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<HK Wrap-up>HSI Climbs 78 pts; MEITUAN Rockets 11%, but NWD Crumples 6%+
Hong Kong stocks were on the rise today. The HSI elevated 78 points or 0.5% to close at 16,589. The HSCEI added 50 points or 0.9% to close at 5,728. The HSTECH elevated 56 points o...
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<HK Wrap-up>HSI Climbs 78 pts; MEITUAN Rockets 11%, but NWD Crumples 6%+
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Hong Kong stocks were on the rise today. The HSI elevated 78 points or 0.5% to close at 16,589. The HSCEI added 50 points or 0.9% to close at 5,728. The HSTECH elevated 56 points or 1.7% to close at 3,488. Total turnover for the day was $121.832 billion.

MEITUAN-W (03690.HK)  -0.600 (-0.478%)    Short selling $446.65M; Ratio 11.192%   surged 10.8% to $88.4, with a turnover of over $9.6 billion. NTES-S (09999.HK)  +4.400 (+2.778%)    Short selling $237.38M; Ratio 16.616%   shares descended 1.9% after its non-GAAP net profit from continuing operations and quarterly revenue for 4Q23 were slightly short of market expectations. China's cloud services saw a price-cutting war, with BABA-SW (09988.HK)  +6.000 (+7.528%)    Short selling $1.05B; Ratio 11.081%   and TENCENT (00700.HK)  +1.400 (+0.356%)    Short selling $1.07B; Ratio 9.649%   incrementing 0.2% and 0.1%, JD-SW (09618.HK)  +1.700 (+1.284%)    Short selling $196.38M; Ratio 10.404%   inclining 1.7%, and KINGSOFT CLOUD (03896.HK)  +0.070 (+3.846%)    Short selling $1.90M; Ratio 3.897%   falling 2.5%. Dell Technologies (DELL.US)      beat quarterly results expectations, and LENOVO GROUP (00992.HK)  -0.140 (-1.351%)    Short selling $52.92M; Ratio 7.387%   lifted 4.8%.

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For other tech stocks, BIDU-SW (09888.HK)  +2.500 (+2.306%)    Short selling $463.68M; Ratio 24.693%   gained 1.7%, while XIAOMI-W (01810.HK)  +0.120 (+0.605%)    Short selling $271.59M; Ratio 12.954%   and KUAISHOU-W (01024.HK)  +0.050 (+0.086%)    Short selling $437.37M; Ratio 19.324%   escalated less than 1%. Mobile phone-related stocks rose, with BYD ELECTRONIC (00285.HK)  -0.050 (-0.148%)    Short selling $13.94M; Ratio 4.326%   , COWELL (01415.HK)  -0.480 (-2.417%)    Short selling $1.81M; Ratio 3.588%   and AAC TECH (02018.HK)  -1.900 (-7.308%)    Short selling $52.39M; Ratio 15.724%   each mounting 2.7% to 4.4%.

The market was looking forward to possible M&As among Chinese carmakers, NIO-SW (09866.HK)  +0.050 (+0.119%)    Short selling $40.16M; Ratio 26.249%   and XPENG-W (09868.HK)  +0.400 (+1.272%)    Short selling $96.95M; Ratio 14.731%   hiked 6.2% and 8.2%, while BYD COMPANY (01211.HK)  +0.800 (+0.361%)    Short selling $173.65M; Ratio 16.237%   escalated 0.7%. LI AUTO-W (02015.HK)  -3.800 (-3.811%)    Short selling $255.61M; Ratio 15.537%   unveiled its first battery electric multipurpose passenger vehicle "MEGA", and its shares lifted 1.1%.

YUM CHINA (09987.HK)  -0.400 (-0.131%)    Short selling $24.85M; Ratio 29.857%   audited net profit rose 87% last year and declared a final dividend of US$16 cents. Its share price rose 0.3% for the day. Pharmaceutical stocks INNOVENT BIO (01801.HK)  +0.250 (+0.628%)    Short selling $29.41M; Ratio 10.642%   and BEIGENE (06160.HK)  +1.700 (+1.668%)    Short selling $34.74M; Ratio 20.429%   crumpled 6.3% and 8.4%. Telecom stock CHINA UNICOM (00762.HK)  +0.070 (+1.122%)    Short selling $2.33M; Ratio 1.119%   spiked 7%.

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For financials, HSBC HOLDINGS (00005.HK)  -1.550 (-2.211%)    Short selling $346.37M; Ratio 13.774%   added 1.6% to $61.2, while HKEX (00388.HK)  +3.000 (+1.027%)    Short selling $573.84M; Ratio 21.627%   dropped another 1.2% after announcing in-line results yesterday afternoon. AIA (01299.HK)  +2.100 (+3.323%)    Short selling $217.91M; Ratio 10.329%   fell 1.7%, and STANCHART (02888.HK)  +0.650 (+0.847%)    Short selling $2.80M; Ratio 7.633%   rose 2.5% at $65.5.

NEW WORLD DEV (00017.HK)  +0.320 (+3.386%)    Short selling $36.61M; Ratio 29.569%   shares crashed 6.8% to $9.2. The company announced at noon that it sold its interest in Discovery Park to Chinachem for $4.02 billion, making a profit of about $1.3 billion.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-17 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

Related NewsHaitong Int'l Elevates TENCENT (00700.HK) TP to $464 as High Quality Growth Continues w/ More Upsides in Games

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