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HSI Falls 79 pts; Casinos, Chinese Insurers Retreat
Dow Jones Industrial Average Index hit a soft spot last Friday (26 August) on accelerating cases for U.S interest rate hike. Hang Seng Index slightly opened down 5 pts and slid up to 146 pts to bottom at 22,762. The benchmark index retreated 79 pts or 0.4% to finish at 22,829. Hang Seng China Enterprises Index dipped 52 pts or 0.6% to 9,497. Half-day turnover amounted to $29.465 billion.
HSBC HOLDINGS (00005.HK)  -0.250 (-0.447%)    Short selling $22.26M; Ratio 6.297%   inched up less than 0.1% to $55.95.
CHINA MOBILE (00941.HK)  +0.350 (+0.364%)    Short selling $51.28M; Ratio 16.747%   gained 0.4%. TENCENT (00700.HK)  +1.000 (+0.499%)    Short selling $89.78M; Ratio 8.137%   rose 0.6%. LI & FUNG (00494.HK)  +0.120 (+3.158%)    Short selling $6.33M; Ratio 16.907%   rebounded 1.8%.
Blue chip Macau gaming stocks retreated. SANDS CHINA LTD (01928.HK)  -0.750 (-2.443%)    Short selling $54.94M; Ratio 42.485%   and GALAXY ENT (00027.HK)  -1.000 (-3.781%)    Short selling $156.30M; Ratio 47.942%   fell sharply 2.4% and 4%, with the latter being the worst performer of blue chips this morning.
Chinese insurers were broadly on a decline. PICC GROUP (01339.HK)  -0.060 (-1.869%)    Short selling $1.89M; Ratio 8.841%   and PICC P&C (02328.HK)  -0.100 (-0.782%)    Short selling $28.18M; Ratio 27.901%   faded 1.9% and 1.4%. Shares in CHINA LIFE (02628.HK)  -0.280 (-1.468%)    Short selling $114.50M; Ratio 25.320%   and PING AN (02318.HK)  -0.300 (-0.748%)    Short selling $63.30M; Ratio 20.828%   gave up 1.3% and 1%.
A number of brokers raised the target price of AAC TECH (02018.HK)  +4.400 (+5.366%)    Short selling $15.85M; Ratio 4.520%   following results announcement. The stock once peaked at $89.65 and last jumped nearly 6% to $86.9.

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