Aug 23 HK / China Markets rebound but volume remain light.


23 Aug

This and previous notes can be found at Substack ( Asian Market Sense )
Check out ERI-C.com for interesting research and trading analysis

HSI +260pts (+1.1%) 25,110 HSCEI +73pts (+0.8%) 8,816 T/O HK$169.77bn (-16.9% DoD)

Europe
Markets opened higher following the rebounds in Asia but initially sold down as Flash PMI’s in Eurozone hit a 2 month low and then they traded sideways in the green. Retail stocks rose but utilities weak.
Nvidia takeover of British chip designer ARM is hanging in the balance after the U.K.’s competition watchdog said the deal would require a drawn out investigation.
Janus Henderson has projected that global dividend payouts will rise to $1.39 trillion in 2021, nearing pre-pandemic levels.
Data
Eurozone
Manufacturing Flash PMI Aug 61.5 vs 62.9 Jul (F/cast 62.2)
Services Flash PMI Aug 59.7 vs 59.8 Jul (F/cast 59.4)
Composite Flash PMI Aug 59.5 vs 60.2 Jul (F/cast 59.8)
Germany
Manufacturing Flash PMI Aug 62.7 vs 65.9 Jul (F/cast 64.8)
Services Flash PMI Aug 61.5 vs 61.8 Jul (F/cast 61.1)
Composite Flash PMI Aug 60.6 vs 62.4 Jul (F/cast 61.8)
France
Manufacturing Flash PMI Aug 57.3 vs 58 Jul (F/cast 57.9)
Services Flash PMI Aug 56.4 vs 56.8 Jul (F/cast 57)
Composite Flash PMI Aug 55.9 vs 56.6 Jul (F/cast 57.1)
UK
Manufacturing Flash PMI Aug 60.1 vs 60.4 Jul (F/cast 59.1)
Services Flash PMI Aug 55.5 vs 59.6 Jul (F/cast 58.8)
Composite Flash PMI Aug 55.3 vs 59.2Jul (F/cast 58.9)
CBI Industrial Trends Orders Aug 18 vs 17 Jul (F/cast was 17)

US Futures
Opened Dow +15pts, S&P and NDX slightly +VE but rallied as Asia trended higher; Dow +158pts S&P and NDX moving higher
Ahead Chicago Fed National Activity Index, Flash PMI data, Existing Home Sales.
Earnings JD.com, Palo Alto Networks, Madison Square Garden

CHINA
CSI 300 closed +67pt (+1.4%) @ 4,836
CSI 300 opened slightly higher, initially dipped before rallying to 4,833 but then eased back into lunch @ 4,810 PM market opened higher and worked higher to 4,844 early afternoon. Eased back and traded sideways into the close.
Commerce Minister talks about ‘cross cyclical’ decisions across a number of sectors. Means more smaller steps but with the longer term time frame in mind. He mentioned the need for further opening up with ‘dual circulation’ in domestic and international markets. Said foreign companies are a major part of the economy and that China was considering joining the CPTPP. But warned about the impact of covid on exports for the rest of 2021 and early 2022.
Hangzhou’s Municipal Party Committee Sec being investigated for serious disciplinary violations putting more focus on Alibaba.

Shanghai Composite +50pts (+1.5%) @ 3,477 T/O US$78,590 +4.9% DoD
Shenzhen Composite +282pts (+2%) @ 14,536 T/O US$117,639 +8.9% DoD
ChiNext Composite Index +115pts (+3.3%) @ 3,589CHINA DATA
China's National Health Commission reported zero COVID-19 confirmed cases.

HONG KONG
Pre market opened @ 25,170 +320pts vs +207pts ADR’s
Dipped initial on margin call selling but then rallied to 25,460 level as Hedge Funds covered recent shorts covered before drifting lower into lunch. PM saw the initial enthusiasm wane
Healthcare and Consumer names lead. Banks and Energy lagged
Brokers reported longs buying Ecommerce, Internet but Financials still seeing selling pressure. Tencent rebounded and saw a 300k block trade in the morning @ HK$437.90 Alibaba -3.7% as top official in its home town is being investigated.
Today’s rebound was on volumes that were 17% lighter than the selling seen on Friday. Southbound trades were muted too suggesting a lot of money waiting on the sidelines.
Results in focus JD.com due today. Out at lunch Xtep Int, China LiLang, China Overseas Land.
HKEX +5.8% on news it will offer A share futures; signs licence with MSCI and gets SFC approval.
HSI to be increased to 60 names from Sept 6 adding Xinyi Glass (868 HK), LiNing (2331 HK) and China Merchants Bank (3968 HK) and the deletion of BoComm (3323 HK).
Some suggesting sell China Merchants Bank H and buy the A share on the news.

EARNINGS HK due Tuesday includes: 
Regal Hotels (78)   Kunlun Energy (135), K Wah (173), Shui On Land (272), Sinofert (297), Esprit (330), Glorious Sun (393), China Foods (506), Sinotrans (598), Paliburg (617), Fosun (656), Kaisa Health (876), Emperor Watch (887), China Taiping Ins (966), Mainland Headwear (1100), China Outfitters (1146), China Datang Renewable Power (1798), CGN New Energy (1811), Ping An Healthcare (1833), China Aircraft Leasing (1848), Country Garden (2007), BBMG (2009), Anta (2020), Coolpad (2369), Chalco (2600), Guiotai Junan Sec  (2611), Guangzhou R&F Property (2777), Kingsoft (3888), Greentown  (3900), Inner Mongolia Yitai Coal (3948), Haidilao Int (6862)

HONG KONG DATA
HK reported 5 new covid cases; all imported.
SHORT SELLING Monday 14.9% vs 14.3% Friday
Top shorts 
Country Garden (2007) 54%, CK Asset (1113) 50%, Bank Comm (3328) 49%, Ali Health (241) 45%, Bank of China (3988) 45%,  Hengan (1044) 37%,  China Life (2628) 37%, Hang Lung Ppty (101) 34%,  Shenzhou (2313) 32%,  New World Development (17) 30%,  Sunny Optical (2382) 30%, MTRC (66) 29%, Bud Apac (1876) 28%Henderson Land (12) 26%, HSBC (5) 26%, Xinyi Solar (968) 26%, Hang Seng Bank (11) 25%,  Wharf REIC (1997) 25%.
 
RESULTS after market
HENDERSON INV(00097.HK)  announced interim result ended June 2021. 
The revenue rose 1.7% year on year to HK$895 million. The net profit amounted to HK$30 million, down 37.5% year on year. EPS was HK1 cent. An interim dividend of HK1 cents was declared against a dividend of HK1 cent in the corresponding period of the previous year.

GRAND BAOXIN(01293.HK)  announced interim result ended June 2021. The net profit amounted to RMB393 million, up 324.1% yearly. EPS  was RMB0.14. No dividend was declared.

ENN ENERGY(02688.HK)  Short selling $70.29M; Ratio 9.938%   announced interim result ended June 2021. The revenue rose 30.7% year on year to RMB41.232 billion. The net profit amounted to RMB3.765 billion, up 39.8% year on year. EPS  was RMB3.34. An interim dividend of HK$0.59 was declared, against no dividend in the year-ago period.

SMOORE INTL (06969.HK)   announced interim result ended June 2021. The adjusted net profit was  RMB2.975 billion, representing an increase of 127.5% yearly.  EPS  was RMB48.45 cents. An interim dividend of HK21 cents per share was  declared, against no dividend in the corresponding period of the  previous year.

CROSS-HAR(HOLD)(00032.HK)   announced interim result ended June 2021.  The revenue declined 9.3% year  on year to HK$340 million. The net profit amounted to HK$446 million,  up 142.1% year on year. EPS  was HK$1.2. A second quarterly interim dividend of HK6 cents was  declared, flattish against the corresponding period of previous year.  The  company further remarked that the toll revenue of West Harbour Tunnel  (“WHT”) increased by 8.8% to HK$788 million as compared to the last  corresponding period, because of the increase in traffic of the tunnel  by 10.6%.

WUXI BIO (02269.HK)  Short selling $448.42M; Ratio 19.283%     unveiled the interim results for the six months ended June 30, 2021.  The revenue increased by 126.7% yearly to RMB4.407 billion. The net  profit increased by 150.3% yearly to approximately RMB1.842 billion. EPS was RMB0.44. No dividend was declared.

GUOTAI JUNAN I (01788.HK) announced interim result ended June 2021. 
The net profit amounted to HK$938 million, up 54.8% yearly.  EPS  was HK9.77 cents. An interim dividend of HK5 cents was declared, against HK3.4 cents in the corresponding period of the previous year.

TONGCHENG-ELONG(00780.HK)  Short selling $26.10M; Ratio 21.341%     announced interim result ended June 2021.
The revenue rose 70.13% year  on year to RMB3.752 billion. The net profit amounted to RMB461 million,  compared to a loss of RMB903,000 for the corresponding period of  previous year. EPS was RMB0.21. No dividend was declared.TINGYI(00322.HK) announced interim result ended June 2021.  The revenue rose 7.5% year on year to RMB35.396 billion. The net profit amounted to RMB2.035 billion, down 14.5% year on year.
EPS was RMB36.18 fen. A special interim dividend of US6.88 cents per ordinary share was declared.



AFTER MARKET NEWS

NEW WORLD DEV (00017.HK)  Short selling $22.99M; Ratio 30.019%   said it had repurchased 282,000 shares through the Stock Exchange today (23 August)
, involving more than $10.434 million.

HSBC announced that Diana Cesar, HSBC Holdings plc's General  Manager and Chief Executive for Hong Kong, will replace Louisa Cheang as  HANG SENG BANK (00011.HK) 's Director and Chief Executive with effect from 1 September. 
HSBC has kicked off the recruitment of its Hong Kong Chief Executive. Luanne  Lim, HSBC's Chief Operating Officer in Hong Kong, will serve as the  bank's Acting Chief Executive during the recruitment period.

XTEP INT'L (01368.HK)  Short selling $75.62M; Ratio 17.090%   China's domestic brand sales have been shored up by the young generation's awareness of, 
recognition of and confidence in the "guochao" wave, opined Chairman and CEO Ding Shui Po.  The sportswear maker will start exploring the markets by store opening in tier-1 and tier-2 cities for the second half of 2021, he furthered.

HANG SENG BANK (00011.HK)  Short selling $34.35M; Ratio 25.218%   announced that Louisa Cheang will be re-posted to The Hongkong and Shanghai Banking Corporation Limited
and will cease to be executive director, vice-chairman and chief executive of the bank, all with effect from 1 September 2021.  Diana Cesar, currently group general manager of HSBC Holdings plc and chief executive officer, Hong Kong of The Hongkong and Shanghai Banking Corporation Limited, will be appointed as executive director and chief executive of the Bank, both with effect from 1 September 2021.


Regional Markets

Australia
Market opened higher and touched 4,490 in early trades before tending lower to 7,460 late morning. Flash PMI data was weaker that forecast. ASX200 then trended higher again and touched 7,496 around 1pm.  It then eased back to trade7,480/90 for the rest of the afternoon to close +29pts (+0.4%) @ 7,490.
Strength in Tech and Property offset weakness in Consumer Staples and Energy. Earnings still in focus; Sonic Healthcare, Nib, Ampol weak after releasing earnings and has bid $2bn for New Zealands Z Energy. Charter Hall and latitude rose.
Sentiment mixed with more resentment over the lockdowns as NSW reports 818 new covid cases. PM Morrison says lockdowns are not sustainable and that Australians will have to live with covid going forward.
Manufacturing Flash PMI Aug 51.7 vs 56.9 Jul (F/cast 57)
Services Flash PMI Aug 43.3 vs 44.2 Jul (F/cast 42)
Composite Flash PMI Aug 43.5 vs 45.2 Jul (F/cast 43)
Japan
A strong open with Shippers leading but a good rebound in Auto’s, and their supply chain names. Rubber products +VE along. Relative laggards are Mining, airlines and rail names. Mizuho weak after another outage. The flash PMI data showed new orders falling -VE.
Nikkei opened higher at 27,193 and has worked better through the day but seeing resistance as it approached 27,500 level in the am session.  PM saw further  strength and it managed to break through to 27,542 but unable to hold and closed +481pts (+1.8%) @ 25,494
Topix traded in a similar fashion, opened 1,897 and worked better but seeing resistance approaching 1,920. PM traded sideways and closed+34pts (+1.8%) @ 1,915
Manufacturing Flash PMI Aug 52.4 vs 53.0 Jul (F/cast 52.8)
Services Flash PMI Aug 43.5 vs 46.4 Jul revised (F/cast 46)
Composite Flash PMI Aug 45.9 vs 48.8 Jul (F/cast 48.5)
S Korea
KDCA reported 1,418 new covid cases (-210 DoD)
First 20 day export data was strong +VE for Tech.
Kospi opened higher at 3,087 but initially sold down to 3,064 before reversing and trended hihger before seeing resistance around 3,106 level but pushed higher in the afternoon and peaked at 3,111 before selling off in the last 30 mins and closed +30pts (+1%) @ 3,090. Volumes light
Kosdaq traded in a similar fashion opened 978, traded down to 970 but then worked better day high was 996, eased back at the end to close 993.
Data
First 20 days Exports +40.9% YoY, Average Exports +31.5% YoY and Chip Exports +39.8%
Taiwan
Government rolls out domestically produced vaccine shots. Tech sector seeing good interest along with Shippers. Telcos weak. TSMC outlines plan for speeding up plant construction in US.
Taiex opened higher at 16,460 and worked higher but seeing resistance 16,785 level. Closed +400pts (+2.5%) @ 16,742
T/O was US$13.01b vs US$12.42b Friday
CECC reported 4 new covid cases (2 imported)

CONNECT FLOWS  
Shanghai
Northbound RMB 56,819m Sell 28,181m vs 28,638m Buy
Southbound HK$  19,029m  Sell  9,834m vs   9,195m Buy
Shenzhen
Northbound RMB 74,591m Sell 36,609m vs 37,983m Buy
Southbound HK$  19,238m  Sell   9,088m vs 10,150m Buy

Active Heavyweights
HKEX (00388.HK)  Short selling $612.62M; Ratio 19.976%    closed at $489.4, up 5.7%
BABA (09988.HK) Short selling $1.73B; Ratio 31.968% closed at $152.1, down 3.7%
TENCENT (00700.HK) Short selling $195.04M; Ratio 1.753% closed at $433.8, up 2%
PING AN (02318.HK) Short selling $157.50M; Ratio 16.217% closed at $63.4, down 1.6%
MEITUAN (03690.HK) Short selling $337.69M; Ratio 8.654% closed at $195.4, up 1%
AIA (01299.HK) Short selling $214.62M; Ratio 28.166% closed at $95.75, up 0.2%

HSI & HSCEI Constituents on Move:
EVERGRANDE (03333.HK)  Short selling $60.90M; Ratio 22.550%   closed at $4.31, down 12.4%
JD HEALTH (06618.HK) Short selling $152.33M; Ratio 24.143% closed at $64.15, up 10.4%
EVERG SERVICES (06666.HK) Short selling $8.96M; Ratio 3.039% closed at $5.47, down 9.1%
WUXI BIO (02269.HK) Short selling $253.29M; Ratio 18.950% closed at $113, up 7.3%
HANSOH PHARMA (03692.HK) Short selling $4.38M; Ratio 6.613% closed at $22.55, down 7.2%
ALI HEALTH (00241.HK) Short selling $185.22M; Ratio 41.676% closed at $10.58, up 6.1%
CG SERVICES (06098.HK) Short selling $23.53M; Ratio 6.585% closed at $57.15, up 5.9%
NTES (09999.HK) Short selling $39.74M; Ratio 12.331% closed at $126.8, up 5.7%
ANTA SPORTS (02020.HK) Short selling $89.28M; Ratio 13.685% closed at $170.1, up 5.7%
CHINA GAS HOLD (00384.HK) Short selling $19.34M; Ratio 11.860% closed at $23.6, up 4.9%
WH GROUP (00288.HK) Short selling $27.21M; Ratio 10.601% closed at $6.12, up 4.8%
BYD COMPANY (01211.HK) Short selling $280.17M; Ratio 16.865% closed at $262.4, up 4.8%
CM BANK (03968.HK) Short selling $579.16M; Ratio 47.680% closed at $67.6, up 4.4%
CSPC PHARMA (01093.HK) Short selling $40.99M; Ratio 13.297% closed at $10.54, up 3.9%
XIAOMI (01810.HK) Short selling $241.55M; Ratio 10.395% closed at $24.35, up 3.8%
BANKCOMM (03328.HK) Short selling $67.69M; Ratio 37.271% closed at $4.37, down 3.7%
XINYI SOLAR (00968.HK) Short selling $75.89M; Ratio 20.929% closed at $15.9, up 3.7%
TECHTRONIC IND (00669.HK) Short selling $70.77M; Ratio 23.966% closed at $166.8, up 3.3%
HENGAN INT'L (01044.HK) Short selling $25.79M; Ratio 33.153% closed at $42.35, up 3%
PETROCHINA (00857.HK)  Short selling $11.55M; Ratio 7.788%   closed at $3.07, up 3%

HSMI & HSSI Constituents on Move:
HUANENG POWER (00902.HK)  Short selling $59.19M; Ratio 9.177%   closed at $4.01, up 22.6%, hitting new high
CGN NEW ENERGY (01811.HK) Short selling $2.18M; Ratio 1.298% closed at $4.35, up 21.2%, hitting new high
CHINA POWER (02380.HK) Short selling $12.89M; Ratio 2.395% closed at $2.77, up 19.4%, hitting new high
DONGYUE GROUP (00189.HK) Short selling $15.05M; Ratio 3.173% closed at $21.55, up 16.7%, hitting new high
CR HOLDINGS (01911.HK) Short selling $1.21M; Ratio 5.332% closed at $19.76, up 16%
ZAI LAB (09688.HK) Short selling $2.21M; Ratio 10.646% closed at $1,082, up 15.4%
DATANG POWER (00991.HK) Short selling $290.10K; Ratio 0.563% closed at $1.45, up 14.2%, hitting new high
GENSCRIPT BIO (01548.HK) Short selling $22.85M; Ratio 5.495% closed at $35.6, up 13.6%
CHINA RES POWER (00836.HK) Short selling $69.81M; Ratio 6.944% closed at $18.44, up 13.3%, hitting new high
JHBP-B (06998.HK) Short selling $1.57M; Ratio 6.334% closed at $11.2, up 13.1%
CANSINOBIO (06185.HK) Short selling $126.33M; Ratio 38.292% closed at $303.6, up 12.4%
FRONTAGE (01521.HK) Short selling $1.01M; Ratio 1.505% closed at $5.09, up 11.9%
CHINA LONGYUAN (00916.HK) Short selling $21.83M; Ratio 8.859% closed at $14.64, up 11.2%
AVICHINA (02357.HK) Short selling $13.08M; Ratio 6.170% closed at $5.86, up 10.8%
SINOFERT (00297.HK) Short selling $2.73M; Ratio 22.128% closed at $1.6, up 10.3%


RESULTS at lunchtime

CHINA OVERSEAS (00688.HK)  Short selling $25.60M; Ratio 13.616%  announced interim result ended June 2021.
Net profit amounted to RMB20.779 billion, up 1.2% yearly.  EPS was RMB1.9. The interim DPS remained at HK45 cents.  Profit attributable to equity shareholders of the Company after deducting net gains after tax arising from changes in fair value of investment properties amounted to RMB19.23 billion, an increase of 10.9% annually.

XTEP INT'L (01368.HK)  Short selling $6.22M; Ratio 5.835%   announced interim result ended June 2021. Net profit amounted to RMB427 million, up 72% yearly. EPS  was RMB17.09 cents. An interim dividend of HK11.5 cents per share was declared, against HK6.5 cents in the corresponding period of the previous year. The interim dividend will be payable in cash with a scrip dividend alternative.

CHINA LILANG(01234.HK)  Short selling $255.29K; Ratio 14.255%   announced interim result ended June 2021.  The revenue rose 23.9% year on year to RMB1.354 billion. The net profit amounted to RMB271 million, up 0.9% year on year.
EPS was RMB22.7 fen. A total dividend of HK18 cents was declared, including an interim dividend of HK13 cents and a special dividend of HK5 cents.


MARKET NEWS

Rumor spirals online that Alibaba Cloud leaked the registration information saved by users to a third-party partner of the company.
The complaint should be dated back around "Double 11" shopping festival in 2019 according to Alibaba Cloud's self-inspection, said the company.  The complaint involved a telemarketing staff of Alibaba Cloud who had violated the company's discipline by seizing customers' contacts given work convenience and sharing the same to a distributor's employee. Alibaba Cloud said it has dealt with the case sternly pursuant to its mechanism, and followed the requirement of Zhejiang Province's MIIT in rectifying the insufficiency of staff management.

AIA (01299.HK)  Short selling $214.62M; Ratio 28.166%, in ally with China Post Group and PSBC (01658.HK) Short selling $59.10M; Ratio 40.707%   etc., is going to explore cooperation in product distribution in appropriate China's cities or provinces 
where AIA has operations, 21st Century Business Herald reported.  AIA is preparing to build a branch in Hubei, report furthered. For its future expansion plan in the Chinese market, the insurer has picked over a dozen provinces for priority expansion, and it may extend presence into 10 new regions in future.

Joseph Yam, a member of the Executive Council, suggested that allowing quotations and trading in RMB in the Hong Kong stock market may be a useful method to further internationalize RMB, reported RTHK.   Yam remarked that if all 50 or around 60 HSI constituent stocks can be traded in RMB, investors will enjoy the flexibility to choose between HKD or RMB when purchasing or selling stocks.

FAW Group announced to have formed a strategic alliance with Wanda Group, which entails in-depth collaborations between the two parties on forging automobile service ecology, developing brand marketing, channel expansion and cross-sector collaborative operation models.

BABA-SW (09988.HK)  Short selling $1.73B; Ratio 31.968%   Chairman and CEO Daniel Zhang issued an internal letter, revealing the management shuffle within the group's various business branches, Chinese media reported.  As approved by the board of directors, Yu Yongfu was appointed as the CEO of Alibaba's Local Life Service, as well as the President of Hyperlocal Retail Business Group upon restructuring, reporting to Daniel Zhang.  Meanwhile, Alibaba's partner Sophie Wu is set to be on board of  Ant Group, yet her position has not been disclosed in the letter.

Hangzhou Lotus Technology Service Co., Ltd. has recently been founded with a register capital of RMB10 million,
according to data from Tianyancha App. The new company's business focus covers AI application software development, semiconductor equipment sales, design and service of IC chips as well as NEV sales, etc.  The newly established company is fully owned by Wuhan Lotus Technology Co., Ltd., in which GEELY AUTO (00175.HK)'s controlling shareholder Zhejiang Geely Holding Group holds a 60% stake.

Hang Seng Indexes Company today launched two new indexes, i.e. Hang Seng Shanghai-Shenzhen-Hong Kong (Selected Corporations) High Dividend Yield Index, and Hang Seng Shanghai-Shenzhen-Hong Kong Generation Z Index.   
The new indexes are calculated and disseminated in real-time at two-second intervals.

WH GROUP (00288.HK) made further clarifications and rebuttals on certain media reports  regarding allegations made by Wan Hongjian (a former director of the  company who was removed for misconduct) against the group and its  chairman Wan Long for obtaining fund from the company and tax evasion.
The  company clarified that save for normal operating business and  investment needs the Company has not transferred funds from Shuanghui Development to offshore market.  Moreover,  Wan Hongjian alleged that Wan Long (together with his secretary)  obtained bonus of over HK$5 billion from the Company following the  completion of the acquisition of Smithfield Foods, Inc. in 2013. The  company clarified that it issued 570 mn shares and 250 mn shares to the wholly-owned subsidiaries of the two people. The estimated  fair value of these share awards on the date of grant was approx US$597mn (HK$4.66 bn). In 2019, 350 mn of  the above granted shares were transferred to High Zenith Limited.

ND PAPER (02689.HK)  Short selling $2.35M; Ratio 15.352%   announced that the profit attributable to equity holders of the company for the year ended 30 June 2021 is expected to increase not less than 50% as compared to the last year,
mainly due to the substantial increase of the revenue and gross profits of the group.

The abrupt U-turn of HKSAR Government to mount tighter entry quarantine policy last week has triggered outrage amongst travelers and business sector. 
Edward Yau, Secretary for Commerce and Economic Development, explained during a Bloomberg TV interview that the Government is now wielding safety strategy which must keep Covid at bay before discussing blanket border or economy reboot.Yau accentuated that resuming border with China remains one of the Government's top tasks.

EVERGRANDE (03333.HK)  Short selling $60.90M; Ratio 22.550%   's talks with YUEXIU PROPERTY (00123.HK)  Short selling $1.86M; Ratio 16.680% to sell the whole block of Chin Evergrande Centre in Wan Chai were drawing to a close,
Sing Tao Daily citing sources. The purported selling price would be HK$10.5 billion.  In November 2015, EVERGRANDE had bought from CHINESE EST H (00127.HK) the MassMutual Tower, the former building name of China Evergrande Centre, at HK$12.5 billion.

XINYI GLASS (00868.HK) announced that the company repurchased 2 million shares 
on 20 August 2021, involving around $55.5246 million.

Mi Apartment (Beijing) Commercial Operation Management Co., Ltd. was established on 20 August
, with a registered capital of RMB700 million and a legal representative named He Yong, Chinese media citing Tianyancha's data. The new entity is engaged in property management and other services.
The entity is wholly-owned by Xiaomi Communications Co., Ltd.
and will be primarily used as a staff dormitory.

AIPARK, an operator of a Chinese smart car parking platform, announced that the company received the strategic investment of XIAOMI-W (01810.HK),
with Lighthouse Capital being the exclusive financial advisor. This investment is deemed to help nudge smart intercommunication and the collaboration between Xiaomi smart ecology and multi-scenario businesses.

TENCENT (00700.HK)'s Tencent Cloud announced to support the South Korean Android app store ONE Store on transferring mobile games onto the gaming simulator platform
-- GameLoop, so as to allow Korean players to enjoy a richer gaming experience on their PC.

U.S. payment platform PayPal (PYPL.US)   announced that U.K. users will be allowed to trade and hold cryptocurrency on the platform starting from this week,
marking the first time for the company to extend such service to outside of the US. UK users will be able to purchase bitcoin, ether, litecoin and bitcoin cash through PayPal wallets or the mobile application.

BABA-SW (09988.HK)  Short selling $1.73B; Ratio 31.968%   is in the process of internal R&D of an e-commerce product called "Kuaimai"
, which allows users to briskly acquire relevant information about products through keyword search, reported Tech Planet.   "Kuaimai" is currently presented in the form of a mini program and is expected to be applicable on third party platforms such as Douyin.

Primary home sales were vibrant over the weekend (21-22 August). SHK PPT (00016.HK) Short selling $25.58M; Ratio 23.756% 's Wetland Seasons Bay sold out 302 units in first log. 
The 4th price list for 160 units was hence rolled out given huge market demand, said SHK PPT Deputy Managing Director Victor Lui.  As for the second-hand market, Centaline's ten major housing estates tracked 18 deals, up 1.6 times weekly.

STANCHART (02888.HK)  Short selling  $811.26K;  Ratio 20.197%  announced the repurchase of 1.234 million shares last Friday
(20  August) at a weighted average price of GBX446.8453 each, involving  GBP5.5141 million.


PRE MARKET NEWS

Financial Secretary Paul Chan expressed that Hong Kong economy has  been seeing green shoots and improvement across different industries.  
However, Chan remarked that it has not yet returned to the pre-COVID  level as in early last year.   Chan expected the effect of  consumer voucher scheme to manifest in August, further propelling  private consumption and the betterment of certain relevant sectors,  including retails, hotels and dinning.  On another note, Chan  stressed the importance of vaccination, stating that getting vaccinated  could provide better protection for every individuals as well as a solid  foundation for the resuscitation of Hong Kong economy.

The People's Bank of China announced administrative punishments on BANKCOMM (03328.HK)  Short selling $67.69M; Ratio 37.271%, CCB (00939.HK)  Short selling $173.47M; Ratio 32.131%, HUAXIA BANK (600015.SH) , INDUSTRIAL BANK (601166.SH)  and PSBC (01658.HK)  Short selling $59.10M; Ratio 40.707% . 
These lenders were fined RMB15.41 million for non-compliance with account management rules. Of which, PSBC, HUAXIA BANK, BANKCOMM and INDUSTRIAL BANK were fined RMB11.53 million for illegal collection of, provision of and inquiry about credit information.

The Guangzhou SAMR reportedly found the non-compliant use of Sunset Yellow FCF by NAYUKI (02150.HK) , Heytea and other tea chains. 
In response, NAYUKI said it has never added the synthetic food dye to its products.  NAYUKI's Wampi and Indian gooseberry fruit drinks were free from five artificial colors, namely Sunset Yellow FCF, Tartrazine, Carmine, Amaranth and Brilliant Blue FCF, according to spot checks run by the regulatory department.

Hong Kong's chief executive Carrie Lam expressed during the Policy Address consultation that through efforts of the Lantau Tomorrow project, development of northern New Territories and release of the commercial lands of private developers, Hong Kong will have sufficient land supply.  
Lam remarked that the Housing Department is looking into the feasible methods to expedite the construction of residential properties, such as compression of procedures of planning, land resumption and construction.  In my  view all they need is to add a completion long stop date into the planning permission at present there is only a start date, so developers do some ground works and then leave the site until conditions improve 

SINOPEC SEG (02386.HK) announced interim result ended June 2021.
The total revenue rose 12.8% year on year to RMB26.851 billion. The net profit amounted to RMB1.347 billion, up 6.9%.
EPS was RMB0.3. An interim dividend of RMB0.091 was declared.

The Centre for Health Protection (CHP) of the Department of Health (DH) announced that as of 0.00am, August 22, the CHP was investigating five additional confirmed cases of coronavirus disease 2019 (COVID-19). The newly reported cases are imported cases. 
The government made a restriction-testing declaration last night for the building where one of the patients resided in Hong Kong (Block 1, Bo Shek Mansion, 328 Sha Tsui Road, Tsuen Wan). As at 12am today, around 570 residents had undergone testing. No confirmed cases were found.

Shenzhen Stock Exchange has halted BYD Semiconductor's
IPO review for the ChiNext Board as the law firm advising the company on the deal is now under investigation
of China Securities Regulatory Commission (CSRC), according to the data disclosed by the Exchange.

TENCENT (00700.HK) filed a lawsuit against Douyin for the latter's alleged copyright infringement upon its exclusive TV series "Crime Crackdown", 
according to Douyin's official Weibo statement.  The video-sharing app was indeed an official partner with the series, and it has timely dealt with the infringing videos uploaded by users.  Specifically, Douyin took down more than 8,000 videos owing to the complaint.

Inactivated Covid-19 vaccines developed by China would provide patients with good protection against the Delta variant, 
The Health Times citing Guangdong CDC's key research findings as published by China CDC Weekly.  For full-vaccinated patients aged above 18, the domestic vaccines would offer about 78% protection to those with mild disease, 70% protection to those in normal condition, and 100% protection to those critically ill.

Responding to a recent rumor circulating online that certain related personnel had taken stake in Ant Group, the group shattered the rumor as false
and that the company had been operating in strict compliance to the regulations of Hong Kong and China during the IPO process.

TRAD CHI MED (00570.HK)  announced interim result for the six months ended 30 June 2021.
Net profit amounted to RMB930 million, up 27% yearly. EPS was 18.46 fen. Interim DPS was HK6.66 cents.

CHINA AOYUAN (03883.HK) announced the interim results for the six months ended 30 June 2021.  The revenue for the period amounted to RMB32.51 billion, up 15.1% YoY.  Net profit slumped 13.6% to RMB2.089 billion. EPS was RMB77.44 fen. No interim dividend was declared.

GOLDWIND (02208.HK) announced the interim results for the six months ended 30 June 2021.  
The revenue for the period amounted to RMB17.853 billion, down 7.8% YoY.  Net profit surged 45% to RMB1.849 billion. EPS was RMB41 fen. No interim dividend was declared.

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