Hong Kong stocks opened down and rebounded afterwards. HSI gained 151 points or 0.8% to close at 19,115. HSCEI rose 42 points or 0.6% to close at 6,761. HSTECH ascended 56 points or 1.4% to close at 4,018. Total turnover for the day was $147.238 billion.

The proposed US Biosecure Act restricting business with Chinese biotech companies such as WUXI APPTEC (02359.HK)  -0.650 (-1.898%)    Short selling $18.17M; Ratio 12.283%   has been revised, delaying the deadline to sever ties. WUXI APPTEC opened 15% higher and receded, rising 4.5% for the day. WUXI BIO (02269.HK)  -0.180 (-1.557%)    Short selling $35.17M; Ratio 8.905%   from the same series opened 7.9% higher and also declined afterwards, closing the day diving 3.5%. PHARMARON (03759.HK)  -0.210 (-2.174%)    Short selling $4.76M; Ratio 20.101%   opened 10.3% higher and closed inclining 2.8% for the day.

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Stocks with the "valuation system with Chinese characteristics" theme continued to be speculated. CHINA TAIPING (00966.HK)  +0.160 (+1.856%)    Short selling $7.12M; Ratio 12.277%   hiked 6.3%. CRRC (01766.HK)  +0.050 (+1.008%)    Short selling $6.67M; Ratio 3.905%   and TIMES ELECTRIC (03898.HK)  +0.150 (+0.503%)    Short selling $3.06M; Ratio 6.530%   surged 7.3% and 6%, while CHINA RAILWAY (00390.HK)  +0.040 (+0.911%)    Short selling $18.97M; Ratio 8.758%   and CHINA CRSC (03969.HK)  +0.050 (+1.497%)    Short selling $2.70M; Ratio 9.830%   added 4.5% and 5.1%.

For tech stocks, BABA-SW (09988.HK)  0.000 (0.000%)    Short selling $397.42M; Ratio 11.173%   climbed 4.1% to $81.15, while TENCENT (00700.HK)  -6.800 (-1.782%)    Short selling $949.23M; Ratio 10.008%   lifted 1.9% to $378.2. BILIBILI-W (09626.HK)  -4.800 (-4.054%)    Short selling $123.64M; Ratio 17.426%   and WEIMOB INC (02013.HK)  -0.050 (-3.401%)    Short selling $370.69K; Ratio 1.161%   rallied 6.1% and 6%, MEITUAN-W (03690.HK)  -2.300 (-2.041%)    Short selling $637.43M; Ratio 7.778%   and JD-SW (09618.HK)  -1.700 (-1.448%)    Short selling $339.26M; Ratio 15.038%   lifted 3.1% and 2.1%, while XIAOMI-W (01810.HK)  -0.340 (-1.893%)    Short selling $419.49M; Ratio 11.865%   declined 0.2%. BIDU-SW (09888.HK)  -0.050 (-0.053%)    Short selling $113.54M; Ratio 13.153%   , NTES-S (09999.HK)  -0.600 (-0.407%)    Short selling $158.56M; Ratio 13.083%   and KUAISHOU-W (01024.HK)  -1.750 (-3.238%)    Short selling $433.62M; Ratio 18.515%   incremented less than 1%. TME-SW (01698.HK)  -0.400 (-0.692%)    Short selling $1.08M; Ratio 9.033%   ballooned 4.1% pre-results, while SENSETIME-W (00020.HK)  -0.030 (-2.027%)    Short selling $20.94M; Ratio 2.006%   declined 0.7%.

It was reported that the US tariff rate on Chinese electric vehicles will be hiked to 102.5%. BYD COMPANY (01211.HK)  -1.200 (-0.524%)    Short selling $209.03M; Ratio 16.734%   shed 0.4%. LEAPMOTOR (09863.HK)  -0.100 (-0.365%)    Short selling $14.40M; Ratio 25.610%   and XPENG-W (09868.HK)  -0.350 (-1.069%)    Short selling $153.02M; Ratio 22.219%   retreated 4.7% and 3.8%.

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8 new Mainland cities were added to the Individual Visit Scheme. SJM HOLDINGS (00880.HK)  +0.020 (+0.717%)    Short selling $3.58M; Ratio 25.210%   surged 8.6%, while SANDS CHINA LTD (01928.HK)  -0.020 (-0.108%)    Short selling $94.94M; Ratio 36.940%   , WYNN MACAU (01128.HK)  -0.120 (-1.662%)    Short selling $22.23M; Ratio 30.698%   , MGM CHINA (02282.HK)  -0.480 (-3.315%)    Short selling $3.11M; Ratio 4.300%   and MELCO INT'L DEV (00200.HK)  -0.040 (-0.641%)    Short selling $3.48M; Ratio 26.412%   advanced 3.8% to 5.1%. Local retailer SA SA INT'L (00178.HK)  0.000 (0.000%)   mounted 5%.

PING AN (02318.HK)  -0.834 (-2.142%)    Short selling $315.83M; Ratio 15.163%   reduced its stake in HSBC HOLDINGS (00005.HK)  +0.250 (+0.365%)    Short selling $428.95M; Ratio 24.353%   to cash out $390 million. HSBC increased 0.1% to $68.1, while PING AN declined 0.4% to $41.1. HKEX (00388.HK)  -2.200 (-0.806%)    Short selling $106.55M; Ratio 12.921%   declined 0.9%.

The situation in the Middle East again triggered a surge in SCFIS (Europe) index futures. Shipping stocks OOIL (00316.HK)  -1.200 (-0.859%)    Short selling $81.23M; Ratio 35.862%   and COSCO SHIP HOLD (01919.HK)  +0.440 (+3.014%)    Short selling $94.16M; Ratio 13.682%   escalated by over 5%.

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(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-07 16:25.)