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BOC HONG KONG, HANG SENG BANK Continue Higher 4%-6% after G Sachs Lift TPs

HANG SENG BANK (00011.HK)  +13.200 (+7.428%)    Short selling $71.33M; Ratio 22.021%   , which is scheduled to release its results next Tuesday, breached above four moving averages (100MA and 50MA at $187.67 and $187.84) after being upgraded to Buy by Goldman Sachs with target price raised by 16% to $220. The stock peaked at $188.9 and last traded at $188.2, showing a continuous rise of 5.9%, on increasing volume to 2.11 million shares.

Goldman Sachs also raised the target price of BOC HONG KONG (02388.HK)  +1.750 (+4.679%)    Short selling $47.57M; Ratio 19.907%   by 2.2% to $47.7 and upgraded the investment rating to Buy. Shares in the bank reclaimed 10MA and 100MA ($38.2 and $38.76) and last traded at $38.9, showing a continuous rise of 4%, on volume of 8.71 million shares.

HSBC HOLDINGS (00005.HK)  +2.300 (+2.882%)    Short selling $207.35M; Ratio 22.167%   reclaimed 10MA after midday ($81.14) to peak at $81.25 and last printed at $81.15, up 1.7%. Brokers expected the heavyweight to report pre-tax profit at a range from US$17.4 billion to US$18.5 billion last year. 

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