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HSI Rises 4 pts; HSBC Holdings, BOC Hong Kong Rally
Hang Seng Index traded in a narrow range after opening higher 26 pts this morning. The index inched up 4 pts or 0.02% to finish the morning trade at 23,020, with half-day volatility of only 72 pts. 
Hang Seng China Enterprises Index retreated 27 pts or 0.3% to 9,570. Half-day market turnover amounted to $32.538 billion.

HSBC HOLDINGS (00005.HK)  +1.300 (+2.313%)    Short selling $113.54M; Ratio 8.950%   outperformed the market and surged 2.5% to end at $57.6. However, CHINA MOBILE (00941.HK)  -1.050 (-1.084%)    Short selling $39.56M; Ratio 11.336%   and 
TENCENT (00700.HK)  -3.000 (-1.465%)    Short selling $187.97M; Ratio 17.118%   dipped 0.1% and 0.9%. BOC HONG KONG (02388.HK)  +1.050 (+4.023%)    Short selling $114.13M; Ratio 17.077%   interim net profit surged nearly 2.2 times yearly with the distribution of interim and dividend totaling $1.255. The bank was strengthened this morning and rocketed 4%, becoming the best performer of blue chips.

Chinese banks traded mixed. ICBC (01398.HK)  -0.060 (-1.202%)    Short selling $141.67M; Ratio 22.558%   interim net profit lifted 0.8% yearly, topping estimates. Its shares slid 0.2% at midday. BANK OF CHINA (03988.HK)  +0.040 (+1.159%)    Short selling $73.36M; Ratio 13.830%   interim net profit rose 2.5% yearly, which was in concordance with estimates. Shares in the bank gained 1.2%. CCB (00939.HK)  -0.010 (-0.172%)    Short selling $129.53M; Ratio 21.306%   climbed 0.3%.

Chinese developers generally underperformed the market this morning, with CHINA OVERSEAS (00688.HK)  -0.400 (-1.536%)    Short selling $25.45M; Ratio 13.085%   and CHINA RES LAND (01109.HK)  -0.500 (-2.237%)    Short selling $6.66M; Ratio 4.713%   dived 1.3% and 3.6%, of which the latter became the worst performing blue chip. EVERGRANDE (03333.HK)  -0.400 (-6.944%)    Short selling $103.04M; Ratio 21.145%   interim net profit tumbled 78.6% yearly. However, the company said that it will acquire CHINA VANKE (000002.SZ) with existing capital. EVERGRANDE plunged 6.4% while CHINA VANKE (02202.HK)  -0.020 (-0.100%)    Short selling $33.89M; Ratio 13.821%   
soared 2.2%.

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