Markets opened higher but now trading sideways
German Auto show has begun.
Construction PMI Aug 49.5 vs 49.8 Jul (F/cast was 50.6)
Factory Orders Jul +3.4% MoM vs +4.6% Jun revised (F/cast was -1.2%)
Construction PMI Aug 44.6 vs 47.1 Jul (F/cast was 48.9)
New Car Registrations Aug YoY vs -24.9% Jul (F/cast was -18%)
Construction PMI Aug 44.9 vs 48.5 Jul (F/cast was 49.9)
New Car Sales Aug -22% vs -29.5% Jul (F/cast was -16%)
Construction PMI Aug 55.2 vs 58.7 Jul (F/cast was 56.5)
US Markets closed
CHINA CSI 300 closed +91pts (+1.9%) @ 4,934
Market opened flat but worked higher through the morning to 4,936 at lunchtime. PM saw some choppy trading but basically traded sideways. Brokers continued interest as more details of the new exchange are released. Hengqin in focus on news of tax breaks to boost Macau Guandong. Coal and Aluminium +VE. Chinext strong thanks to Healthcare. Shanghai Composite +40pts (+1.1%) @ 3,622 T/O US$94,045bn -11% DoD
Shenzhen Composite +367pts (+2.6%) @ 14,547 T/O US$120,509bn -5% DoD
ChiNext Composite Index +100pts (+2.9%) @ 3,526
China's National Health Commission reported 18 confirmed COVID-19 cases yesterday (5th), with all of them being imported cases.
Pre market opened 25,827 -75pts vs -26pts ADR’s but rallied to 26,680 in initial trades. Then traded sideways in a tight range around the 26,000 level to 26,034 at lunchtime. PM saw the market continue to grind higher and closed at the day high.
Tencent +3% ahead of the release of League of Legends Mobile and Valorant and most Ecommerce names +VE Healthcare names weak but Pharma +VE
BYD +VE on good sales and comments from MIIT saying it was aiming to have hybrids to be 50% of overall car sales by 2035.
AIA +2.3% on news of the wealth connect to start in Oct.
Infrastructure/Cement +VE on hopes of more spending and price hikes.
Chalco +6% as Aluminium rallied on news of a coup in Guinea.
HONG KONG DATA
HK reported 2 new covid cases; both imported.
After Market News
As of 6 September, 63 Chinese companies have issued announcements to express their support for the government notice on preventing minors from developing online game addiction, including TENCENT (00700.HK), NTES-S (09999.HK), 37 HUYU (002555.SZ), BILIBILI-SW (09626.HK), BIDU-SW (09888.HK) and IDREAMSKY (01119.HK), according to the data from CGIGC, a state-affiliated game publishing authority.
Citigroup, Inc. (C.US) 's commercial banking unit established a China service desk in Singapore with the aim to aid Chinese companies to expand their business operation into ASEAN countries, including Singapore, reported CNBC. Citi's potential clients are primarily mid-scaled growth type companies with annual revenues of up to USD1 billion. At the moment, prominent Chinese firms which have ventured into the Singaporean market includes TENCENT (00700.HK) , ByteDance and iQIYI, Inc. (IQ.US) .
CAFE DE CORAL H (00341.HK) saw fierce sales and sharp improvement in August as restaurant footfall had been shored up by consumption vouchers, mentioned CEO Peter Lo Tak-shing after the shareholders' meeting. However, the group's sales dwindled in July, a traditional peak season. Lo stayed cautiously optimistic about this year, citing double-digit business growth and a per capita consumption rise of $1 for the first four months of the fiscal year.
MTR CORPORATION (00066.HK) -0.100 (-0.228%) Short selling $22.39M; Ratio 16.362% announced that it will enhance train service on the Mid-Autumn Festival (21 September 2021) by operating over 250 additional train trips on the heavy rail lines (except Airport Express and Disneyland Resort Line) during non-peak periods to provide greater convenience to the public to enjoy the festival. After very prudent consideration of the latest COVID-19 pandemic situation, the time arrangement of festive activities in the evening of the Mid-Autumn Festival, and also the Government’s anti-pandemic measures on avoiding gathering of crowds, it was decided that normal operating hours will be maintained on the Mid-Autumn Festival and no overnight train service will be provided.
After years of exploration, the time is ripe for formulating the listed company regulation law, said Li Ming, Director of the Listed Company Supervision of the China Securities Regulatory Commission (CSRC). The watchdog will seize the opportunity to roll out the law, he furthered.
SHORT SELLING Monday 11.3% vs 15% Friday
Top shorts Wharf REIC (1997) 34%, Shenzhou (2313) 34%, Haidilao (6862) 31%, Sands China (1928) 31%, Bud Apac (1876) 28%, CK Assets (1113) 26%, Ali Health (241) 26%, Bank of China (3988) 25%, Galaxy Ent (27) 24%
Market traded down to 7,440 in early trades as a number of companies went ExDiv, but then worked better through the session Currently -22pts(-0.3%) @ 7,501 Iron ore ticked higher but oil remains weak.
Data Job Ads Aug -2.5% MoM vs -1.3% Jul Revised (F/cast was -0.3%)
Australia's New South Wales reported 1,281 more COVID-19 cases over the day, most of which in Sydney. Officials predicted Sydney to see daily infection peak of 2,000 cases next week.
Nikkei opened higher building on Friday’s gains and traded slightly higher through the session but dipped slightly into the close. Currently +532pts (+1.8%) @ 29,660
Topix traded in a similar fashion +26pts (+1.3%) @ 2,041
Leaders Shippers, Brokers, Machinery, Info Tech and Cyclicals.
Laggards were Utilities, Miners and Pulp & Paper
Aftermarket it was announced that Nikkei 225 rebalance
Adds Nintendo (7974), Keyence (6861) and Murata (6981)
Deletes Nisshinbo (3105), Toyo Seikan (5901) and Sky Perfect (9142)
Effective 1 October. This will be a significant rebalance.
Tokyo reported 968 new covid cases.
KDCA announced 1,375 new covid cases
Foreigners and Local Institutions small net buyers
Kospi opened lower and traded in a narrow range basically 3,187-3,206. It rallied in the last 30 minutes to close +2pts (+0.1%) @ 3,203
Kosdaq opened higher but sold down to 1,050 before rebounding but trending lower after midday. Rallied in the last hour to close -0.9% (-0.1%) @ 1,053
Leaders Tech and Chem
Laggards Financials as Kakao Bank continues to correct as lock up on share sales expires. Apparel also weak.
Taiex opened higher, initially dipped to 17,461 before working better initial resistance at 17,600. Retrenched back to 17,530 before testing higher to 17,633 but then sold down from midday to 17,489 and then traded sideways to close -22pts (-0.1%) 17,495
Leaders Tech and Real Estate
After Market Foreign Exchange Reserves Aug $543.578bn vs 543.076bn Jul
T/O was US$13.53bn vs US$13.05bn Friday
CECC reported 16 new covid cases (7 imported).
Northbound RMB 70,920m Sell 35,130m vs 35,790m Buy
Southbound HK$ 16,129m Sell 8,396m vs 7,733m Buy
Northbound RMB 85,756m Sell 41,518m vs 44,238m Buy
Southbound HK$ 20,907m Sell 9,074m vs 11,833m Buy
TENCENT (00700.HK) +17.000 (+3.484%) Short selling $877.10M; Ratio 6.543% closed at $505, up 3.5%
AIA (01299.HK) +2.100 (+2.265%) Short selling $344.62M; Ratio 20.021% closed at $94.8, up 2.3%
HKEX (00388.HK) +10.400 (+2.133%) Short selling $303.46M; Ratio 12.694% closed at $498, up 2.1%
BABA (09988.HK) +3.100 (+1.880%) Short selling $253.28M; Ratio 6.297% closed at $168, up 1.9%
MEITUAN (03690.HK) +2.600 (+1.062%) Short selling $627.60M; Ratio 11.000% closed at $247.4, up 1.1%
CCB (00939.HK) +0.050 (+0.882%) Short selling $171.35M; Ratio 12.577% closed at $5.72, up 0.9%
PING AN (02318.HK) +0.400 (+0.663%) Short selling $245.76M; Ratio 11.313% closed at $60.75, up 0.7%
HSI & HSCEI Constituents on Move:
BYD COMPANY (01211.HK) +19.800 (+7.783%) Short selling $632.24M; Ratio 16.132% closed at $274.2, up 7.8%
HAIDILAO (06862.HK) -1.300 (-4.101%) Short selling $98.80M; Ratio 30.840% closed at $30.4, down 4.1%
WUXI BIO (02269.HK) +4.500 (+3.886%) Short selling $75.09M; Ratio 3.849% closed at $120.3, up 3.9%
EVERG SERVICES (06666.HK) -0.200 (-3.571%) Short selling $872.81K; Ratio 0.417% closed at $5.4, down 3.6%
JD LOGISTICS (02618.HK) +1.150 (+3.397%) Short selling $19.60M; Ratio 7.822% closed at $35, up 3.4%
KUAISHOU-W (01024.HK) +3.050 (+3.383%) Short selling $336.30M; Ratio 10.306% closed at $93.2, up 3.4%
CPIC (02601.HK) +0.800 (+3.368%) Short selling $106.28M; Ratio 20.416% closed at $24.55, up 3.4%
HSMI & HSSI Constituents on Move:
JW THERAP-B (02126.HK) +5.000 (+28.090%) Short selling $7.34M; Ratio 2.591% closed at $22.8, up 28.1%
GLORY SUN FIN (01282.HK) +0.048 (+19.835%) Short selling $946.52K; Ratio 4.620% closed at $0.29, up 19.8%
EB ENVIRONMENT (00257.HK) +0.760 (+14.022%) Short selling $30.31M; Ratio 5.595% closed at $6.18, up 14%, hitting new high
ALPHAMAB (09966.HK) +2.950 (+14.014%) Short selling $18.59M; Ratio 9.496% closed at $24, up 14%
LEGENDHOLDING (03396.HK) +2.100 (+13.376%) Short selling $3.31M; Ratio 1.441% closed at $17.8, up 13.4%, hitting new high
KOOLEARN (01797.HK) +0.690 (+13.320%) Short selling $3.51M; Ratio 3.042% closed at $5.87, up 13.3%
TIGERMED (03347.HK) +16.900 (+12.697%) Short selling $15.37M; Ratio 6.205% closed at $150, up 12.7%
VENUS MEDTECH (02500.HK) +4.200 (+11.351%) Short selling $8.45M; Ratio 7.616% closed at $41.2, up 11.4%
CARSGEN-B (02171.HK) -5.400 (-11.111%) closed at $43.2, down 11.1%
COMBA (02342.HK) +0.200 (+10.363%) Short selling $532.78K; Ratio 0.678% closed at $2.13, up 10.4%
CEB GREENTECH (01257.HK) +0.270 (+10.000%) Short selling $3.51M; Ratio 3.683% closed at $2.97, up 10%
SHANGHAI PECHEM (00338.HK) +0.150 (+7.576%) Short selling $19.27M; Ratio 6.071% closed at $2.13, up 7.6%, hitting new high
WESTCHINACEMENT (02233.HK) +0.080 (+5.839%) Short selling $611.38K; Ratio 0.643% closed at $1.45, up 5.8%, hitting new high
TIANGONG INT'L (00826.HK) +0.290 (+5.577%) Short selling $3.42M; Ratio 3.863% closed at $5.49, up 5.6%, hitting new high
CLP HOLDINGS (00002.HK) and GE (GE.US) announced that the companies have signed a memorandum of understanding (MoU) agreement to establish a new collaboration to jointly develop a decarbonisation roadmap for CLP’s gas-fired power generation facilities in Hong Kong. Under the MoU, CLP and GE will discuss and develop decarbonisation options for the generating units at CLP’s Lung Kwu Tan Power Station in Hong Kong, which is powered by GE’s 9F.03 heavy-duty gas turbines.
National Development and Reform Commission (NDRC) issued a notice regarding strengthening the supervision of the fees for after school training (AST) of subjects at the compulsory education stage. The notice specified that a government-guided price management should be implemented, and that online and offline subject-based AST fees during the compulsory education stage should be charged on a non-profit manner by training institutions. The Chinese government should define the benchmark fees with a floating range, and include it in the local pricing catalogue according to procedure, the notice furthered. The upper range should not exceed 10%, while the lower range is not limited.
Samsung has disposed of its 1.6% stake in BYD COMPANY (01211.HK) worth of KRW1.5 trillion (US$1.3 billion), South Korean media reported. Amidst tussle of electric vehicle development between technology firms and automakers, Samsung's move arouses speculation. Samsung sold the BYD shares to pocket gains as BYD's share price has logged radical surge in last few years, the report cited analysis, while some others viewed that Samsung has no specific reason to do so given its almost US$100 billion cash reserve. Meanwhile, analysts also thought Samsung's decision was affected by the U.S. policy against China.
HENDERSON LAND (00012.HK) -0.150 (-0.432%) Short selling $10.44M; Ratio 16.867% 's residential project located in 1st Shau Kei Wan Road, Eastern District, Hong Kong Island -- "THE HOLBORN" is expected to unveil the model flats to the public this Thursday or Friday and will release the price list within this week at the earliest, expressed the company's general manager of Sales (2) Department, Mark Hahn.
TENCENT (00700.HK) initiated a special project focusing common prosperity under the 99 Giving Day campaign in response to the call of the government and society on raising people's awareness on social welfare topics. According to data provided by Tencent Charity, as at 6 pm, 5 September, the project has amassed donations of RMB430 million for various common prosperity goals, including post-disaster rebuilding, revitalization of rural areas, etc..
Tencent Music Entertainment Group officially rolled out the original live music service system called "Yinsuda Engine" on 5 September. The engine is the first legitimate and authorized music service used for livestreaming scenarios since the new Copyright Law of the PRC has been implemented on 1 June 2021.
The Civil Aviation Authority of Singapore (CAAS) would approve Boeing Company (BA.US)'s 737 MAX aircraft to return to service, as Singapore Airlines and other operators had complied with airworthiness directives and extra flight crew training requirements.
The cryptocurrency exchange Binance expressed that, following Monetary Authority of Singapore (MAS)'s order to halt its payment service, the company will scale down its services offered in Singapore. Binance.com announced that it will cease to provide payment service in SGD, and SGD trading pairs from 10 September.
Overnight HIBOR last posted at 0.03634%, logging a 1-month low, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.06607%.
The cryptocurrency Bitcoin retrieved to the level of USD51,000; last posted USD51,695, up over 3% in a single day, according to data from Coindesk. In addition, the Central American country El Salvador will formalize Bitcoin as a legal tender within the country tomorrow (7th). However, according to a survey conducted by the Central American University (UCA), only 4.8% of the interviewed people know that Bitcoin is a form of cryptocurrency while 20% of them have never heard of Bitcoin.
Tianyancha App showed that Tencent Technology (Shenzhen) has recently applied to register the "WECHAT CLOUD" trademark, with the international category involving website service, communication service, advertising and sales, reported Chinese media.
O'Connor, the multi-strategy hedge fund manager within UBS Asset Management, is considering giving investors direct access to its China investment strategy, given their doubts on Beijing's investment potential amid recent Chinese regulatory measures.
Shenzhen Stock Exchange announced the adjustment to the southbound trading stock list under the Shenzhen-Hong Kong Stock Connect effective today (6th), due to regular constituent adjustment for the Hang Seng Composite LargeCap Index, MidCap Index and SmallCap Index.
The following stocks are added: HUTCHMED (00013.HK), C.P. POKPHAND (00043.HK), HK TECH VENTURE (01137.HK), NAYUKI (02150.HK), CARSGEN-B (02171.HK), JINCHUAN INTL (02362.HK), CSTONE PHARMA-B (02616.HK), VOBILE GROUP (03738.HK), CHINA DONGXIANG (03818.HK), SCICLONE PHARMA (06600.HK), CHEERWIN GP (06601.HK), ANGELALIGN (06699.HK), YOURAN DAIRY (09858.HK) and KINTOR PHARMA-B (09939.HK) .
Tencent Games announced that it will introduce the PC strategic shooter game VALORANT developed by Riot Games in China. Tencent Games and Riot Games jointly expressed that the two parties will build on the experience and advantages gained from the 10-year operation of "League of Legends" and strive to provide the players with the ultimate shooter game experience.
China Consumers News (CCN), run by the State Administration for Market Regulation (SAMR) and China Consumer Association (CCA), published an article, criticizing certain video platforms for abusing the advantage of resources to launch different unreasonable charging models, which severely undermine the interests of the platform users. The article suggested that relevant regulatory departments should intervene to rectify such act and to regulate the charging standards for said platforms.
Chinese Vice Premier Liu He attended the opening ceremony of the 2021 China International Digital Economy Expo, according to Xinhua. In his virtual speech, Liu stressed the need to support private economic development vigorously, allowing it to give a fuller play in steady growth, solid employment, structural adjustment and fostering innovation. China will also have to protect fair competition and say no to monopoly, he added.
The southbound leg of the Bond Connect (also known as "Southbound Bond Connect") will have more details unveiled as soon as this week, likely being kicked off before the National Day Holiday, Hong Kong Economic Times cited market sources.
The Cross-boundary Wealth Management Connect is ready to go, being tested for the last time by some large banks last week, Hong Kong Economic Journal quoted sources. The system is expected to be launched officially in early October.
Brazil has paused beef exports to China after detecting two atypical cases of mad cow disease. Hong Kong's Centre for Food Safety (CFS) said it will keep close tabs on and continuously follow up the case development. Atypical mad cow disease, i.e. bovine spongiform encephalopathy (BSE), is rare and develops spontaneously in cattle, it added. There is no proof that atypical BSE is transmissible, according to World Organisation for Animal Health.
PRE MARKET NEWS
China's banking sector tracked higher revenues, with more than half of the listed banks achieving a double-digit total remuneration growth in the first half of 2021, according to Chinese media's statistics based on their half-year reports. CM BANK (03968.HK) topped the chart among listed lenders, with average monthly salary of RMB58,000.
Consumption Voucher Scheme is given specific purposes and meanings, which directly sweetens citizens while boosting the Hong Kong economic recovery and enabling more extensive use of e-payment among residents and merchants, Financial Secretary Paul Chan wrote on his blog. Since 6.3 million residents claimed the first instalment, the market has been bolstered effectively and businesses hiked phenomenally. Such outcome indicated the effects of the Scheme. Chan hoped that the second instalment will entail new wave of consumption power.
GEELY AUTO (00175.HK) +0.450 (+1.642%) Short selling $104.71M; Ratio 13.195% 's "Zeekr" brand announced that it had opened the country's first Zeekr Center in Hangzhou earlier, comprising the ZEEKR HALL product demonstration zone and the ZEEKR PUB user experience area. The Center is meant to provide consumers with profound product experience.
COUNTRY GARDEN (02007.HK) -0.130 (-1.484%) Short selling $5.82M; Ratio 15.069% Chairman Yang Guoqiang expressed during a management meeting that the real estate industry is undergoing a drastic transformation at the moment and that the only way to adapt to such change is to provide products truly needed by the customers. The company's president Mo Bin stressed that it will strive to be a customer-oriented and most competitive real estate corporate in the future.
FOSUN INTL (00656.HK) -0.140 (-1.333%) Short selling $3.31M; Ratio 31.557% announced that Fuyu Culture, an indirect wholly-owned subsidiary of the Company, and Foyo Culture entered into the Asset and Equity Transfer Agreement, pursuant to which Fuyu Culture agreed to acquire the Targets at RMB80 million. These include Shanghai Mengmeng, Shanghai Yichuan, Shanghai Quanzhudong, Shanghai Languifu and Shanghai Maibu, which are principally engaged in the businesses of e-sports, sports, information services and games. Equally, Fosun Sports, an indirect wholly-owned subsidiary of the Company, would acquire the Targets from HD Games, a wholly-owned subsidiary of Foyo Culture, at RMB180 million.
LI AUTO-W (02015.HK) -0.200 (-0.169%) Short selling $649.83K; Ratio 12.196% announced that, on September 3, 2021 (after trading hours), the joint global coordinators, on behalf of the international underwriters, have partially exercised the over-allotment option in respect of an aggregate of 13.8697 million Class A Ordinary Shares, representing approximately 13.87% of the offer shares initially available under the global offering before any exercise of the over-allotment option. LI AUTO-W added that the company will receive additional net proceeds of approximately HK$1.6 billion for the issue of the over-allotment shares.
NEXT DIGITAL (00282.HK) announced that Ip Yut Kin has tendered his resignation as a non-executive director and chairman of the Company and Louis Gordon Crovitz and Mark Lambert Clifford have tendered their resignations as independent non-executive directors of the Company. Trading in the shares of the Company will remain suspended
Didi Global (DIDI.US) +0.210 (+2.384%) expressed that relevant reports suggesting Beijing government is coordinating with state-owned enterprises to invest in the company is not correct. Bloomberg News had previously reported that Beijing is considering to arrange Shouqi Group, along with other SOEs, to invest in Didi. The current major shareholders of Didi include SoftBank, Uber (UBER.US) and BABA-SW (09988.HK)
China may further lower the RRR or even interest rate in case of market demand this year, China Securities Journal cited National Institution for Finance & Development (NIFD) Deputy Director Zeng Gang. In comparison, it is more likely for the PBOC to adjust the RRR than interest rate.
Daimler CEO Ola Kallenius said soaring chip demand means the auto sector may struggle to source enough chips in the two years ahead, although the scarcity should be less grave by then, reported foreign media.
China Securities Regulatory Commission (CSRC)'s vice chairman Fang Xinghai expressed at the China International Finance Annual Forum 2021 that the government intends to further realize Hong Kong's potential as portal to open up to other economies in the capital market while safeguarding the city's position as a financial center. Fang revealed that the Hong Kong A-share index futures will begin trading within the year and additional effort will have to be made on cross-border regulation.
He also said that that a series of measures launched by the CSRC in hope to stably propel high-standard opening up of the capital market have realized remarkable results and that the government will continue to support qualified foreign institutions to develop their business presence in China. Fang remarked that the CSRC will endeavor to further drive the opening up of China's capital market system, through optimizing the channels and methods for foreign investors to participate in China's securities and futures markets, while perfecting the regulatory system on corporates' overseas listings.
GAC GROUP (02238.HK) +0.660 (+8.049%) Short selling $49.29M; Ratio 7.432% 's general manager Feng Xing Ya expressed at the opening ceremony of "2021 International Forum (TEDA) on Chinese Automotive Industry Development" that the group targets to realize vehicle sales of 3.5 million units by 2025, with that of NEVs accounting for over 25% of the total sales.
Alibaba Foundation announced a strategic upgrade, anchoring its future development into three directions: common prosperity, countryside revitalization and green environment. Charity funds will be poured into the three directions consistently, the Foundation said, particularly emphasizing technological upgrade on pushing ecological efficiency of public welfare ahead.
TENCENT (00700.HK) +17.000 (+3.484%) Short selling $190.04M; Ratio 2.596% is weighing to launch personal paid WeChat cloud storage services, indicating that WeChat users will be able to back up and retrieve their chat history on a cloud platform, reported Chinadaily.com. The services may adopt a yearly payment model, based on hearsay. The annual fee for Apple users is expected to approximate RMB180, and RMB130 for Android users. It also announced its prevalent game "Honor of Kings" previously encountered a server collapse, which hindered players' log-in and the overall gaming experience. The game later responded that relevant issues have been managed and that the game is gradually recovering to its proper state.
The CPC Central Committee and the State Council published a general plan to build an in-depth Guangdong-Macao cooperation zone in Hengqin. On the cross-border financing front, Hengqin is set to explore the creation of a new external debt management system. Equally, the Plan encourages the setup of multi-currency venture capital funds and private equity funds using social capital based on market-oriented principles. It is also aiming to develop new industries to propel Macao's appropriate economic diversification. It is also stipulated that Hengqin will ramp up sector development regarding IC, electronic components, new materials, new energy, big data, AI, IoT and biomedicine. In addition, Hengqin is to expedite the construction of a microelectronics industrial chain for distinctive chip design, testing and examination.
Beijing Stock Exchange completed business registration, with its inception and approval date being September 3rd. The National Equities Exchange and Quotations (NEEQ) is the sole shareholder of the stock exchange. According to registration information, Xu Ming is not only the legal representative of Beijing Stock Exchange, but also the Party Committee secretary and chairman of NEEQ.
Beijing Stock Exchange is soliciting public opinions on the rules of listing, trading and membership management, proposing no rigid requirements for cash dividend payout ratio and encouraging firms not to bite off more than they can chew in this regard. Regarding stock incentive, listed companies are allowed to fix option exercise prices below stock market prices to boost incentive under the premise of adequate disclosure and fulfilment of the corresponding procedures.
EVERGRANDE (03333.HK) +0.040 (+1.026%) Short selling $19.76M; Ratio 12.117% announced that in August, the Group achieved contracted sales of properties of RMB38.08 billion, down 26% YoY.
TONGDA GROUP (00698.HK) +0.040 (+14.815%) Short selling $5.52M; Ratio 24.854% announced that as the market condition has improved recently, the Company has decided to resume the Proposed Spin-off of Tongda Smart Tech and the listing application for the Proposed A-Share Listing is planned to be submitted in October. The Stock Exchange has confirmed that the Company may proceed with the Proposed Spin-off.
BYD COMPANY (01211.HK) +13.600 (+5.346%) Short selling $338.42M; Ratio 13.572% announced that the total car production and sales volume of the Company for the month of August reached 69,192 units and 68,531 units, up 87.9% YoY and 86.3% YoY respectively.
TENCENT (00700.HK) +16.000 (+3.279%)'s statement disclosed that it had repurchased 210,000 shares of the company on the Stock Exchange on 3 September, at a price ranging between $482-496.6 per share, involving approximately $102 million.