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HSI Slumps 235 pts; Developers Subdued

 The US stocks retreated last night (21 September) and reversed the nine-day increase. Given the intensified geopolitical situation in North Korea, Asia Pacific bourses broadly headed south in morning trading. This morning, Hang Seng Index opened down 160 pts and fell 264 pts at most to bottom at 27,845, sinking below 10MA (about 27,973). At midday, the benchmark index slumped 235 pts or 0.8% to close at 27,874. Hang Seng China Enterprises Index dipped 97 pts or 0.9% to 11,100. Half-day market turnover reached $52.912 billion. 

TENCENT (00700.HK)  -1.000 (-0.288%)    Short selling $474.33M; Ratio 18.498%   , AIA (01299.HK)  -0.150 (-0.249%)    Short selling $72.96M; Ratio 9.669%   , HSBC HOLDINGS (00005.HK)  -0.500 (-0.652%)    Short selling $68.85M; Ratio 13.162%   and CHINA MOBILE (00941.HK)  -0.700 (-0.873%)    Short selling $21.15M; Ratio 2.727%   fell 0.3%, 0.4%, 0.7% and 0.7%. HKEX (00388.HK)  -3.800 (-1.734%)    Short selling $40.06M; Ratio 7.684%   dropped 1.6% to $215.8. Apple Inc. descended, sending handset equipment stocks lower. AAC TECH (02018.HK)  -3.900 (-2.774%)    Short selling $68.59M; Ratio 24.708%   , SUNNY OPTICAL (02382.HK)  -2.500 (-1.873%)    Short selling $33.63M; Ratio 9.505%   and COWELL (01415.HK)  -0.060 (-1.626%)   sank 1.9%-2.1%. Q TECH (01478.HK)  -0.540 (-3.766%)    Short selling $2.12M; Ratio 2.857%   and BYD ELECTRONIC (00285.HK)  -0.650 (-2.616%)    Short selling $16.60M; Ratio 5.772%   dived 3.3% and 4.6%. 

Standard & Poor's downgraded Hong Kong to AA+ from AAA with outlook adjusted to Stable from Negative, dragging property developers. HSI - Properties closed lower 1.6%. SINO LAND (00083.HK)  -0.140 (-1.016%)    Short selling $516.32K; Ratio 5.971%   , SHK PPT (00016.HK)  -1.700 (-1.290%)    Short selling $2.72M; Ratio 0.879%   , CK ASSET (01113.HK)  -0.900 (-1.371%)    Short selling $9.33M; Ratio 3.772%   , HANG LUNG PPT (00101.HK)  -0.300 (-1.630%)    Short selling $6.56M; Ratio 5.175%   and HENDERSON LAND (00012.HK)  -0.600 (-1.094%)    Short selling $10.60M; Ratio 9.142%  lost 1.3%-2%. NEW WORLD DEV (00017.HK)  +0.160 (+1.449%)    Short selling $13.97M; Ratio 4.420%   rose 0.5% post results. NEW WORLD DEV yesterday announced that its annual net profit decreased 11.4%. CHINA MER PORT (00144.HK)  -1.000 (-4.000%)    Short selling $21.57M; Ratio 21.191%   , excluding dividend yesterday, plunged 3.6%. 

Auto stocks receded. GEELY AUTO (00175.HK)  -0.750 (-3.099%)    Short selling $61.43M; Ratio 9.243%   tumbled 2.9%. BYD COMPANY (01211.HK)  -1.200 (-1.675%)    Short selling $317.23M; Ratio 29.611%   and GREATWALL MOTOR (02333.HK)  -0.080 (-0.787%)    Short selling $17.50M; Ratio 12.733%   receded 1%. BRILLIANCE CHI (01114.HK)  -1.250 (-5.252%)    Short selling $20.20M; Ratio 9.651%   and GAC GROUP (02238.HK)  -0.440 (-2.308%)    Short selling $15.49M; Ratio 6.982%   collapsed 5% and 4%

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