CN Relaxes Duty-free Allowance for Residents Entering From HK, MO; SA SA INT'L Once Lifts 3%, But Other Retails Trade Sideways

　　Mainland China has relaxed the duty-free allowance for Mainland travellers returning from Hong Kong and Macao, but local retail stocks are generally trading sideways. SA SA INT'L (00178.HK) +0.010 (+1.220%) , which once rose 3.66% to as high as $0.85, now trades at $0.84, elevating 2.44%, with 3.71 million shares traded, with a total turnover of $3.0657 million.

　　CHOW SANG SANG (00116.HK) -0.050 (-0.693%) Short selling $793.85K; Ratio 23.691% stands now at $7.18, waning 0.42%, while CHOW TAI FOOK (01929.HK) +0.010 (+0.117%) Short selling $16.09M; Ratio 15.945% anchors now at $8.57, inclining 0.59%. WHARF REIC (01997.HK) -0.050 (-0.240%) Short selling $14.33M; Ratio 20.760% , which operates Harbour City, is now trading at $20.9, incrementing 0.24%. LINK REIT (00823.HK) +0.350 (+1.167%) Short selling $96.03M; Ratio 26.955% now prints at $30.35, lifting 1.17%.

　　Related NewsCiti Cuts SA SA INT'L (00178.HK) TP to $1.49 as Earnings Slightly Miss

　　Restaurant stocks also were not stimulated, TSUI WAH HLDG (01314.HK) -0.002 (-0.976%) earned $39.09 million for the year ended March, down 36% YoY, and its shares are now trading at $0.203, dipping 0.98%. CAFE DE CORAL H (00341.HK) +0.070 (+0.879%) Short selling $4.31M; Ratio 23.821% currently trades at $8.01, up 0.63%. LH GROUP (01978.HK) -0.020 (-2.597%) chairman Wong Kit Lung announced the closure of 4 shops next month, and the company now trades at $0.75, retreating 2.6%.

　　The Ministry of Finance (MOF), the General Administration of Customs (GAC) and the State Administration of Taxation (SAT) jointly announced that Mainland resident travellers aged 18 or above entering the Mainland border from Hong Kong and Macao will be granted duty exemption for bringing in personal baggage items of a reasonable and personal use acquired outside Hong Kong valued at or below RMB12,000.

　　At the same time, the duty-free quota of RMB3,000 for purchases of duty-free goods at arrival duty-free shops at border control points will be maintained, with a total duty-free quota of RMB15,000 in total.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-27 16:25.)