Hong Kong stocks lowered along with the external market in the morning as the market continued to worry about the possible postponement of US Fed's interest rate cuts. HSI declined 239 points or 1.3% to 18,629 at the half-day. HSCEI reduced 86 points or 1.3% to 6,615. HSTECH dropped 73 points or 1.9% to 3,822. Half-day turnover totalled $73.118 billion.
XIAOMI-W (01810.HK) -0.640 (-3.379%) Short selling $545.63M; Ratio 16.306% achieved a 101% surge in 1Q24 non-IFRS net profit, far exceeding expectations, and raised its full-year car delivery target to 120,000 units. XIAOMI shares however dropped 3.6%. NTES-S (09999.HK) +0.600 (+0.424%) Short selling $47.34M; Ratio 1.996% 's 1Q24 non-GAAP net profit increased 12% as expected, and its shares rebounded 2% in the morning session after declining for several days. BILIBILI-W (09626.HK) -13.500 (-11.269%) Short selling $210.49M; Ratio 23.041% narrowed its adjusted net loss to nearly RMB440 million in 1Q24. BILIBILI's US ADR collapsed more than 12% and its Hong Kong shares also cratered 10.5% in the morning. WB-SW (09898.HK) -3.250 (-4.530%) Short selling $911.84K; Ratio 4.696% 's 1Q24 net profit declined 51%, and its shares routed 5.6%.
BABA-SW (09988.HK) -0.500 (-0.636%) Short selling $350.10M; Ratio 9.199% proposed to issue convertible senior notes to raise up to US$5 billion, and its shares waned 0.3% to $78.4. For other tech stocks, TENCENT (00700.HK) -4.800 (-1.257%) Short selling $1.02B; Ratio 14.093% fell 1.3% at $377, BIDU-SW (09888.HK) -1.150 (-1.161%) Short selling $105.56M; Ratio 14.102% dropped 0.5%, and MEITUAN-W (03690.HK) -3.200 (-2.678%) Short selling $461.73M; Ratio 15.075% , JD-SW (09618.HK) -4.100 (-3.314%) Short selling $161.15M; Ratio 9.411% , and KUAISHOU-W (01024.HK) -2.500 (-4.227%) Short selling $581.93M; Ratio 20.896% declined more than 2%.
Individual pharmaceutical stocks declined significantly, with AKESO (09926.HK) -11.000 (-22.893%) Short selling $377.19M; Ratio 9.448% evaporating 28.2%, while BEIGENE (06160.HK) -6.100 (-6.237%) Short selling $58.60M; Ratio 27.820% and HANSOH PHARMA (03692.HK) -0.640 (-3.704%) Short selling $19.30M; Ratio 17.330% receded 5.9% and 5.4% respectively.
Mainland real estate stocks continued to retreat. CHINA VANKE (02202.HK) -0.590 (-8.651%) Short selling $104.38M; Ratio 12.073% , R&F PROPERTIES (02777.HK) -0.100 (-9.009%) Short selling $5.72M; Ratio 29.363% and SINO-OCEAN GP (03377.HK) -0.040 (-8.000%) crumpled 7.2% to 8%, while LONGFOR GROUP (00960.HK) -0.800 (-5.587%) Short selling $53.53M; Ratio 16.901% , GREENTOWN CHINA (03900.HK) -0.470 (-5.465%) Short selling $9.61M; Ratio 6.369% , CIFI HOLD GP (00884.HK) -0.035 (-7.778%) Short selling $536.83K; Ratio 0.479% , KWG GROUP (01813.HK) -0.040 (-8.163%) , SUNAC (01918.HK) -0.110 (-6.790%) Short selling $2.50M; Ratio 0.407% and AGILE GROUP (03383.HK) -0.060 (-8.000%) Short selling $5.09M; Ratio 9.914% lost more than 5%. Property manager CG SERVICES (06098.HK) -0.570 (-8.249%) Short selling $25.14M; Ratio 7.728% plummeted 6.4%. BEKE-W (02423.HK) -5.550 (-11.223%) Short selling $46.56M; Ratio 28.916% 's 1Q net profit crashed 84%, and its shares also slumped 10.5% at midday.
Interest rate-sensitive local property stocks were under pressure, with HANG LUNG PPT (00101.HK) -0.340 (-4.261%) Short selling $56.62M; Ratio 18.534% and MTR CORPORATION (00066.HK) -1.160 (-4.201%) Short selling $121.57M; Ratio 50.418% diving 4.3% and 4.6%, while SHK PPT (00016.HK) -2.100 (-2.650%) Short selling $70.06M; Ratio 31.994% , NEW WORLD DEV (00017.HK) -0.320 (-3.386%) Short selling $34.85M; Ratio 40.161% , SWIREPROPERTIES (01972.HK) -0.280 (-1.867%) Short selling $26.87M; Ratio 32.337% and WHARF REIC (01997.HK) -0.700 (-2.687%) Short selling $13.78M; Ratio 17.381% declined 2.9% to 3.7%. In financials, HSBC HOLDINGS (00005.HK) -0.500 (-0.725%) Short selling $148.28M; Ratio 15.338% dropped 0.7% to $68.55, while HKEX (00388.HK) -3.800 (-1.368%) Short selling $100.63M; Ratio 7.275% and AIA (01299.HK) -1.200 (-1.946%) Short selling $118.81M; Ratio 7.862% tumbled 1.1% and 1.6%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-24 16:25.)
