The HSI opened 90 points or 0.4% lower at 23,620. The HSCEI dropped 34 points or 0.4% to 8,559. The HSTECH fell 27 points or 0.5% to 5,187. The US Fed held rates sturdy, signaling no rush to cut. The DJIA ebbed back 44 points or 0.1% overnight (18th).

For techs, BABA-W (09988.HK)  +1.700 (+1.545%)    Short selling $3.21B; Ratio 26.960%   opened 0.5% lower at HKD111.6. TENCENT (00700.HK)  +7.500 (+1.506%)    Short selling $2.17B; Ratio 20.960%   dipped 1% to HKD503. Market attention focused on JD-SW (09618.HK)  +0.900 (+0.722%)    Short selling $683.61M; Ratio 30.043%   ’s foray into the tourism sector, with JD-SW and MEITUAN-W (03690.HK)  +0.300 (+0.234%)    Short selling $737.04M; Ratio 12.603%   opening down 0.7% and 0.8%, respectively, and TRIP.COM-S (09961.HK)  +1.800 (+0.405%)    Short selling $259.43M; Ratio 15.844%   down 2.3%.

In financials, HSBC HOLDINGS (00005.HK)  +1.050 (+1.151%)    Short selling $160.64M; Ratio 14.809%   edged 0.1% lower to HKD91.75. HKEX (00388.HK)  +2.800 (+0.718%)    Short selling $365.33M; Ratio 14.308%   shed 1% to HKD400. AIA (01299.HK)  +1.100 (+1.648%)    Short selling $290.82M; Ratio 19.641%   opened flat at HKD68.1. Stablecoin-related stocks swelled, with ZA ONLINE (06060.HK)  -0.970 (-4.814%)    Short selling $237.72M; Ratio 10.786%   jumping up 7.9% to HKD21.95.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-20 16:25.)