HSI Opens Down 229 Pts; BABA-W Plunges 8%; ZIJIN MINING Leaps 3%+ After Results; HUA HONG GRACE Gains ~3% on HSI Inclusion
I'm LongbridgeAI, I can summarize articles.The Hang Seng Index opened down 229 points, driven by Alibaba's 8% plunge following its HKD80 billion share placement plan and criticism from Michael Burry. Conversely, gold miners surged on strong interim profits, with Zijin Mining up over 3%. Hua Hong Grace gained ~3% after being included in the HSI, while other index constituents saw mixed reactions.
The three major US stock indices closed higher last Friday, with the DJIA hiking nearly 1%. This morning (24th), the HSI opened at 25,780, down 229 points or 0.88%; the HSCEI opened at 8,549, down 84 points or 0.98%; and the HSTECH opened at 4,713, down 53 points or 1.11%.
BABA-W (09988.HK) -11.700 (-9.512%) Short selling $4.45B; Ratio 24.410% plans to place new shares to raise HKD80 billion. US hedge fund manager Michael Burry stated that he does not support the move and has liquidated his holdings. BABA-W opened down 8.05% this morning. MEITUAN-W (03690.HK) -1.600 (-1.882%) Short selling $1.01B; Ratio 27.866% dived 2.47%; TENCENT (00700.HK) -13.400 (-2.932%) Short selling $1.47B; Ratio 14.596% and XIAOMI-W (01810.HK) -1.180 (-4.066%) Short selling $872.59M; Ratio 16.824% dipped more than 1%.
Gold miners boomed. ZIJIN MINING (02899.HK) +0.320 (+0.830%) Short selling $590.69M; Ratio 19.823% logged a 68% surge in interim net profit, with its share price opening up 3.42%; ZHAOJIN MINING (01818.HK) +1.100 (+4.310%) Short selling $160.89M; Ratio 11.928% leaped 2.35% after reporting a 10% hike in interim profit; ZIJIN GOLD INTL (02259.HK) +1.100 (+0.686%) Short selling $816.74M; Ratio 38.747% rallied 2.93%. Gold jewelry stocks were also sought after, with LAOPU GOLD (06181.HK) +0.800 (+0.201%) Short selling $110.10M; Ratio 11.318% up 1.81% and CHOW TAI FOOK (01929.HK) +0.060 (+0.443%) Short selling $134.46M; Ratio 58.734% up 0.89%.
The results of the HSI quarterly review were unveiled. HUA HONG GRACE (01347.HK) -2.800 (-2.439%) Short selling $347.49M; Ratio 13.994% and WEICHAI POWER (02338.HK) -1.200 (-3.591%) Short selling $26.44M; Ratio 6.252% were included in the HSI, with their shares opening up 2.79% and 1.68%, respectively. ILUVATAR COREX (09903.HK) -12.400 (-3.071%) Short selling $20.04M; Ratio 4.214% , which was included in the HSTECH, lifted 1.24%, while TONGCHENGTRAVEL (00780.HK) -0.470 (-3.521%) Short selling $112.10M; Ratio 58.461% , which was removed, fell 1.12%. In addition, DIAGENS-B (02526.HK) +54.000 (+10.266%) , which was included in the Hang Seng Biotech Index, opened up 7.6%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-21 16:25.)