HSI +121pts (+0.5%) 25,867 HSCEI +93pts (+1%) 9,150 T/O HK$134.41bn (-19.1% DoD)
Opened slightly higher following the handover from Asia but sold down initially but now working better as UK inflation dipped but with caution ahead of the FOMC minutes. Travel & Liesure +VE.
Carlsberg +VE after raising FY guidance.
Construction Output Jun +2.8% YoY vs 12.2% May revised
Core Inflation Rate Final Jul +0.7% YoY vs +0.9% Jun (F/cast was +0.7%)
Inflation Rate Jul +2.2% YoY vs +1.9% Jun (F/cast was +2.2%)
Inflation Rate Jul -0.1% MoM vs +0.3% Jun (F/cast was -0.1%)
Inflation Rate Jul 2% YoY vs 2.5% Jun (F/cast was 2.4%)
Inflation Rate Jul 0.0 MoM vs 0.5% Jun (F/cast was 0.3%)
Core Inflation Rate Jul 1.8% YoY vs 2.3% Jun (F/cast was 2.1%)
Core Inflation Rate Jul 0.0 MoM vs 0.5% Jun (F/cast was 0.2%)
Retail Price Index Jul 0.5% MoM vs 0.7% Jun (F/cast was 0.3%)
Retail Price Index Jul 3.8% YoY vs 3.9% Jun (F/cast was 3.6%)
PPI Core Output Jul 3.9% YoY vs 3.1% Jun revised (F/cast was 3.1%)
PPI Core Output Jul 0.7% MoM vs 0.6% Jun revised (F/cast was 0.3%)
PPI Output Jul 4.9% YoY vs 4.5% Jun revised (F/cast was 4.4%)
PPI Output Jul 0.6% MoM vs 0.6% Jun revised (F/cast was 0.4%)
PPI Core Input Jul 9.9% YoY vs 9.7% Jun revised (consensus was 9.1%)
PPI Core Input Jul 0.8% MoM vs 0.5% Jun revised (consensus was 0.5%)
Opened Dow -50pts,s&P -0.1% and NDX -0.15%. Housing data and FOMC minutes ahead.
CHINA CSI 300 closed +57pt (+1.2%) @ 4,894
China looking to flatten incomes and address social disparity by focusing on developing the middle class as Presdient Xi stresses common prosperity. Future policy likely to address that aim.
CSI 300 opened higher and then tested down to 4,820 level, before working higher into lunch @ 4,870. PM the market worked higher to the day high 4,910 but failed to hold and sold down to the lunch level before working better into the close.
Financials, Industrials and Energy leading the gains. BBerg reports that local governments are looking to reduce debts +VE. Tech and Property remain weak.
Shanghai Composite +38pts (+1.1%) @ 3,485 T/O US$74,753 -4.6%DoD
Shenzhen Composite +104pts (+0.7%) @ 14,454 T/O US$102,326 -8.5% DoD
ChiNext Composite Index +29pts (+0.8%) @ 3,508
China's National Health Commission reported 28 confirmed COVID-19 cases yesterday (17th), with six of them being local infections (all recorded in Jiangsu).
Pre market opened @ 25,800 +54pts vs -119pts ADR’s. Market initially dipped on margin call selling after Tuesday’s sell off. Then rebounded and trended higher to test 25,950 then eased back into lunch @ 25,939. PM saw a small uptick to test 26,000 but failed to hold and trended lower for the rest of the afternoon to 25,800 but then ticked higher into the close and higher again in the closing auction. Regaining 15% of the the past 4 days losses.
Tencent +0.3% but a rollar coaster ride ahead of results which came out after market; 1H Net Income 90.35bn Yuan, Q2 Revenue in line with f/casts but key will be the conference call. After market MIIT said 43 of its apps violated data accessing.
WMGroup -11% as founders son writes the business has no real operation but worth noting he was recently fired for aggressive behaviour and company later responded saying untrue
Techtronics -5.3% off Tuesday’s record high after poor earnings from Home Depot in US
EARNINGS HK due Thursday includes: BEA(23) Baozun(9991) Bili(9626) BOC AV(2588) Unicom(762) CITIC SEC(6030) CNOOC(883) Citic Tel(1883) Ch Power(2380) ESR(1821) Hua Med(2552) Jinke(9666) Kerry(683)
Maoyan(1896) SciClone(6600) Sino Ocean(3377) Smoore(6969) Soho(410) Stella(1836) ZJ Express(576) ZTO(2057)
CHINA Hans Laser(002008) Ping An Bank(00001) Hengrui(600276)
HONG KONG DATA
HK reported 3 new covid cases.
Unemployment Jul 5% vs 5.5% Jun (F/cast was 5.5%)
Lowest since Q1 2020. Broad recovery in jobs +VE for the recovery.
SHORT SELLING Wednesday 15.9% vs 14.3% Tuesday
Top shorts Bud Apac (1876) 62%, Sunny Optical (2382) 43%, Shenzhou Int (2313) 41%, Country Garden (2007) 41%, MTR (66) 35%, CK Asset (1113) 34%, Bank of China (3988) 34%, Ping An (2318) 33%, Hang Lung Ppty (101) 33%, Ali Health (241) 33%, CCB (939) 30%, Henderson Land (12) 29%, HKEX (388) 29%, Hengan (1044) 27% (reported today), Haidilao (6862) 26%, Baba (9988) 25%, AAC Tech (2018) 25%, Xinyi Solar (968) 25%.
AFTER MARKET NEWS
SOLOMON SYSTECH (02878.HK) announced interim result ended June 2021. The revenue rose 27.7% year on year to US$74.828 million. The net profit amounted to US$10.71 million, up 143.1%. EPS was US0.43 cents. No dividend was declared.
NEW WORLD DEV (00017.HK) Short selling $17.58M; Ratio 16.451% announced that it has repurchased 500,000 shares on the Stock Exchange today (18th), involving $18.65 million.
SINO BIOPHARM (01177.HK) announced that the group’s profit attributable to the owners of the parent for the six months ended 30 June 2021 is expected to increase by over 500% as compared to the same period last year (profit attributable to the owners of the parent for the same period last year was RMB1.241 billion).
CK ASSET (01113.HK) Short selling $60.18M; Ratio 34.447% revealed that Li Ka Shing Foundation Limited acquired a total of 1.516 million shares in CK Asset at the average price of HK$51.4717, HK$51.5467, HK$52.042 and HK$51.8886 per share on 12 August, 13 August, 16 August and 17 August 2021 respectively. As a result, the deemed interests of Li Ka-shing, Victor T K Li and Li Ka Shing Foundation Limited in CK Asset under the Securities and Futures Ordinance are as follows: Li Ka-shing's stake increased from 45.74% to 45.78%; Victor T K Li's increased from 45.8% to 45.85%; Li Ka Shing Foundation Limited's increased from 11.02% to 11.06%.
Li Huaqiang, head of the transportation service department of the Ministry of Transport (MOT), found it necessary to standardize the operation and behavior of platform companies.
Equally, ride-hailing platforms are asked to regulate their own pricing behavior and lower their excessive commission rates. Li also suggested these platforms cap their commission rates through stronger communication and negotiation with drivers.
TENCENT (00700.HK) Short selling $742.72M; Ratio 6.409% announced the interim results for the six months ended 30 June 2021. The non-IFRS net profit for period amounted to RMB67.157 billion, up 17% YoY, in line with estimates. Interim net profit grew 45.7% YoY to RMB90.354 billion, ahead of estimates. Basic EPS was RMB9.492. No dividend was declared.
Results for the second quarter ended 30 June 2021. The non-IFRS net profit for the period rose 13% to RMB34.039 billion. 2Q Net profit amounted to RMB42.587 billion, up 29% YoY. was RMB3.574.
It said in the result announcement that it sought to pioneer a healthy game playing environment in the game industry. In August, it further tightened the game time and spending limits for Minors in China, beyond regulatory requirement. For Honour of Kings and Peacekeeper Elite, TENCENT reduced Minors’ daily game time limit to 1 hour on non-statutory holidays and to 2 hours on statutory holidays, versus regulatory requirement of 1.5 hours and 3 hours respectively. During the second quarter of 2021, players aged under 16 accounted for 2.6% of its China game grossing receipts, revealed TENCENT. Among which, players aged under 12 accounted for 0.3%.
Hema Market under BABA-SW (09988.HK) Short selling $1.00B; Ratio 25.112% 's MMC business group has signed a direct purchase agreement for yellow croakers with Ningde city, with aim to upgrade the croaker logistic chain, ensuring that sealed croaker packages can be delivered to smaller community shops across the country within 24 hours in a transportation environment of minus 18 degrees.
EVERGRANDE (03333.HK) Short selling $72.02M; Ratio 24.661% has recently been in choppy waters, with its Emerald Bay Phase 2 in So Kwun Wat failing to secure the Certificate of Compliance, reported Hong Kong Economic Journal. The project delivery is thus delayed until mid-September.
China's Ministry of Commerce (MOC) openly sought opinions on the regulation and management of live streaming electronic commercial platforms, with several opinions suggesting that the behavior of tipping the live streaming hosts ought to be regulated and managed in accordance with the factors such as hosts' content, payment model, users' age, etc.. Accounts breaching relevant regulations should be punished by temporary or permanent suspension from streaming.
* ENERGY COMPANIES FIRM buying interest as defensive plays, while prospect for energy providers' green-energy shift are attracting investors' interests. CNOOC (883 HK +2.4%) PETROCH (857 HK +0.6%) KULUN (135 HK +1.8%) SINOPEC (386 HK +0.5%).
* E-COMMERCE/INTERNET MIXED as sentiment remained depressed amid regulatory concerns, after China's State Admin for Market Regulation revealed a set of draft regulations banning unfair competition and restricting the use of user data. ALIBABA (9988 HK -0.1%) TECENT (700 HK +0.3%) MEITUAN (3690 HK +2%) BILIBILI (9626 HK +3%) JD (9618 HK +1.4%).
* HK PROPERTY FIRM saw support as home prices stay firm. CK ASSET (1113 HK +0.7%) won the tender for a 50-year land grant at a premium of HK$716m (USD92m), outbidding others other major developers. CKA plans to develop low density, 2-storey houses on the 15,208 sq m site. KERRY PROP (683 HK +1.3%), SINO LAND (83 HK +0.2%) and MTRC will soon release the sales brochure of 600 units at La Marina at Wong Chuk Hang Station. SHKP (16 HK +2%) has released the third price list of Wetland Seasons Bay located in Tin Shui Wai, which consists of 215 flats, with an average price of HK$15,018 per sq ft.
* CHINA PROPERTY FIRM led higher by developers in the Greater Bay Area, after SHENZHEN INVESTMENT (604 HK +4.6%) expects 1H net profit to jump roughly 300% YoY, primarily attributable to the satisfactory delivery of the Group’s property development projects and the sales recognised from major projects. AGILE PROP (3383 HK +4.4%) GZ R&F (2777 HK +2%) COUNTRY GARDEN (2007 HK +1.8%).
India will be closed Thursday
Market opened lower (7,470) but quickly rebounded to 7,532 and then eased back to trade around flat and traded around there for the rest of the session to close -9pts (-0.1%) @ 7,502
Earnings from Amcor, Coles, Dominos, Tabcorp, Vicinity Centres, Pro Medicus, Pact Group, and Nearmap amongst others.
Laggards were BHP despite good results the propsosal to just have an Australian primary listing seen as -VE and CSL good earnings but CEO warned profit margin under threat next year.
Leaders Financials, Telstra, along with good earnings from Pro Medicus, Domino’s Pizza, Amcor, Vicinity Centres, Pact Group, Southern Cross Media, and Globe International. Heading the other way were Woodside Petroleum, Tabcorp, Fletcher Building, Netwealth, Super Retail Group, Corporate Travel, and Bapcor.
Leading Index Jul -0.12% MoM vs -0.07% Jun (F/cast was +0.2%)
Wage Price Index Q2 +1.7% YoY vs +0.6% Q1 (F/cast was +2%)
Wage Price Index Q2 +0.4% QoQ vs +1.5% Q1 (F/cast was +0.5%)
Turnover improved but light. Pre market data saw the trade balance beat despite weak exports and imports. Machinery orders beat
Nikkei opened lower dipped to 27,400 bounced to 27,440 sold down to 27,350 before bouncing back and climbing through the morning session. PM opened higher but drifted lower to close +161pts (+0.6%) @ 27,586
Softbank +0.8% rebounded from an intial 11mth low; announced that it had sold $14bn of US tech stocks last qtr.
Toyota -0.3% despite announcing increasing 2021 output by 5%.
Leaders Textile/Apparel, Construction, Services, Pharma
Laggards Shippers, Iron/Steel, Property, Machnery.
Topix traded in a similar pattern to close +8pts (+0.4%) @ 1,924
Balance of Trade Jul ¥441B vs ¥383.2B Jun (F/cast was ¥300B)
Exports Jul 37% YoY vs 48.6% Jun (F/cast was +45%)
Imports Jul 28.5% YoY vs 32.7% Jun (F/cast was +32%)
Machinery Orders Jun 18.6% YoY vs 12.2% May (F/cast was +15.5%)
Machinery Orders Jun -1.5% MoM vs +7.6% May (F/cast was +3%)
KDCA announced 1,805 new covid cases (+432 DoD). Market broke its 7 day down streak but still below the 120 day MA and on low volume. Foreigners still selling but locals buying across most sectors. KRW strengthened to 1168; on BoK warning.
SK Hynix +2.5% CEO disagrees with premise of weak chip price outlook from Q4; thinks it will remain firm on 5G demand
Tech +VE along with Steel but Pharma slight -VE on rotation after recent strength. Textile seeing interest as in Japan.
Kakao Bank -3.3% post results gave up initial gains; valuation concerns. Samsung Heavy +1.9% on rights offer, SKT +0.7% spin off in Nov.
Kospi opened flat ticked higher initially and then lower before trending higher to 3,172 at midday. Then traded sideways before a slight easing into the close +16pts (+0.5%) @ 3,159
Kosdaq traded in an initially similar pattern but then traded sideways around 1,020. Closed +10pts (+1%) @ 1,021
Taiex opened lower and trended down to test 16,400 level around 10am and then worked better with resistance at 16,800 to close +165pts (+1%) @ 16,827
All sectors closed in the green except Energy and Utilities which closed lower.
T/O was US$14.99bn vs US$10.63 bn Tuesday
CECC reported 11 new covid cases (5 imported)
TSMC (TSM.US) has its market cap toppled TENCENT (00700.HK) to become Asia’s most valuable company, reported CNBC. In the Asian morning market today, TSMC's market value was more than US$538 billion, beating TENCENT's US$536 billion, according to Refinitiv Eikon's data. BABA-SW (09988.HK) ranked third with US$472 billion valuation. TSMC’s share price was boosted by the global chip woe, by rising more than 6% this year so far. Meanwhile, the market value of TENCENT and BABA-SW fell in wake of the impact of antitrust measures in China.
Northbound RMB 59,878m Sell 28,671m vs 31,207m Buy
Southbound HK$ 16,830m Sell 8,338m vs 8,492m Buy
Northbound RMB 69,341m Sell 34,222m vs 35,119m Buy
Southbound HK$ 14,552m Sell 7,135m vs 7,417m Buy
PING AN (02318.HK) Short selling $706.61M; Ratio 33.034% closed at $69.25, up 3%
MEITUAN (03690.HK) Short selling $623.08M; Ratio 10.422% closed at $218.2, up 2.2%
HKEX (00388.HK) Short selling $481.67M; Ratio 28.610% closed at $482.4, up 1.6%
AIA (01299.HK) Short selling $499.60M; Ratio 16.929% closed at $97.5, up 0.6%
TENCENT (00700.HK) Short selling $742.72M; Ratio 6.409% closed at $436.2, up 0.3%
BABA (09988.HK) Short selling $1.00B; Ratio 25.112% closed at $171.6, down 0.1%
HSI & HSCEI Constituents on Move:
WH GROUP (00288.HK) Short selling $54.62M; Ratio 5.132% closed at $5.95, down 11.3%
XINYI SOLAR (00968.HK) Short selling $235.78M; Ratio 24.799% closed at $15.74, up 6.5%
CM BANK (03968.HK) Short selling $634.90M; Ratio 32.761% closed at $67.6, up 5.8%
TECHTRONIC IND (00669.HK) Short selling $179.46M; Ratio 13.136% closed at $163.7, down 5.3%
CHINA RES BEER (00291.HK) Short selling $112.73M; Ratio 8.808% closed at $64, up 4.8%
HANSOH PHARMA (03692.HK) Short selling $20.69M; Ratio 26.285% closed at $25.9, up 4.6%
HANG LUNG PPT (00101.HK) Short selling $22.74M; Ratio 32.949% closed at $21.5, up 4.1%
HAIDILAO (06862.HK) Short selling $96.66M; Ratio 25.916% closed at $28.8, down 3.8%
SHIMAO GROUP (00813.HK) Short selling $16.98M; Ratio 12.165% closed at $16.66, up 3.3%
HENGAN INT'L (01044.HK) Short selling $73.41M; Ratio 27.093% closed at $43.45, down 3%
HSMI & HSSI Constituents on Move:
GF SEC (01776.HK) Short selling $33.54M; Ratio 4.806% closed at $14.74, up 13.2%, hitting new high
NEXTEER (01316.HK) Short selling $27.15M; Ratio 9.830% closed at $9.14, down 11.3%
DFZQ (03958.HK) Short selling $22.51M; Ratio 2.528% closed at $8.59, up 10.8%, hitting new high
SUNLIGHT REIT (00435.HK) Short selling $153.80K; Ratio 0.750% closed at $5.01, up 4.4%, hitting new high
CHINA WATER (00855.HK) Short selling $1.48M; Ratio 4.503% closed at $6.81, up 3.7%, hitting new high
RESULTS at lunchtime
CHINA RES BEER(00291.HK) Short selling $42.76M; Ratio 9.111% announced interim result ended June 2021. The turnover rose 12.8% year on year to RMB19.634 billion. The net profit amounted to RMB4.291 billion, up 106.4% year on year. EPS was RMB1.32. An interim dividend of RMB0.264 was declared, against a dividend of RMB0.128 in the year-ago period.
GEELY AUTO (00175.HK) Short selling $132.40M; Ratio 17.357% released the interim results for the six months ended 30 June 2021. The revenue hiked 22.3% yearly to RMB45.032 billion. The net profit added 3.7% yearly to RMB2.381 billion, in line with the lower end of brokers' forecast as compiled by our reporters at RMB2.3-3.666 billion. EPS was RMB23.60 cents. No dividend was declared. Gross margin ratio in the first half of 2021 was relatively stable as the impact from higher raw materials costs was largely offset by improving product mix. The Group sold a total of 630,200 units of vehicles in the first half of 2021, up 19% YoY.
HENGAN INT'L (01044.HK) Short selling $19.36M; Ratio 32.349% announced the interim results for the six months ended 30 June 2021. The net profit for the period amounted to RMB1.86 billion, down 17.7% YoY. EPS was RMB1.574. An interim dividend of RMB1 was declared, against a dividend of RMB1.2 for the corresponding period of previous year.
MARKET HOURS NEWS
Ministry of Industry and Information Technology (MIIT) laid out APPs that misused users' contact lists and location information as well as disturbed them with pop-up windows. The 43 not-on-par APPs should be rectified by 25 August, MIIT said; if the rectification is not made on time or thoroughly, MIIT will deal with such cases upon laws and regulations. The problematic APPs involved TENCENT (00700.HK)'s Tencent Video, Tencent Maps, WeChat; Ctrip; iQiyi; and Suning.com (002024.SZ) .
CHINA RES BEER (00291.HK) has set forth the plan to rationalize product prices across the nation next three months, said Chief Executive Officer Hou Xiaohai. The brewer aims to adjust prices of some significant products to completely offset this year's raw material and packaging cost hike. Equally, Hou expected domestic brands to remain as the mainstay of future beer premiumization.
Hong Kong economy achieved a robust growth of 7.8% over 1H, but the private spending and overall investment sentiment are only beginning to recover, remarked Vishrut Rana, Asia-Pacific region economist at S&P Global. In terms of sectors, S&P Global regards imports/exports, financials and insurances as main drivers, as the relevant sectors contributed 85% of the economic growth in 1Q21. Rana expressed that the $5,000 electronic consumption vouchers scheme launched by the government is expected to serve as a massive support for local spending and demand, with the potential of driving the private spending in 2H to an even higher level compared to 1H. When asked about the impact of the emigration wave in Hong Kong, Rana contended that it may have certain ramifications on the potential economic growth and predicted the labor force of Hong Kong to shrink in coming ten years.
GEELY AUTO (00175.HK) Short selling $132.40M; Ratio 17.357% has just unveiled the interim results. In which, it revealed that in view of the Company’s business decisions and strategic adjustments, after careful studies and discussion with the professional parties involved in the Proposed RMB Share Issue and as considered and approved by the Board in the Board meeting, the Company decided to withdraw the application for the Proposed RMB Share Issue on the Sci-Tech Board.Thanks to the healthy business operation of the Group, withdrawing the application for the Proposed RMB Share Issue on the Sci-Tech Board would not give rise to any material adverse impact on the financial position or operation of the Group. When the relevant conditions are met, the Company would actively promote the listing work of Renminbi share issuance.
Starting today (18 August), ordinary travelers from Hong Kong to Shenzhen must hold a hard copy of their negative NAT results within 24 hours and issued by testing institutions recognized by governments in Guangdong and Hong Kong, announced the Office of Port of Entry and Exit of Shenzhen Municipal People's Government.
Upon entry, visitors shall undergo a 14-day quarantine and medical observation as well as a 7-day home health monitoring.
SoftBank Group liquidated its stakes in several listed companies that worth around USD14 billion in total last quarter, nearly 3x the amount for the corresponding period of previous year, as the group expedited its investment pace in technology start-up companies, reported Bloomberg. In the quarter ended June, SoftBank sold shares in Facebook (FB.US), Microsoft (MSFT.US), Alphabet (GOOGL.US), Salesforce.com (CRM.US) and Netflix (NFLX.US), cashing out of more than US$6 billion; and about US$4 billion from the sale of part of the shares of Uber (UBER.US) and DoorDash (DASH.US).
Tencent Video filed a lawsuit against Douyin for copyright infringement and unfair competition after the latter's unauthorized re-uploading and editing of the smash-hit TV series "Crime Crackdown", reported 21st Century Business Herald. The Beijing Intellectual Property Court was said to have accepted the case on 17 August. Accordingly, Tencent Video is asking Douyin to pay RMB100 million on economic loss and expenses incurred by rights defending.
Overnight HIBOR last posted at 0.04911%, logging a 1-month high, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.07804%.
BIDU-SW (09888.HK) Short selling $60.56M; Ratio 25.077% 's founder and CEO Robin Li announced today to launch the company's unmanned vehicle mobility service platform "Luobo Kuaipao", in hope to further promote driverless mobility service to the general public. Li remarked that the company expects the service to cover 30 cities within the coming three years.
Former WH GROUP (00288.HK) Executive Director Wan Hongjian wrote an article to blast his father Wan Long, the company's Chairman, of allegedly lining his own pockets and evading tax. Upon the news, the company's stock price once tumbled 10.9% to bottom at $5.98. It last stood at $6.1, down 9%, on volume of 92.86 million shares and turnover of $582 million. Wan Hongjian conceded that WH GROUP is doing no real business, and its only purpose is to transfer money made by Shuanghui in China out to overseas stealthily by all tricks and complicated structure. Wan Hongjian also accused his father of forcing half-priced deal with a staff-held company to pocket over $5 billion, while on the other hand, sharing the money with his secretary as self-award at the excuse of successful acquisition of Smithfield Foods. Worth noting that Wan Hongjian was fired from the company recently for aggressive behaviour.
Later the company issued a clarification announcement, saying that the Board has noted the recent decrease in the price and increase in trading volume of the shares of the Company, and has also noted certain media reports regarding allegations made by Wan Hongjian against the Group. The Board clarifies that the allegations are untrue and misleading. The Company reserves its right to take legal actions against Wan Hongjian or those responsible for the allegations.
Chinese Ministry of Finance, the biggest shareholder of CHINA HUARONG (02799.HK) , intends to transfer its entire holdings to CITIC Group, Bloomberg citing insiders. Meanwhile, CITIC and other strategic investors plan to inject around RMB50 billion in capital to CHINA HUARONG for replenishment. The final proposal may be revealed as soon as this week, the people added.
U.S. Republican Senator Marco Rubio urged President Biden to ban TikTok from operating in the U.S. as the Chinese government has been reported to be holding a 1% stake and a position in the board of directors in Beijing ByteDance Technology -- a key subsidiary of ByteDance in China.
HSBC announced that the bank has extended the strategic cooperation with Hong Kong Science and Technology Parks Corporation (HKSTP) for the new "SPRINTER 2" program, facilitating SMEs in logistics, construction and related services fields in Hong Kong to expedite their technological application. The program welcomes the participation of companies which dabble in freight, transportation, construction, real estate and property management.
After winning the residential site at the junction of Lau Yip Street and Chung Yip Road, Yuen Long at $716 million, CK ASSET (01113.HK) Short selling $25.97M; Ratio 33.032% said the group plans to develop boutique residence at the site, where the density is low with distinctive land conditions. The entire parcel is intended to erect two-storey garden houses.
PRE MARKET NEWS
BABA-SW (09988.HK) Short selling $482.98M; Ratio 26.064% offloaded 595,700 shares of Groupon, Inc. (GRPN.US) in the first quarter and sold its entire Groupon position in the following quarter, according to the U.S. Securities and Exchange Commission. BABA-SW still holds 10 million Bilibili Inc. (BILI.US) shares with a market cap of US$1.218 billion as of the second quarter, representing 57% of its US$2.136-billion investment portfolio.
PRU (02378.HK) is mulling to roll out available shares to institutions and individual investors of Hong Kong in a global sales, with the aim to raise USD2.5-3 billion. Citigroup, Goldman Sachs, HSBC and other banks are in preparation for the issuance of relevant shares, and the issuance could be carried out by September at the earliest, reported IFR under Reuters, citing sources.
NEW ORIENTAL-S (09901.HK)'s vice president Li Liang expressed that the company has been endeavoring to lighten the extracurricular burdens of students since the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued the "opinions" on reducing the students' burdens, while adhering to the requirements of the Chinese government in terms of syllabus, lesson length, fund supervision and refund policy, etc., reported Chinese media. Li further remarked that the company will offer unconditional refund to the students who have registered but not yet commenced their relevant classes.
EVERGRANDE (03333.HK) Short selling $32.53M; Ratio 24.133% Vice Chairman and President Xia Haijun unloaded 3 million EVERG VEHICLE (00708.HK) shares on 11 August, pocketing $42.5355 million, according to HKEX's Disclosure of Interests. His shareholding in EVERG VEHICLE dropped from 0.15% to 0.12% afterwards. Xia also dumped 10 million EVERG SERVICES (06666.HK) shares on the same day, cashing in $73.026 million. His shareholding in the company fell from 0.61% to 0.51% afterwards.
The Cyberspace Administration of China has completed the cyber security probes into Didi Chuxing, reported South China Morning Post, citing sources. Didi has been modifying the data management system of its application according to the regulatory requirements, in order to mend the technical flaws suggested by the investigators. As some of its business are required to undergo reform, several departments at the ride-hailing company have lowered the result targets for this year.
STANCHART (02888.HK) announced that it has repurchased 1.267 million shares yesterday (17th), at a weighted average price of GBX451.6471 per share, involving GBP5.7224 million.
BABA-SW (09988.HK) Short selling $482.98M; Ratio 26.064% 's auction platform has launched a new section through the blockchain platform under the Sichuan Blockchain Association Copyright Committee, reported SCMP. Accordingly, writers, musicians, artists and game developers can sell the rights to their works via the platform. The platform already has non-fungible tokens (NFTs) registered and ready for auction next month, including a Star Wars illustration. Each auction will start at the base price of US$15.
Hong Kong government gazetted directions and specifications to maintain most of the social distancing measures currently in place. The directions and specifications will take effect at 0.00am on August 19 for a period of 14 days till September 1. The government added that taking into account the risk involved in the operation of catering business, especially the fact that customers within the premises are consuming food or drinks hence mask-off most of the time, it will tighten the testing requirement for staff of catering businesses which adopt Type B Mode of Operation with effect from August 26. The staff will be required to undergo more frequent testing, from the current requirement of testing once every 14 days to testing once every seven days.
The government announced that the boarding, quarantine and testing requirements for persons arriving from overseas will be tightened from 0.00am on August 20, in view of the developments of the global COVID-19 epidemic situation and the latest expert recommendations. For travellers arriving at Hong Kong who had stayed in medium-risk places, their compulsory quarantine periods could at most be shortened to 14 days if they hold recognised vaccination record, the government added. The government will also enhance testing arrangements. The number of post-arrival tests for relevant groups will be increased to at least six times during the quarantine and self-monitoring periods, and the final compulsory test after the completion of quarantine must be conducted in Community Testing Centres (CTCs).
Shijiazhuang's traffic and transport bureau announced to summon those in charge of DiDi, MEITUAN-W (03690.HK), Cao Cao Mobility and other ride-hailing platforms operating in the city by batches. First of all, these companies will be asked to earnestly fulfil their responsibility and run their operation according to law and standard. Secondly, ride-hailing platforms must not impede fair market competition by giving out discounts and coupons. Particularly, they shall not disturb the normal market order by operating at prices below their costs.
State Administration for Market Regulation (SAMR) has approved Ping An Life Insurance's stake acquisition proposal on the New Founder Group, according to the list of Unconditionally Approved Cases of Concentration of Undertakings on 9-15 August.
Founder Securities (601901.SH) announced early last month that Ping An Life Insurance is scheduled to become a new controlling shareholder of New Founder Group.
Tesla's gigafactory in Shanghai will reach a localization rate of around 90% by the end of this year, reported Xinhua Finance, citing Yuan Guohua, deputy secretary of the Party Working Committee of the Lingang New Area of the Shanghai Pilot Free Trade Zone.
The EV maker's gigafactory is forecast to produce as much as 450,000 units of vehicles throughout this year and is expected to propel and enhance the NEV industry chain of the Lingang New Area.
The Chinese government accentuated in its Draft Family Education Promotion Law that family education guidance service providers should not organize or disguise to organize any profit-making education and training courses, as Xinhua News Agency learnt from the Standing Committee of the National People's Congress. Such emphasis means that the authority intends to forbid profit-making educators to exploit advantages in family education.
SH ELECTRIC (02727.HK) Short selling $3.32M; Ratio 8.977% announced that the company was granted approval to transfer the 80.59% equity interest it held in SEIET to SEC, the controlling shareholder of the company, at a consideration of RMB1.957 billion. The equity transfer is expected to result in a gain of approximately RMB568 million for the company.
CSPC PHARMA (01093.HK) Short selling $52.40M; Ratio 25.296% announced that NovaRock, a subsidiary of the Company, has entered into a strategic partnership and license agreement with Flame Biosciences, an innovative pharmaceutical company based in the United States. Under which, NovaRock shall grant Flame Biosciences the exclusive rights to develop, manufacture and commercialize its fully human anti-Claudin 18.2 monoclonal antibody (NBL-015) outside of Greater China (including China, Hong Kong, Macau and Taiwan)
CKH HOLDINGS (00001.HK) Short selling $17.49M; Ratio 25.473% 's statement disclosed that on August 17, the company repurchased its 350,500 shares on the Stock Exchange at a price ranging $57.7-58 per share, involving a total of approximately $20.3 million.
NEXTEER (01316.HK) unveiled the interim results for the six months ended June 30, 2021. The net profit was US$83.14 million, up 62.9 times yearly. EPS was US3.3 cents. No interim dividend was declared.