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<H Shrs>HSI Ends Up 75 Pts; Oil & Gas Stocks Thrive; TRIP.COM-S Up 9%
The Hong Kong bourse displayed an ascending trend today. The HSI opened 134 pts lower and slid 174 pts in the early stage, bottoming at 17,624 before the decline narrowed. In the a...
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<H Shrs>HSI Ends Up 75 Pts; Oil & Gas Stocks Thrive; TRIP.COM-S Up 9%
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The Hong Kong bourse displayed an ascending trend today. The HSI opened 134 pts lower and slid 174 pts in the early stage, bottoming at 17,624 before the decline narrowed. In the afternoon, it turned north and closed near the intraday high, up 75 pts or 0.4%, to 17,874; the HSCEI added 27 pts or 0.4% to 6,306; and the HSTECH dipped 1 pt or 0.05% to 3,501. The total turnover for the day was $91.923 billion.

Libya's suspension of oil supplies sparked a remarkable rebound in oil prices. CNOOC (00883.HK)  +0.320 (+1.762%)    Short selling $110.32M; Ratio 7.605%   and SINOPEC CORP (00386.HK)  +0.090 (+2.113%)    Short selling $99.59M; Ratio 16.869%   leaped 3.4% and 5.2%. PETROCHINA (00857.HK)  +0.040 (+0.714%)    Short selling $87.01M; Ratio 12.060%   ’s interim net profit grew 4%. The stock ended up 4.1%. Natural gas stock KUNLUN ENERGY (00135.HK)  +0.050 (+0.692%)    Short selling $5.15M; Ratio 16.559%   ’s interim net profit hiked 3% and resumed interim dividend, and the stock price soared 8.6%.

Pinduoduo (PDD.US)      warned that its high revenue growth was not sustainable and that it would not conduct buybacks or pay dividends in the next few years, causing its ADR to plummet by more than 28% overnight (26th). Hong Kong-listed e-commerce operators BABA-SW (09988.HK)  -0.450 (-0.541%)    Short selling $809.71M; Ratio 16.390%   and JD-SW (09618.HK)  -0.100 (-0.096%)    Short selling $97.12M; Ratio 20.159%   sagged 4% and 3.7%. Among other techs, TENCENT (00700.HK)  +2.200 (+0.590%)    Short selling $520.67M; Ratio 12.619%   fell 0.1% to $381.8, and MEITUAN-W (03690.HK)  +0.700 (+0.572%)    Short selling $727.44M; Ratio 20.482%   slumped 2.6% ahead of its results announcement tomorrow (28th).

TRIP.COM-S (09961.HK)  +1.400 (+0.380%)    Short selling $108.48M; Ratio 24.095%   ’s 2Q24 net profit leaped 5.07 times YoY, and its stock price jumped up 9%, making it the top gainer among blue chips. UBS said the company’s 2Q24 non-GAAP net profit was nearly 37% higher than expected, and the market was expected to respond positively. TONGCHENGTRAVEL (00780.HK)  -0.300 (-2.069%)    Short selling $22.50M; Ratio 20.639%   also swelled 6%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-09-13 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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