SHCI Falls Nearly 1% at Close Shanghai and Shenzhen stock markets slightly opened down in the early trade. At close, Shanghai Composite Index and Shenzhen Component Index slid 0.9%/1.3% to 3,052/ 9,756. CSI 300 Index ended at 3,337, down 0.44%. The ChiNext Index closed at 1,771, down 1.73%, hitting over two-year low. Turnover of two markets rose to RMB402.4 billion.
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Short Selling Turnover $11.984B, or 15.96% of Market Turnover at Close The short selling turnover of HK market at close amounted to $11.984 billion, or 15.96% of securities eligible for short selling, against 15.31% of the last trading day. The short selling ratio of HS H ETF (02828.HK) +0.800 (+0.785%) Short selling $1.09B; Ratio 47.390% was 47.39% against the 3-day average of 36.88%; the short selling ratio of PING AN (02318.HK) +1.650 (+3.763%) Short selling $826.98M; Ratio 22.047% was 22.05% against the 3-day average of 21.54%; the short selling ratio of TRACKER FUND (02800.HK) +0.100 (+0.399%) Short selling $728.89M; Ratio 32.109% was 32.11% against the 3-day average of 27.92%.
Credit Suisse Upgrades ABC (01288.HK) to Outperform; Adjusts Target Prices on CN Banks Credit Suisse said in its report that the recent upswing of Chinese banks' stock prices was restricted mainly due to unexpected increase in PBOC interbank interest rates, sudden regulatory actions suppressing non-loan risks and commodity price adjustment, which may lead to inflation and corporate cash flow callback. The research house adjusted its profit forecast on major Chinese banks this year (-4% to + 3%) and next year (-2% to + 7%). ABC (01288.HK) +0.040 (+1.117%) Short selling $82.58M; Ratio 17.171% was upgraded from Neutral to Outperform given the increase in PBOC interbank interest rates, with the target price raised from $3.9 to $4.3. PSBC (01658.HK) 0.000 (0.000%) Short selling $1.20M; Ratio 1.156% was also upgraded from Underperform to Neutral with target price raised from $3.5 to $4.8. The target prices of other Chinese banks were also revi
HSI Adds 126 pts; TENCENT Swings Down from Peak The US stocks traded mixed yesterday (9 May). Nasdaq Composite Index hit a new high. Hang Seng Index opened up 42 pts and climbed 275 pts at most to peak at 25,164. At close, the benchmark index increased 126 pts or 0.5% to 25,015. Hang Seng China Enterprises Index gained 98 pts or 1% to 10,227. Market turnover rose to $93.644 billion. CHINA UNICOM (00762.HK) +0.340 (+3.386%) Short selling $150.27M; Ratio 19.226% shot up 3.4%. CKH HOLDINGS (00001.HK) +2.250 (+2.285%) Short selling $89.31M; Ratio 8.632% 's Italian telecom Wind reported first-quarter EBITDA of EUR458 million. CKH HOLDINGS jumped 2.3% to close at $100.7, rising above $100. CKI HOLDINGS (01038.HK) +0.900 (+1.318%) Short selling $33.51M; Ratio 12.929% also hiked 1.3%. HSBC HOLDINGS (00005.HK) +0.200 (+0.298%) Short selling $349.01M; Ratio 15.191% and AIA (01299.HK) +0.25
NEW WORLD DEV Wins Cheung Sha Wan Commercial Land Site with $4.029B; $7,478/Sq.ft. Meets Estimates The Lands Department announced that the tender for a site, New Kowloon Inland Lot No. 6582 at Lai Chi Kok Road near Cheung Shun Street, Cheung Sha Wan, Kowloon, has been awarded to the highest tenderer, Good Sense Development Limited (parent company: NEW WORLD DEV (00017.HK) +0.010 (+0.103%) Short selling $28.55M; Ratio 25.650% ), on a 50-year land grant at a premium of $4.029 billion. Based on the maximum GFA 538,800 sq.ft., the accommodation value will be about $7,478 per sq.ft.. New Kowloon Inland Lot No. 6582 has a site area of about 44,900 sq.ft. and is designated for non-industrial (excluding residential, godown and petrol filling station) purposes. The maximum GFA will include the gross floor area of a child care centre and a neighbourhood elderly centre sub-base, and a public vehicle park to be constructed by the purchaser. Centaline e