＜H Shrs＞HSI Down 228 pts at Close, But Up 0.5% for Whole Wk; CN Financials Wane, as GALAXY ENT Dives 3%+

　　HSI closed at the day low of 17,799, down 228 points or 1.27%, losing the 18,000-point line and ending a four-day winning streak. HSCEI declined 88 points or 1.37% to close at 6,382. HSTECH reduced 52 points or 1.45% to close at 3,596. The total market turnover for the whole day was $90.321 billion.

　　For the whole week, HSI rose 61 points or less than 0.5%, HSCEI elevated 61 points or less than 0.5%, and HSTECH advanced 42 points or 1.2%.

　　Auto stocks were weak after the EU started imposing tariffs on China-made electric vehicles. GEELY AUTO (00175.HK) -0.270 (-3.103%) Short selling $76.11M; Ratio 20.266% descended 3.1%. Still, Citi raised its target price on GEELY to $13.98, citing the group's all-round market share increase. XPENG-W (09868.HK) -0.950 (-3.030%) Short selling $113.09M; Ratio 32.934% fell 3%, while BRILLIANCE CHI (01114.HK) -0.140 (-3.526%) Short selling $81.21M; Ratio 21.782% declined 3.5%. LI AUTO-W (02015.HK) -1.550 (-1.918%) Short selling $188.36M; Ratio 23.506% , NIO-SW (09866.HK) -0.300 (-0.798%) Short selling $24.57M; Ratio 43.933% and EVERG VEHICLE (00708.HK) -0.005 (-1.235%) each shed 0.8% to 1.9%. BYD COMPANY (01211.HK) +0.400 (+0.171%) Short selling $410.34M; Ratio 33.122% edged up 0.2% as Macquarie raised its target price to $300, citing increased certainty over EU tariff hikes.

　　Tech stocks were under pressure, with TENCENT (00700.HK) -2.600 (-0.680%) Short selling $864.03M; Ratio 21.528% down 0.7% and BABA-SW (09988.HK) -0.250 (-0.342%) Short selling $325.32M; Ratio 14.600% down 0.3%. XIAOMI-W (01810.HK) -0.220 (-1.306%) Short selling $126.49M; Ratio 14.963% retreated 1.3%, as the company's “XiaoAI” voice assistance logged a 10% rise in next-day user retention after the product connected to foundation models. MEITUAN-W (03690.HK) -0.600 (-0.501%) Short selling $673.01M; Ratio 24.058% , KUAISHOU-W (01024.HK) -0.050 (-0.112%) Short selling $259.70M; Ratio 20.017% and JD-SW (09618.HK) -0.700 (-0.677%) Short selling $57.11M; Ratio 11.107% dipped 0.1% to 0.7%.

　　NTES-S (09999.HK) -2.000 (-1.355%) Short selling $87.14M; Ratio 14.170% down 1.4%. Macquarie remained bullish on the overall online game industry and slightly reduced its target price on NTES to $225. BILIBILI-W (09626.HK) +0.300 (+0.239%) Short selling $84.53M; Ratio 25.548% incremented 0.2%. SENSETIME-W (00020.HK) -0.260 (-16.149%) Short selling $140.41M; Ratio 5.229% released version 5.5 of its SenseNova foundation model, named “SenseNova 5o”, but its share price cratered 16.2%.

　　Shanghai is holding the World AI Conference (WAIC), but AI concept stocks receded. UBTECH ROBOTICS (09880.HK) -25.000 (-16.667%) Short selling $178.40K; Ratio 0.335% crashed 16.7%, FOURTH PARADIGM (06682.HK) -2.800 (-5.298%) Short selling $127.43K; Ratio 0.759% plummeted 5.3%, and EDIANYUN (02416.HK) -0.090 (-4.891%) reduced 4.9%. BIDU-SW (09888.HK) -0.900 (-1.031%) Short selling $104.79M; Ratio 30.808% reduced 1% after its Ernie Intelligent Agent Platform opened access to Ernie Foundation Model version 4.0 for free.

　　In financials, HSBC HOLDINGS (00005.HK) -1.050 (-1.525%) Short selling $260.20M; Ratio 16.024% decreased 1.5%. HKEX (00388.HK) -4.600 (-1.844%) Short selling $322.74M; Ratio 20.342% retreated 1.8% as the trading volume at its London Metal Exchange (LME) ascended 27% in the last quarter to a 10-year high. AIA (01299.HK) -1.050 (-1.989%) Short selling $180.51M; Ratio 8.324% reduced nearly 2%.

　　Chinese financials waned, with CCB (00939.HK) -0.180 (-3.249%) Short selling $812.90M; Ratio 23.490% down 3.2%, as CM BANK (03968.HK) -0.950 (-2.782%) Short selling $134.56M; Ratio 24.121% , BANK OF CHINA (03988.HK) -0.080 (-2.062%) Short selling $402.96M; Ratio 33.942% , ICBC (01398.HK) -0.130 (-2.692%) Short selling $601.51M; Ratio 21.080% and ABC (01288.HK) -0.090 (-2.586%) Short selling $213.93M; Ratio 41.381% all plunged over 2%. CHINA LIFE (02628.HK) -0.200 (-1.845%) Short selling $53.36M; Ratio 25.114% and PING AN (02318.HK) -0.550 (-1.501%) Short selling $165.60M; Ratio 21.196% each dived 1.8% and 1.5%.

　　GALAXY ENT (00027.HK) -1.200 (-3.292%) Short selling $50.23M; Ratio 11.271% slumped 3.3%, making it the worst-performing blue chip. HANSOH PHARMA (03692.HK) +0.660 (+4.130%) Short selling $17.60M; Ratio 24.419% was the best-performing blue chip, hiking 4.1% amid the falling market trend.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-05 16:25.)