G Sachs: Hedge Funds Agree on XIAOMI-W as a Short Selling Target
Hedge Fund Sentiment: Goldman Sachs reports that hedge funds have become bearish on XIAOMI-W (01810.HK), with a significant increase in short positions by 53% over the past week.
Short Selling Data: The short selling amount for XIAOMI-W reached $447.68 million, with a short ratio of 18.549%, indicating a strong consensus among institutional clients to maintain short positions until the upcoming earnings announcement on November 18.
Market Concerns: Factors contributing to the bearish outlook include a lack of catalysts, safety concerns, delays in factory construction, and disappointing performance in the electric vehicle sector despite recent promotions.
Analyst Downgrade: Haitong International has lowered its target price for XIAOMI-W to $57.4, anticipating relatively weak results for the third quarter.
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Midday Update: HSI Ends at 27,173, Gaining 146 Points; HSTI Reaches 5,463, Up 45 Points; MEITUAN Falls Over 3%; YUM CHINA, BOC HONG KONG, HSBC HOLDINGS, DAHSING BANKING, and KB LAMINATES Achieve New Highs
Market Performance: The Hang Seng Index (HSI) rose by 146 points (0.5%) to 27,173, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also saw gains of 45 points (0.8%) and 71 points (0.8%) respectively.
Active Heavyweights: Notable movements included Meituan down 3% to $88.3, Xiaomi up 2% to $35.92, Alibaba up 1.5% to $160.2, and Tencent down 1.1% to $554.
Top Gainers: CSPC Pharma, Wuxi Biologics, and Innovent Biologics were among the top gainers, with increases of 6.3%, 5.6%, and 5.3% respectively, while New Oriental fell by 4.7%.
Significant Moves in Other Stocks: China Literature surged by 15.6%, Vobile Group increased by 13.3%, and Dahsing Banking rose by 7.4%, all hitting new highs, indicating strong market activity in various sectors.
HSI Rises 175 Points; NetEase and Pop Mart Surge; HSBC Exceeds HKD140
US Tech Stocks Performance: US tech stocks saw a rebound, with the Nasdaq increasing by 0.9% on the 9th of the month.
Hong Kong Market Opening: The Hong Kong bourse opened higher, with the HSI up 0.6%, HSCEI up 0.6%, and HSTECH up 0.8%.
Major Tech Stocks Movement: Key tech companies like TENCENT, KUAISHOU, and JD-SW opened higher, while MEITUAN-W saw little change.
Financial Sector Updates: HSBC and HKEX also opened higher, while LONGFOR GROUP reported a significant drop in contracted sales, affecting its stock performance.
Lei Jun: Xiaomi Auto Currently Has No Plans to Enter the US Market
Xiaomi YU7 Vehicle: A Xiaomi YU7 vehicle was spotted on a California highway, leading to speculation about the company's potential entry into the US market.
Company Response: Lei Jun, Xiaomi's founder, clarified on Weibo that there are no current plans for the company to enter the US market, suggesting the YU7 was likely acquired by an American peer or supplier for benchmarking purposes.
Short Selling Activity Reaches $36.8B, Representing 16.7% of Total Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $36.8 billion, accounting for 16.7% of the eligible securities turnover, a decrease from 22.2% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include CSOP HS TECH, XIAOMI-W, TRACKER FUND, BABA-W, and MEITUAN-W, with short selling ratios ranging from 8% to 39.7%.
CSOP HS TECH Performance: CSOP HS TECH had a short selling amount of $2.28 billion, with a short selling ratio of 27.1%.
XIAOMI-W Performance: XIAOMI-W recorded a short selling amount of $1.73 billion, with the highest short selling ratio among the top five at 39.7%.
Short Selling Activity Reaches $18.8B, Representing 16.9% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $18.8 billion at midday, accounting for 16.9% of the eligible securities turnover, a decrease from 22.2% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include CSOP HS TECH, XIAOMI-W, TRACKER FUND, MEITUAN-W, and BABA-W, with short selling ratios ranging from 11.3% to 45.7%.
CSOP HS TECH Performance: CSOP HS TECH (03033.HK) had a short selling turnover of $1.16 billion, with a short selling ratio of 30.2%.
XIAOMI-W and MEITUAN-W Highlights: XIAOMI-W (01810.HK) reported a short selling turnover of $996 million and a ratio of 40.8%, while MEITUAN-W (03690.HK) had a turnover of $916.9 million with a ratio of 45.7%.
<Midday Update> HSI Rises by 385 Points; HSTI Gains 55 Points; PING AN Surges Over 4%; YUM CHINA, LI NING, SHK PPT, BOC HONG KONG, and ZTO EXPRESS-W Reach New Peaks
Market Performance: The HSI rose by 385 points (1.5%) to 26,945, while the HSTI and HSCEI also saw gains of 55 points (1.0%) and 111 points (1.2%) respectively.
Active Heavyweights: Notable stocks included PING AN (+4.1%), HKEX (+2.8%), and BABA (+1.9%), with significant short selling activity reported for each.
Top Gainers: INNOVENT BIO and POP MART led the gains among HSI & HSCEI constituents, rising by 5.9% and 5.8% respectively, while KUAISHOU-W experienced a notable decline of 4.3%.
Significant Movements: CHINA EAST EDU and CHINA LIT saw substantial increases of 11.9% and 10.1%, while REALORD GROUP faced a significant drop of 10%.
Midday Update: HSI Ends at 27,173, Gaining 146 Points; HSTI Reaches 5,463, Up 45 Points; MEITUAN Falls Over 3%; YUM CHINA, BOC HONG KONG, HSBC HOLDINGS, DAHSING BANKING, and KB LAMINATES Achieve New Highs
Market Performance: The Hang Seng Index (HSI) rose by 146 points (0.5%) to 27,173, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also saw gains of 45 points (0.8%) and 71 points (0.8%) respectively.
Active Heavyweights: Notable movements included Meituan down 3% to $88.3, Xiaomi up 2% to $35.92, Alibaba up 1.5% to $160.2, and Tencent down 1.1% to $554.
Top Gainers: CSPC Pharma, Wuxi Biologics, and Innovent Biologics were among the top gainers, with increases of 6.3%, 5.6%, and 5.3% respectively, while New Oriental fell by 4.7%.
Significant Moves in Other Stocks: China Literature surged by 15.6%, Vobile Group increased by 13.3%, and Dahsing Banking rose by 7.4%, all hitting new highs, indicating strong market activity in various sectors.
HSI Rises 175 Points; NetEase and Pop Mart Surge; HSBC Exceeds HKD140
US Tech Stocks Performance: US tech stocks saw a rebound, with the Nasdaq increasing by 0.9% on the 9th of the month.
Hong Kong Market Opening: The Hong Kong bourse opened higher, with the HSI up 0.6%, HSCEI up 0.6%, and HSTECH up 0.8%.
Major Tech Stocks Movement: Key tech companies like TENCENT, KUAISHOU, and JD-SW opened higher, while MEITUAN-W saw little change.
Financial Sector Updates: HSBC and HKEX also opened higher, while LONGFOR GROUP reported a significant drop in contracted sales, affecting its stock performance.
Lei Jun: Xiaomi Auto Currently Has No Plans to Enter the US Market
Xiaomi YU7 Vehicle: A Xiaomi YU7 vehicle was spotted on a California highway, leading to speculation about the company's potential entry into the US market.
Company Response: Lei Jun, Xiaomi's founder, clarified on Weibo that there are no current plans for the company to enter the US market, suggesting the YU7 was likely acquired by an American peer or supplier for benchmarking purposes.
Short Selling Activity Reaches $36.8B, Representing 16.7% of Total Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $36.8 billion, accounting for 16.7% of the eligible securities turnover, a decrease from 22.2% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include CSOP HS TECH, XIAOMI-W, TRACKER FUND, BABA-W, and MEITUAN-W, with short selling ratios ranging from 8% to 39.7%.
CSOP HS TECH Performance: CSOP HS TECH had a short selling amount of $2.28 billion, with a short selling ratio of 27.1%.
XIAOMI-W Performance: XIAOMI-W recorded a short selling amount of $1.73 billion, with the highest short selling ratio among the top five at 39.7%.
Short Selling Activity Reaches $18.8B, Representing 16.9% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $18.8 billion at midday, accounting for 16.9% of the eligible securities turnover, a decrease from 22.2% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include CSOP HS TECH, XIAOMI-W, TRACKER FUND, MEITUAN-W, and BABA-W, with short selling ratios ranging from 11.3% to 45.7%.
CSOP HS TECH Performance: CSOP HS TECH (03033.HK) had a short selling turnover of $1.16 billion, with a short selling ratio of 30.2%.
XIAOMI-W and MEITUAN-W Highlights: XIAOMI-W (01810.HK) reported a short selling turnover of $996 million and a ratio of 40.8%, while MEITUAN-W (03690.HK) had a turnover of $916.9 million with a ratio of 45.7%.
<Midday Update> HSI Rises by 385 Points; HSTI Gains 55 Points; PING AN Surges Over 4%; YUM CHINA, LI NING, SHK PPT, BOC HONG KONG, and ZTO EXPRESS-W Reach New Peaks
Market Performance: The HSI rose by 385 points (1.5%) to 26,945, while the HSTI and HSCEI also saw gains of 55 points (1.0%) and 111 points (1.2%) respectively.
Active Heavyweights: Notable stocks included PING AN (+4.1%), HKEX (+2.8%), and BABA (+1.9%), with significant short selling activity reported for each.
Top Gainers: INNOVENT BIO and POP MART led the gains among HSI & HSCEI constituents, rising by 5.9% and 5.8% respectively, while KUAISHOU-W experienced a notable decline of 4.3%.
Significant Movements: CHINA EAST EDU and CHINA LIT saw substantial increases of 11.9% and 10.1%, while REALORD GROUP faced a significant drop of 10%.
