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HSI Hikes 116 pts; Casinos Fare Well

Three major US stock indices showed different trends last night (9 January), with Nasdaq Composite Index hitting new high. Hang Seng Index opened up 2 pts and once hit the bottom at 22,549. It later reverted up 133 pts to peak at 22,692. The index futures closed the midday up 116 pts or 0.5% to 22,675. Hang Seng China Enterprises Index ticked up 54 pts or 0.6% to 9,656. Half-day market turnover amounted to $32.314 billion. 

As at noon, the Southbound Trading of Shanghai-Hong Kong Stock Connect registered net influx of RMB501 million while the Southbound Trading of Shenzhen-Hong Kong Stock Connect posted net influx of RMB175 million. 

Credit Suisse and Goldman Sachs were upbeat on Macau gaming stocks, sending the share prices of the sector to advance. GALAXY ENT (00027.HK)  +0.400 (+1.128%)    Short selling $96.36M; Ratio 12.248%   and SANDS CHINA LTD (01928.HK)  +0.750 (+2.171%)    Short selling $204.46M; Ratio 23.090%   rose 1.3% and 0.8%. MGM CHINA (02282.HK)  +0.680 (+4.416%)    Short selling $16.60M; Ratio 10.306%   and SJM HOLDINGS (00880.HK)  +0.200 (+3.300%)    Short selling $14.84M; Ratio 13.156%   shot up 3.2% and 3.3%. Income stocks CLP HOLDINGS (00002.HK)  +1.750 (+2.373%)    Short selling $49.71M; Ratio 16.951%   and HK & CHINA GAS (00003.HK)  +0.420 (+2.991%)    Short selling $48.00M; Ratio 18.403%   lifted 1.6% and 1.9%. MTR CORPORATION (00066.HK)  +0.450 (+1.173%)    Short selling $17.86M; Ratio 15.608%   added 1.2%. 

INTIME (01833.HK)  +2.510 (+35.704%)    Short selling $18.84M; Ratio 1.013%   was proposed privatization by Alibaba at over 42% premium. The stock rocketed 34.7% after trading resumption. Other mainland department store stocks also saw support. MAOYE INT'L (00848.HK)  +0.040 (+5.479%)    Short selling $53.86K; Ratio 0.324%   trimmed shareholding in Maoye Communication with RMB680 million gain. The shares soared 4.1%. PARKSON GROUP (03368.HK)  +0.050 (+5.952%)    Short selling $232.91K; Ratio 1.632%   , SHIRBLE STORE (00312.HK)  +0.020 (+3.571%)   , GOLDEN EAGLE (03308.HK)  +0.220 (+2.000%)    Short selling $272.26K; Ratio 1.011%   and NWDS CHINA (00825.HK)  +0.040 (+3.883%)   surged 2.9%-3.6%. 

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