HSI +190pts (+0.7%) 26,354 HSCEI +97pts (+1%) 9,468 T/O HK$144.82bn (-1%)
Markets opened and are trading slightly lower, Eurozone data was slightly +VE. Construction and material stocks shedding 0.4% while telecoms gained 0.7%.
Employment Change Q2 +0.7% QoQ vs -0.2% Q1 (F/cast was +0.5%)
Employment Change Q2 +1.8% YoY vs -1.8% Q1 (F/cast was +1.8%)
GDP Growth Rate Q2 +2.2% QoQ vs -0.3% Q1 (F/cast was +2%)
GDP Growth Rate Q2 +14.3% YoY vs -1.2% Q1 revised (F/cast was +13.6%)
ZEW Economic Sentiment Index Sept 31.1 vs 42.7 Oct (F/cast was 30)
Industrial Production Jul +1% MoM vs -1% Jun (F/cast was +1%)
ZEW Economic Sentiment Index Sept +26.5 vs +40.4 Oct (F/cast was 29)
ZEW Current Conditions Sept 31.9 vs 29.3 Oct (F/cast was 30)
Halifax House Price Index Aug +7.1% YoY vs +7.6% Jul (F/cast was +7.3%)
Halifax House Price Index Aug +0.7% MoM vs +0.4% Jul (F/cast was +1%)
BBA Mortgage Rate for Aug due
Opened Dow +82pts, S&P +0.21% and NDX+0.31%
CHINA CSI 300 closed +59pts (+1.2%) @ 4,993
Market opened lower and sold down to 4,916 before finding support but then rallied to 4,947 before pulling back to flat. Choppy trading ahead of the trade data which was better than forecast but may not reflect the most recent covid surges and could mean less Govt stimulus. PPI and Inflation due later this week. PM the markets opened higher but saw resistance around 5,000 level.
CRRC Times (688187) +83% on Star Board debut but H share was -12%
Qianhai Zone related names in focus as China announced expanding the zone and further integrate it with the HK and Macau economies.
Brokers & Banks continue to see good interest. North Bound flows driving the rally.
PBOC drained a further Rmb40bn in Open Mkt Ops.
Shanghai Composite +55pts (+1.5%) @ 3,677 T/O US$94,922bn +1% DoD
Shenzhen Composite +156pts (+1.1%) @ 14,703 T/O US$116,011bn -4% DoD
ChiNext Composite Index +28pts (+0.8%) @ 3,554
Event Survey Actual Prior
Trade Balance CNY Aug 346.30b 376.31b 362.67b
Exports YoY CNY Aug 8.40% 15.70% 8.10%
Imports YoY CNY Aug 18.50% 23.10% 16.10%
Trade Balance Aug $53.20b $58.34b $56.58b
Exports YoY Aug 17.30% 25.60% 19.30%
Imports YoY Aug 26.90% 33.10% 28.10%
Foreign Exchange Reserves Aug $3.2tn $3.232tn $3.227tn
Pre market opened @ 26,207 (+44pts) and market worked better through the morning to 26,443 just after the better than expected China Trade Balance before easing back into lunch. PM opened higher and worked higher but resistance at 26,460 and then eased lower to close @ 26,354
Ecommerce names seeing good buying interest and have rebounded with many thinking the regulatory/policy changes are now known. Chinese developers still weak as Evergrande -7.6%sees its a broker cut its price target and Moody’s cuts its rating to Ca from Caa1 putting further pressure on the company.
News headline that HK to allow quarantine free access for mainland visitors from Wednesday; should be +VE for Retail names.
HONG KONG DATA
HK reported 6 new covid cases; all imported.
Foreign Exchange Reserves Aug vs 494.8b
After Market News
At the 1st China Digital Carbon Neutrality Summit in Chengdu, PING AN (02318.HK) laid out its five-year target (from now on till 2025) to move up green investment plus credit to RMB400 billion, and green insurance premiums to RMB250 billion, National Business Daily reported.
HK TECH VENTURE (01137.HK) announced that, over August, it has achieved HK$633 million GMV on order intake, up 11.8% MoM; an average daily order number of 42,700 orders, up 5.2% MoM; and 549,000 unique customers whom made purchases at HKTVmall, up 13.9% MoM, with all 3 key parameters becoming new record high at HKTVmall.
Christina Choi, Executive Director of Investment Products Division at Securities and Futures Commission (SFC), expressed during a webinar that Hong Kong’s asset and wealth management business maintained strong growth last year and recorded a 21% year-on-year increase in assets under management to USD34.93 trillion as at the end of 2020.
Choi stressed that, in hope to strengthen the city’s position as a capital raising hub and premier asset and wealth management centre, both the Hong Kong government and the SFC are keen to promote REITs and develop Hong Kong as a vibrant REIT market in Asia. The SFC has also been actively involved in the government’s taskforce on introducing a new unified profits tax regime for funds to provide profits tax exemptions to eligible onshore and offshore funds alike, Choi added.
Foreign banks and insurers have kept ramping up their investments in Mainland China, mentioned China Banking and Insurance Regulatory Commission (CBIRC). Since 2020, JPMorgan, Barclays, The Bank of New York Mellon, and Fubon Bank (China) have respectively boosted capital of RMB1.5 billion, RMB710 million, RMB600 million, and RMB345 million to their Chinese institutions.
Asked about online platforms' financial business rectification, CBIRC's spokesperson said they are running thorough self-checks and formulating rectifying plans in compliance with laws, rules and regulatory requirements. These platforms will carry out rectification in an orderly manner. Equally, online platforms have achieved certain progress and results in bolstering consumer rights protection.
Equally, online platforms have achieved certain progress and results in bolstering consumer rights protection.
There were five continuous slides in China's real estate financing as of end-July, said China Banking and Insurance Regulatory Commission (CBIRC). Firstly, the country's property loan growth set an eight-year low.
Secondly, property loan concentration declined for the 10th straight month. Thirdly, the REIT scale had been dwindling since June 2019.
Fourthly, the size of non-standardized real estate assets from wealth management products had been shrinking for almost a year.
Lastly, bankers' real estate inputs through SPV decreased for the 18th straight month.
HUTCHMED (00013.HK) announced that new analyses and updates on the ongoing studies of amdizalisib (HMPL-689), savolitinib and fruquintinib will be presented at the upcoming 2021 European Society for Medical Oncology (ESMO) Virtual Congress taking place on September 16-21, 2021.
Macau's Secretary for Economy and Finance, Lei Wai Nong, expressed that the development of Guangdong-Macao Intensive Cooperation Zone in Hengqin marks a new page in Macau's history and could aid the city in diversifying its industries, reported Zhuhai Special Zone Daily. Lei added that, if the cooperation zone grants the Macau government ample room and policy support, Macau will concentrate on developing the bond market, wealth management and financial lease segments, so as to accelerate the development of the modernized financial sector.
SHORT SELLING Tuesday 17.5% vs 11.3% Monday
Top shorts CK Assets (1113) 41%, MTRC (66) 38%, Techtronic (669) 37%, Bank of China (3988) 36%, AIA (1299) 34%, Hengan (1044) 34%, WH Group (288) 34%, ICBC (1398) 33%, CM Bank (3968) 32%, Haidilao (6862) 32%, Wharf REIC (1997) 28%, Hang Seng Bank (11) 27%, New World Dev (17) 27%, Ali Health (241) 26%, Henderson Land (12) 26%, Bud Apac (1876) 26%, Shenzhou (2313) 26%, CCB (939) 25%.
Market opened and initially traded around flat; with weak Service Index, a number of companies going Ex Div Plus caution ahead of the RBA rate decision. Oil and Iron Ore prices lower. It then sold down to 7,488 at midday before working better but saw resistance at 7,520. It then dipped to 7,500 before rallying into the close after the RBA kept rates unchanged but committed to proceed with tapering. A$ fell on the news. ASX200 closed -2pts @ 7,530
Leaders Health stocks like CSL and Cochlear and gaming names Aristocrat and Tabcorp
Laggards Blue-chip miners and banks are lower
Data out pre market Services Index Aug 45.6 vs 51.7 Jul (F/cast was 53)
Later Building Permits Jul -8.6% MoM vs -5.5% Jun (F/cast was -8.6%)
RBA left Interest Rate unchanged but reduced bond buying programme
Positive sentiment with Kono seen as the prime candidate to replace PM Suga. Nikkei rebalance stocks helping but seeing some rotation out of recent outformers (Shippers -1.2% today were +8% Monday).
Leaders Rail, Chems, Oil/Coal, Electric Applicances
Laggards Shippers, Food, Iron/Steel, Machinery, Trading Co’s
Nvidia facing opposition from EU over the Arm acquisition which could be -VE Softbank but Softbank +9.9% on news of deal with Deutsche Telecom.
Nippo Corp locked limit up on news it will be taken private.
Nikkei opened higher and broke above 30,000 in early trades but then eased back to traded around 29,900 going into lunch. Opening after lunch around that level and traded sideways around 29,900 to close +256pts (+0.9%) @ 29,916
Topix traded in a similar pattern; closed +22pts (+1.1%) @ 2,063 Closed at a 31year high.
Household Spending Jul -0.9% MoM vs -3.2% Jun (F/cast was +1%)
Household Spending Jul +0.7% YoY vs -5.1% Jun (F/cast was +2.7%)
Ave Cach Earnings Jul +1% vs +0.1% Jun (F/cast was +0.7%)
Foreign Exchange Reserves Aug $1424.3b vs 1386.5b July
Coincident Index Jul 94.5 vs 94.6 Jun revised (F/cast was 94)
Leading Economic Index Jul 104.1 vs 104.6 Jun revised (F/cast was 103)
KDCA reported 1,597 new covid cases. Foreigners and Local Institutions selling broad weakness with continued rotation into Steel, Chems, Apparel and Solar. Aluminium names rallied again. Overall T/O was light.
Kospi opened lower and trended down to 3,180 before seeing support. Then traded sideways 3,180/190 but did briefly dip to 3,177 but then worked better to close -16pts (-0.5%) @ 3,187
Kosdaq opened higher but sold down to 1,050 before finding support, saw a short term bounce retested 1,050 before working higher back to flat then back to 1,050 before rallying to close +2pts (+0.1%) @ 1,054
Taiex opened higher but sold down to 17,400 before finding support. Then traded sideways 17,400/470 to close -66pts (-0.4%) @ 17,429
T/O wasUS$12.12bn vs US$13.53bn Monday
TSMC maybe planning to expand its local investment in Taiwan and is considering to build six factories in Kaohsiung, mainly as the production base for 7 nm process, reported Taiwanese media. The industry estimated that the total investment could reach as high as few hundreds billions of TWD.
CECC reported 12 new covid cases (4 imported)
Wholesale Price Aug 11.88% YoY vs 11.77% Jul (F/cast was 12%)
Balance of Trade Aug $3.48b vs 5.9b Jul (F/cast was 6.3b)
Exports Aug 26.9% YoY vs 34.7% Jul (Cnsensus was 23.55%)
Imports Aug 46.3% YoY vs 41% Jul (Concensus was 29.4%)
Inflation Rate Aug 2.36% vs +1.95% Jul (F/cast was 2.1%)
Northbound RMB 63,870m Sell 30,138m vs 33,732m Buy
Southbound HK$ 14,157m Sell 6,645m vs 7,512m Buy
Northbound RMB 70,159m Sell 33,842m vs 36,317m Buy
Southbound HK$ 19,322m Sell 8,061m vs 11,260m Buy
MEITUAN (03690.HK) +10.000 (+4.042%) Short selling $1.25B; Ratio 13.595% closed at $257.4, up 4%
TENCENT (00700.HK) +10.500 (+2.079%) Short selling $2.00B; Ratio 15.497% closed at $515.5, up 2.1%
BABA (09988.HK) +2.000 (+1.190%) Short selling $640.46M; Ratio 15.565% closed at $170, up 1.2%
HKEX (00388.HK) +5.000 (+1.004%) Short selling $348.66M; Ratio 23.625% closed at $503, up 1%
PING AN (02318.HK) +0.500 (+0.823%) Short selling $246.24M; Ratio 13.540% closed at $61.25, up 0.8%
CCB (00939.HK) -0.010 (-0.175%) Short selling $311.12M; Ratio 25.248% closed at $5.71, down 0.2%
AIA (01299.HK) +0.150 (+0.158%) Short selling $387.05M; Ratio 34.449% closed at $94.95, up 0.2%
HSI & HSCEI Constituents on Move:
KUAISHOU-W (01024.HK) +8.700 (+9.335%) Short selling $503.00M; Ratio 10.791% closed at $101.9, up 9.3%
EVERG SERVICES (06666.HK) -0.430 (-7.963%) Short selling $1.97M; Ratio 0.323% closed at $4.97, down 8%
EVERGRANDE (03333.HK) -0.300 (-7.752%) Short selling $63.48M; Ratio 10.590% closed at $3.57, down 7.8%
LI NING (02331.HK) +7.300 (+7.271%) Short selling $220.52M; Ratio 13.010% closed at $107.7, up 7.3%, hitting new high
CHINA FEIHE (06186.HK) -0.640 (-4.324%) Short selling $13.41M; Ratio 4.956% closed at $14.16, down 4.3%
COUNTRY GARDEN (02007.HK) -0.350 (-4.060%) Short selling $38.75M; Ratio 22.571% closed at $8.27, down 4.1%
CHINA RES BEER (00291.HK) -2.250 (-3.448%) Short selling $18.53M; Ratio 2.976% closed at $63, down 3.4%
HAIDILAO (06862.HK) +1.000 (+3.289%) Short selling $126.23M; Ratio 31.623% closed at $31.4, up 3.3%
CM BANK (03968.HK) +2.000 (+3.075%) Short selling $361.19M; Ratio 31.761% closed at $67.05, up 3.1%
WHARF REIC (01997.HK) +1.200 (+3.042%) Short selling $47.54M; Ratio 28.081% closed at $40.65, up 3%
HSMI & HSSI Constituents on Move:
NAGACORP (03918.HK) +0.930 (+15.423%) Short selling $7.49M; Ratio 10.221% closed at $6.96, up 15.4%
CRRC TIMES ELEC (03898.HK) -5.350 (-11.530%) Short selling $53.70M; Ratio 4.210% closed at $41.05, down 11.5%
CGN NEW ENERGY (01811.HK) +0.400 (+7.828%) Short selling $18.81M; Ratio 6.693% closed at $5.51, up 7.8%, hitting new high
YANZHOU COAL (01171.HK) +1.040 (+7.046%) Short selling $20.02M; Ratio 5.339% closed at $15.8, up 7%, hitting new high
TIANGONG INT'L (00826.HK) +0.080 (+1.457%) Short selling $5.90M; Ratio 8.210% closed at $5.57, up 1.5%, hitting new high
China's regulatory systems have failed to catch up with the pace of economic development, according to Andrew Fennell, Senior Director of Asia-Pacific Sovereign Ratings at Fitch Ratings. Despite various regulatory steps on different Chinese industries, there are insufficient data showing the steps' impact on foreign direct investment (FDI).
Regarding the debt of Huarong and Evergrande, Fennell believes the authorities will gradually withdraw national support for private companies while avoiding market interference leading to systematic risks.
Regarding the alleged sexual assault case on a BABA-SW (09988.HK) female staff, the Jinan Huaiyin Procuratorate did not approve the arrest of a male staff surnamed Wang, having ceased investigation as the suspect's forcible indecency did not constitute a criminal offence.
BABA-SW is aware of judicial authorities' report on the case linked with Wang Mouwen, adding the fact has already been clarified with a final conclusion, according to its Weibo post. BABA-SW will take it as a lesson learned and keep bolstering and optimizing itself. While its growth and development may not go swimmingly, BABA-SW will stick to its ideals and faith. The group still believes in the power of justice and benevolence.
Ministry of Industry and Information Technology (MIIT) published the preliminary settlement result of the subsidy fund granted for the promotion and application of NEVs over the course of 2016-2020. The subsidy granted to automobile corporates over the period amounted to RMB32.946 billion.
BYD COMPANY (01211.HK), BAIC MOTOR (01958.HK), Dongfeng Motor, Tesla (TSLA.US), GEELY AUTO (00175.HK), GREATWALL MOTOR (02333.HK), SAIC Motor and GAC GROUP (02238.HK) will receive subsidy of more than RMB1 billion after this round of settlement. BYD COMPANY, in particular, will receive subsidy of RMB3.98 billion, accounting for over 12% of the total amount.
BABA-SW (09988.HK)'s Alipay announced to launch the business opportunity matching platform "Service Youxuan" for service providers. It allows service providers with promotion execution power but without capability in system development to connect with those who have developed their own service models on the platform. As such, those less capable can acquire mini-program service models or industry solutions.
The United States was the third-biggest trade partner of China for the first eight months of 2021, General Administration of Customs (GAC) reported. The China-US total trade value amounted to RMB3.05 trillion, up 25.8% year-on-year.
Tencent Music Entertainment Group (TME.US)'s KuGou published a notice on further strengthening the rectification action of "fan circle" chaos in response to the Cyberspace Administration of China (CAC)'s message. The music streaming platform resolutely opposes fan behavior without bottom line, having removed all celebrity music charts. Singers will hence be sorted alphabetically by their last names.
Tencent Games responded to the reports of minors renting or purchasing "Honor of Kings" accounts yesterday (6th), stating that such act severely impedes the real-name verification system and the protection mechanism for underage players. The company expressed that, as of now, it has launched legal actions or issued official letters to over 20 gaming account trading platforms and several e-commerce platforms, demanding them to cease such services.
AlipayHK and Alipay (Macau) announced that, starting from today (7th), Alipay users in Hong Kong and Macau will be able to transfer fund to the bank accounts linked to their Mainland China Alipay accounts regardless of time and location, with zero transaction fee and discounted exchange rate. Also, the announcement added that Alipay (Macau) will become the first e-wallet in Macau to support cross-border fund transfer.
The chief executive Carrie Lam expressed that, in light of the latest development of the COVID-19 pandemic, the government has decided to resume the full-scale 'Return2hk' scheme which covers all areas of Mainland China, with the exception of specific high-risk areas, starting from midnight tomorrow (8th). Lam added that the 'Come2hk' scheme which allows non-Hong Kong citizens to travel to Hong Kong without being subject to quarantine measures will likewise be launched on 15 September.
The number of completions of private residential units in Hong Kong over the first seven months of this year amounted to 10,058, accounting for approximately 55.2% of the full-year forecast of 18,228 units, according to the latest data from Rating and Valuation Department (RVD).
The Qingmao Port between Zhuhai and Macau is set to open on 8 September, which could mean the Chinese government will eventual scrap visa restrictions. Meanwhile, Citigroup expected the port opening to reduce Macau visitors' time at border. The broker remained upbeat on SANDS CHINA LTD (01928.HK), SJM HOLDINGS (00880.HK) and GALAXY ENT (00027.HK)
JD-SW (09618.HK)'s e-mall Jingxi announced to have formed a strategic alliance with Suqian city government and Suyu district government in Jiangsu province. Through the partnership, the two parties will collaborate on major projects such as the "Jingxi farm model base" and "online food basket", with the aim to develop new selling channels for the fresh products of the local area as well as to cultivate agricultural brands with features unique to the Suqian region.
Fusion Bank, jointly formed by TENCENT (00700.HK), ICBC Asia, HKEX (00388.HK), Hillhouse Capital Group and NEW WORLD DEV (00017.HK) Executive Vice-chairman Adrian Cheng's Perfect Ridge Limited, announced its interim results. A loss of $182 million was recorded, up nearly 43% from the loss of approximately $127 million in the same period last year. The Bank revealed that it had obtained a capital injection of $575 million from shareholders on July 22, saying the funds will be used to support the expansion of banking business.
PRE MARKET NEWS
The Huaiyin District Branch of the Jinan Public Security Bureau issued a notice yesterday (6 September) on the alleged sexual assault case on a BABA-SW (09988.HK) female staff. The prosecutor did not arrest the male staff surnamed Wang, having ceased investigation as the suspect's forcible indecency did not constitute a criminal offence. However, he had been detained for 15 days in accordance with the Public Security Administration Punishments Law. At end-July, a BABA-SW female staff claimed to have been sexually assaulted during a business trip to Jinan, Shandong.
The pre-sale consent for GRAND HOMM, a Ho Man Tin residential project privately held by GOLDIN FIN HOLD (00530.HK) -0.005 (-1.695%) 's Chairman Pan Sutong, was cancelled on 27 August 2021, according to information from the Lands Department. This is a rare case for new residential development.
Geely Holding Group announced that, Cao Cao Mobility, a strategically invested online ride-hailing service provider by the group, has completed its Series B Funding Round which raised RMB3.8 billion, marking the first domestic Chinese equity investment in the ride-hailing sector.
The group expressed that the funds raised will be used to advance R&D into platforms, expand business, improve service quality, and increase driver safety.
Geely Auto announced that Stefan Sielaff, former Director of Design for Bentley Motors, has been appointed Vice President of Global Design at Geely Auto to embellish car design and drive sales.
New energy price mechanisms have been gradually rolled out in Shaanxi, Shandong, Gansu, Guangxi and other Chinese regions, reported Shanghai Securities News.Accordingly, these regions have implemented clear price mechanisms for wind power, photovoltaic power, pumped storage and new energy storage, while studying the time-of-use (TOU) electricity price mechanism to unfold on-peak tariffs timely.
Following the Chinese central government's announcement of a new development plan on reforming and opening up the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, the chief executive of Hong Kong, Carrie Lam expressed that the Hong Kong government welcomes the new development direction. The chief executive hopes that, with the support from the government's policies, different sectors in Hong Kong will be able to capitalize on the immense opportunities brought by the Qianhai and Hengqin schemes and contribute to the development of the Greater Bay Area (GBA).
BYD COMPANY (01211.HK) (002594.SZ) announced that it has been notified that its shareholder Youngy Investment Holding, which holds a stake of more than 5% in the company, has pledged a 2.93% stake for the purpose of operational needs.
The People's Bank of China (PBOC) and Bank Indonesia (BI) jointly announced the official launch of a bilateral local currency settlement (LCS) between China and Indonesia. ICBC (01398.HK) (601398.SH) and PT. Bank ICBC Indonesia are hence designated as the appointed cross currency dealers (ACCDs) by PBOC and BI, having completed the first money transfer between Renminbi and Indonesian Rupiah among two Indonesian companies and a Wenzhou corporate client yesterday (6 September).
HOP HING GROUP (00047.HK) +0.027 (+58.696%) announced that its major shareholder Ocean Ease (as the offeror) proposed privatization of the company by way of a scheme of arrangement, at a price of $0.08 per share, which will be settled in cash, representing a premium of 73.91% over the closing price before the trading halt, involving approximately $228 million. HOP HING GROUP has made an application for the resumption of trading in the company's shares on Tuesday (7th).
TOP EDUCATION (01752.HK) +0.032 (+21.333%) expects to record a profit before tax of approximately AUD300,000 for the year ended 30 June 2021 as compared with a profit before tax of AUD6.3 million for the corresponding period in 2020, representing a decline of around 95%. Such decline is primarily attributable to the affects by COVID19 pandemic and long-lasting closure of Australian international border which result in a decrease in revenue.
XIAOMI-W (01810.HK) +0.050 (+0.200%) Short selling $198.23M; Ratio 14.359% 's statement disclosed that it has repurchased 7.98 million shares of the company on the Stock Exchange on 6 September, at a price ranging between $24.9-25 per share, involving a total amount of approximately $199 million. Year to date, the company has repurchased a total of 39.38 million shares, accounting for 0.16% of the company's share capital.
TENCENT (00700.HK) +13.500 (+2.673%) Short selling $1.05B; Ratio 13.490% 's statement disclosed that it has repurchased 200,000 shares of the company on the Stock Exchange on 6 September, at a price ranging between $488.8-506.5 per share, involving about $100 million. Year to date, the company has repurchased a total of 2.1626 million shares, accounting for 0.02254% of the company's share capital.
CKH HOLDINGS (00001.HK) -0.800 (-1.427%) Short selling $16.34M; Ratio 14.163% 's statement disclosed that on September 6, it repurchased 200,000 shares of the company on the Stock Exchange at a price ranging from $55.95 to $56.30 per share, involving a total of approximately $11.22 million. YTD, the company has repurchased a total of 16.6885 million shares, accounting for 0.4327% of the company's share capital.
STANCHART (02888.HK) -0.450 (-0.914%) Short selling $744.56K; Ratio 11.497% announced that the group and BetaPlus entered into a shareholders’ agreement relating to a joint venture, SC Bank Solutions, whereby the group and BetaPlus will respectively hold 60% and 40% of the issued and paid up share capital of SC Bank Solutions. The two parties will invest SGD240 million into the joint venture, with STANCHART and BetaPlus contributing SGD144 million and SGD96 million respectively. The joint venture will focus on providing digital banking services, which will be STANCHART's second separately licensed digital bank in Asia.
DONGFENG GROUP (00489.HK) +0.110 (+1.272%) Short selling $8.80M; Ratio 12.768% announced that, over August, the group's vehicle production volume amounted to a total of 173,969 units, down 27% YoY. The sales volume dropped 25.2% to 184,491 units. For the first eight months of this year, the aggregate production and sales volumes amounted to 1.7781 million units and 1.8012 million units, up 9.4% and 9.9% respectively, the group added.
GEELY AUTO (00175.HK) +0.600 (+2.147%) Short selling $216.66M; Ratio 18.127% announced that the total sales volume of the Group during the month of August was 88,348 units, a decrease of 22% from the same period last year and down 11% from July. Despite the impact of the epidemic in some regions and the global shortage of chip supply affecting the Group’s delivery volume, the retail sales volume of the Group still reached record high for the same period. The total sales volume in the first eight months of 2021 was 817,860 units, an increase of 9% from the same period last year, achieving 53% of the Group’s full year sales volume target of 1.53 million units in 2021.