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HSI Closes Up 301 pts; CN Developers, Cement Stocks Rally

 US stocks diverged last night (22 February). Hang Seng Index opened up 323 pts this morning and then rallied up to 420 pts to peak at 31,386. The benchmark index ended at 31,267 pts, up 301 pts or 1%. Hang Seng China Enterprises Index gained 206 pts or 1.6% to 12,735. Market turnover receded to $103.332 billion.

Blue chips broadly fared well. HSBC HOLDINGS (00005.HK)  +0.100 (+0.126%)    Short selling $798.05M; Ratio 43.123%   lifted 0.1%. HANG SENG BANK (00011.HK)  +1.400 (+0.718%)    Short selling $33.27M; Ratio 14.112%   rose 0.7% to $196.3. BANK OF E ASIA (00023) continued higher 2.1% on report that its profit surged 1.5 times last year. 

Chinese property developers escalated. COUNTRY GARDEN (02007.HK)  +0.880 (+6.215%)    Short selling $141.77M; Ratio 11.982%   rallied 6.2% and became the best performer of blue chips. CHINA OVERSEAS (00688.HK)  +0.500 (+1.795%)    Short selling $26.66M; Ratio 8.702%   , CHINA RES LAND (01109.HK)  +0.650 (+2.226%)    Short selling $62.49M; Ratio 19.620%   and CHINA VANKE (02202.HK)  +0.800 (+2.235%)    Short selling $11.87M; Ratio 4.627%  jumped 1.8%-2.2%. 
EVERGRANDE (03333.HK)  +0.400 (+1.677%)    Short selling $45.92M; Ratio 15.132%   and SUNAC (01918.HK)  +0.700 (+2.254%)    Short selling $57.26M; Ratio 13.622%   soared 1.7% and 2.3%.

New York oil futures jumped, sending three major oil stocks up 1.4%-3%. CHINA SHENHUA(01088.HK)  +0.550 (+2.412%)    Short selling $99.72M; Ratio 15.002%   soared 2.4%. Cement stocks BBMG (02009.HK)  +0.220 (+5.898%)    Short selling $38.66M; Ratio 7.398%   and CNBM (03323.HK)  +0.390 (+5.152%)    Short selling $24.92M; Ratio 6.509%   escalated 5.9% and 5.2%. CONCH CEMENT (00914.HK)  +1.100 (+2.657%)    Short selling $53.17M; Ratio 18.719%   rallied 2.7%.

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