$680B Shrs Transfer From JPM to HSBC in CCASS, Involving 1,400 Species; Move Likely Related to Biz Outsourcing

　　Local press reported that JPMorgan indicated in March this year its intention to outsource its Hong Kong local custody business to HSBC, and its Taiwan local custody business to Standard Chartered.

　　According to the Stock Exchange's Central Clearing and Settlement System (CCASS) record of holdings, JPMorgan's Hong Kong stock positions have been transferred out on a large scale this Monday (22 July), involving nearly 1,400 species of shares and a value of $680 billion. Meanwhile, HSBC's position increased significantly on the same day, which is presumed to be related to the changes in the custodian's positions.

　　Relevant shares include TENCENT (00700.HK) -0.800 (-0.218%) Short selling $633.07M; Ratio 14.167% , of which JPMorgan reduced its position by 3.8%, involving about $133.3 billion. Position in BABA-SW (09988.HK) +0.450 (+0.607%) Short selling $359.02M; Ratio 16.416% was reduced by 2.8%, involving about $42.8 billion. Other shares include AIA (01299.HK) -1.300 (-2.421%) Short selling $324.29M; Ratio 17.872% , MEITUAN-W (03690.HK) -2.700 (-2.286%) Short selling $990.94M; Ratio 29.021% , NTES-S (09999.HK) +4.600 (+3.233%) Short selling $66.68M; Ratio 11.597% , XIAOMI-W (01810.HK) -0.300 (-1.769%) Short selling $252.03M; Ratio 22.932% , BYD COMPANY (01211.HK) -6.400 (-2.685%) Short selling $435.29M; Ratio 26.200% , and PING AN (02318.HK) -0.150 (-0.438%) Short selling $230.47M; Ratio 22.771% . After the transfer, the value of JPMorgan's position in CCASS is approximately $1.37 trillion.

　　Local custodian business mainly involves the processing of client transactions, with the broker handling and providing book-keeping services when client funds enter the market.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-23 16:25.)