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<H Shrs>HSI Mounts 95 pts at Close as NTES, GWMOTOR Hike; BIDU Softens against Mkt
Hong Kong stocks rose. The HSI hiked 95 points or 0.6% to close at 16,828. The HSCEI gained 26 points or 0.4% to close at 5,895. The HSTECH added 33 points or 1% to close at 3,478....
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<H Shrs>HSI Mounts 95 pts at Close as NTES, GWMOTOR Hike; BIDU Softens against Mkt
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Hong Kong stocks rose. The HSI hiked 95 points or 0.6% to close at 16,828. The HSCEI gained 26 points or 0.4% to close at 5,895. The HSTECH added 33 points or 1% to close at 3,478. The total market turnover for the day amounted to $82.934 billion.

China approved 14 imported online games in April, in which TENCENT (00700.HK)  -0.800 (-0.230%)    Short selling $1.43B; Ratio 16.055%   's "Mega Man 11" was approved. TENCENT opened higher before falling, and slid 0.1% at close. NTES-S (09999.HK)  +1.800 (+1.206%)    Short selling $67.82M; Ratio 6.283%   climbed 4.1% after Chinese media reported that Activision Blizzard and NTES-S will announce the resumption of cooperation. BIDU-SW (09888.HK)  +2.400 (+2.379%)    Short selling $619.80M; Ratio 29.303%   sagged 3.3% after brokers lowered their target prices on the stock, citing weak advertising recovery in 1Q24.

Related NewsM Stanley: XIAOMI-W (01810.HK) 2024 NEV Shipments, GMs Rise; Non-EV Rev. Growth Offsets Margin Pressure
Citi Research expected GWMOTOR (02333.HK)  +0.100 (+0.862%)    Short selling $211.86M; Ratio 37.122%   's 1Q24 net profit to be in the range of RMB2.5 billion to RMB2.8 billion, much higher than the RMB170 million in 1Q23. GWMOTOR rallied 8.7% at close, while BYD COMPANY (01211.HK)  +3.600 (+1.692%)    Short selling $675.06M; Ratio 28.587%   and XPENG-W (09868.HK)  +0.450 (+1.485%)    Short selling $115.22M; Ratio 15.919%   leaped 2.6% and 6%.

Lithium prices stabilized in China. GANFENGLITHIUM (01772.HK)  +0.900 (+4.009%)    Short selling $45.33M; Ratio 31.109%   and TIANQI LITHIUM (09696.HK)  +1.200 (+4.082%)    Short selling $8.13M; Ratio 8.549%   swelled 9% and 5.7%. For consumers, BUD APAC (01876.HK)  +0.220 (+2.011%)    Short selling $55.98M; Ratio 32.653%   rebounded 3.4%, while auto agency ZHONGSHENG HLDG (00881.HK)  +0.440 (+3.034%)    Short selling $16.53M; Ratio 19.600%   picked up 2.9%. HAIDILAO (06862.HK)  -0.060 (-0.334%)    Short selling $38.99M; Ratio 12.695%   , MENGNIU DAIRY (02319.HK)  +0.180 (+1.117%)    Short selling $29.47M; Ratio 9.100%   , CHINA FEIHE (06186.HK)  -0.070 (-1.617%)    Short selling $8.73M; Ratio 11.284%   and WH GROUP (00288.HK)  0.000 (0.000%)    Short selling $12.46M; Ratio 8.601%   elevated 2.5-2.9%.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-04-29 16:25.)

Related NewsMacquarie Upgrades ASMPT (00522.HK) to Outperform, Elevates TP by 88% to $117.81

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