.HK)  -0.560 (-3.306%)    Short selling $22.00M; Ratio 16.594%   slipped 3.3%. CITIC SEC (06030.HK)  -0.220 (-1.249%)    Short selling $37.03M; Ratio 17.450%   faded 1.2%. HAITONG SEC (06837.HK)  -0.240 (-1.824%)    Short selling $34.52M; Ratio 16.119%   trended down 1.8%. After surging for days, CHONGQING IRON (01053.HK)  -0.100 (-5.556%)   plunged 5.6%. 

Paper industry fared well. ND PAPER (02689.HK)  +0.340 (+6.126%)    Short selling $14.37M; Ratio 11.832%   and LEE & MAN PAPER (02314.HK)  +0.350 (+6.836%)    Short selling $1.52M; Ratio 1.810%   rallied 6.1% and 6.8%. 

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