HSI Opens Down 248pts as AIA Slumps Over 6%, HSBC HOLDINGS Falls Over 1%; Gold Stocks Sought After
Complete. Here is the key summaryThe Hang Seng Index opened down 248 points, driven by declines in major stocks like AIA and HSBC. Reports of a new 20% tax on offshore insurance gains impacted the sector. Conversely, gold stocks surged as spot gold hit near two-month highs. Tech giants Alibaba and Tencent also saw losses, while Pop Mart fell after Duan Yongping reduced his stake.
US stocks' three major indices showed mixed performance, with the DJIA hitting fresh intraday and closing highs again, while the S&P 500 retreated after reaching a record peak. The HSI opened at 25,667 this morning (6th), down 248 pts or 0.96%. The HSCEI opened at 8,555, down 48 pts or 0.56%. The HSTECH opened at 4,884, down 48 pts or 0.99%.
Reports said China has started imposing a 20% personal income tax on gains from offshore insurance policies. HSBC HOLDINGS (00005.HK) -4.300 (-2.653%) Short selling $675.59M; Ratio 17.853% once plunged 7% in London overnight (5th) before closing down 4.67%. This morning, HSBC HOLDINGS (00005.HK) -4.300 (-2.653%) Short selling $675.59M; Ratio 17.853% opened down 1.54%, while AIA (01299.HK) -5.550 (-7.138%) Short selling $218.15M; Ratio 15.315% slumped 6.3% and PRU (02378.HK) -5.900 (-5.189%) Short selling $258.54K; Ratio 0.981% fell 3.25%.
Spot gold surged past USD4,200, hitting a near two-month high. LAOPU GOLD (06181.HK) +29.800 (+8.760%) Short selling $56.60M; Ratio 10.235% opened up 6.17%, ZIJIN MINING (02899.HK) +1.200 (+3.409%) Short selling $592.79M; Ratio 20.883% rose 5%, and ZIJIN GOLD INTL (02259.HK) +7.100 (+5.504%) Short selling $425.69M; Ratio 26.424% opened 7.75% higher.
Among tech stocks, BABA-W (09988.HK) -2.200 (-1.717%) Short selling $1.97B; Ratio 16.476% opened down 1.25%, TENCENT (00700.HK) -5.800 (-1.178%) Short selling $1.25B; Ratio 9.898% fell 0.24%, and BIDU-SW (09888.HK) -2.800 (-2.500%) Short selling $133.77M; Ratio 19.977% dropped 2.32%.
Among blue chips, POP MART (09992.HK) -5.400 (-3.346%) Short selling $245.49M; Ratio 23.009% opened down 3.35% after Duan Yongping reduced his stake to 5.55% due to options contracts. TECHTRONIC IND (00669.HK) -2.500 (-1.739%) Short selling $237.59M; Ratio 14.345% fell 4.94%, while SMIC (00981.HK) -2.250 (-3.309%) Short selling $347.12M; Ratio 5.235% and LENOVO GROUP (00992.HK) -0.760 (-2.892%) Short selling $706.20M; Ratio 20.015% dropped more than 2%. BEONE MEDICINES (06160.HK) +1.500 (+0.755%) Short selling $255.71M; Ratio 28.958% slipped 0.35% despite the company's interim net profit surging 3.86x.
On individual stocks, MANULIFE-S (00945.HK) -6.000 (-1.712%) Short selling $105.30K; Ratio 1.102% 's 2Q26 net profit rose 17%, with the stock opening down 0.11%. BRILLIANCE CHI (01114.HK) +0.070 (+3.491%) Short selling $4.01M; Ratio 17.631% issued a profit warning, but its stock still opened 2.74% higher. MINIMAX-W (00100.HK) +20.800 (+8.195%) Short selling $209.34M; Ratio 10.424% climbed 5.52% after being added to the Stock Connect eligible list. (mn/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-05 16:25.)