US stocks ended a three-day losing streak overnight (19th), with the three major indices closing up about 0.2%. This morning (20th), the HSI opened 284 pts higher and fluctuated near session highs during the morning session. It closed at 25,786 at midday, up 291 pts or 1.14%, with half-day turnover at HKD144.106 billion. The HSCEI closed the half-day at 8,591, up 120 pts or 1.42%, while the HSTECH closed at 4,754, up 72 pts or 1.54%.

Among major tech stocks, KUAISHOU-W (01024.HK) -3.680 (-9.735%) Short selling $1.81B; Ratio 30.946% slumped 9.74%, making it the worst-performing blue chip, after the company reported a 30.3% YoY drop in adjusted profit for 2Q26 and Daiwa downgraded the stock to Hold. TENCENT (00700.HK) +8.200 (+1.834%) Short selling $607.92M; Ratio 12.875% rose 1.83%; BABA-W (09988.HK) +3.000 (+2.415%) Short selling $779.84M; Ratio 16.620% gained 2.42% ahead of results; BIDU-SW (09888.HK) +3.000 (+3.335%) Short selling $169.28M; Ratio 24.378% rebounded 3.34%; and JD-SW (09618.HK) +3.100 (+2.753%) Short selling $155.88M; Ratio 28.686% added 2.75%.

Among pharmaceutical stocks, SBP GROUP (01177.HK) +0.775 (+16.180%) Short selling $201.69M; Ratio 15.727% surged 16.18%, becoming the best-performing blue chip at midday. The company posted a 1.4% increase in interim profit, far exceeding expectations, and received bullish comments from multiple brokers. WUXI BIO (02269.HK) +3.100 (+6.472%) Short selling $345.84M; Ratio 16.950% , INNOVENT BIO (01801.HK) +5.250 (+5.344%) Short selling $236.82M; Ratio 17.644% , WUXI APPTEC (02359.HK) +9.800 (+4.851%) Short selling $450.20M; Ratio 38.583% , HANSOH PHARMA (03692.HK) +1.480 (+4.488%) Short selling $72.29M; Ratio 28.186% , and BEONE MEDICINES (06160.HK) +8.200 (+3.667%) Short selling $173.61M; Ratio 25.636% rose more than 3% to over 6%. HENGRUI PHARMA (01276.HK) -2.700 (-4.914%) Short selling $275.38M; Ratio 37.288% bucked the market trend and fell 4.9% after announcing a proposed share buyback of up to RMB2 billion for its A shares. JPM said Hengrui's 2Q revenue and profit both missed its expectations by nearly 10%, and expected the market to cut revenue and earnings forecasts. Nomura said Hengrui's 2Q sales and net profit were far below expectations.

Moderna, Inc. (MRNA.US) soared 176% overnight after its mRNA cancer vaccine achieved a major breakthrough in late-stage clinical trials. The news boosted innovative drug concept stocks. EVEREST MED (01952.HK) +16.200 (+68.067%) Short selling $216.27M; Ratio 8.095% skyrocketed 68.07% to HKD40 at midday, with turnover of HKD2.672 billion. CANSINOBIO (06185.HK) +11.980 (+51.328%) Short selling $45.44M; Ratio 4.740% jumped 51.33%; 3D MEDICINES (01244.HK) +1.210 (+55.505%) surged 55.5%; GENSCRIPT BIO (01548.HK) +4.360 (+14.850%) Short selling $306.17M; Ratio 11.167% rose 16.96%; and CSPC PHARMA (01093.HK) +1.170 (+13.472%) Short selling $283.59M; Ratio 10.252% climbed 13.47%.

Among blue chips, AIA (01299.HK) -0.950 (-1.301%) Short selling $303.14M; Ratio 26.541% rose 1.3% after G Sachs said the company's value of new business in 2Q slightly missed expectations. CMOC (03993.HK) +0.420 (+2.545%) Short selling $73.27M; Ratio 18.951% gained 2.55% after interim profit surged 86% and the company resumed interim dividend payments. POP MART (09992.HK) +3.000 (+1.993%) Short selling $215.97M; Ratio 23.978% rose 1.99% ahead of results. CHINA UNICOM (00762.HK) +0.220 (+4.004%) Short selling $10.80M; Ratio 4.363% rebounded 4%. ZTO EXPRESS-W (02057.HK) -9.300 (-5.284%) Short selling $56.22M; Ratio 19.778% fell another 5.28% after results. HENGAN INT'L (01044.HK) -0.800 (-3.317%) Short selling $46.50M; Ratio 51.630% dropped more than 3% after Citi cut its TP to HKD22.8.

Spot gold once broke above USD4,500 per ounce, lifting gold mining stocks. ZIJIN GOLD INTL (02259.HK) +20.000 (+15.004%) Short selling $266.12M; Ratio 13.720% surged 15%; ZIJIN MINING (02899.HK) +2.240 (+6.418%) Short selling $361.57M; Ratio 20.689% rose 6.42%; while LINGBAO GOLD (03330.HK) +1.840 (+8.348%) Short selling $29.09M; Ratio 4.863% and SD GOLD (01787.HK) +1.980 (+8.291%) Short selling $97.91M; Ratio 12.512% gained more than 8%.

Among individual stocks, KINGSOFT CLOUD (03896.HK) +0.505 (+8.986%) Short selling $40.82M; Ratio 6.305% rose 8.99% after interim loss narrowed to RMB440 million. MINIMAX-W (00100.HK) +26.000 (+8.892%) Short selling $154.82M; Ratio 7.329% gained 8.89% after the company launched the Agent workstation MiniMax Design. (mn/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-20 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)