The Hong Kong stock market faces mounting selling pressure, with investors cautious about adding new positions and some even starting to sell down key blue-chip stocks to cash in on accumulated profits after the index's 22 per cent rally since last September. Earnings jitters are also limiting upside for the index. Gome ( 0493.HK ), China’s second-biggest home appliance retail chain, said it expects to post a full-year loss for 2012, hit by rising rents and also by its loss-making e-commerce business. ICBC ( 1398.HK ) will also be in the spotlight after an overnight term sheet showed that Goldman Saches is selling US$1 billion worth of its Hong Kong shares to take advantage of recent gains in price. The US firm is selling ICBC at HK$5.77 apiece, representing a three per cent discount to Monday’s close. On the policy side, 15 Banks in Hong Kong were granted permission yesterday to offer a combined 2 billion yuan in loans to companies in Qianhai. The batch includes HSBC ( 0005.HK ), Standard Chartered ( 2888.HK ), as well as the Hong Kong arms of mainland lenders such as ICBC and China Construction Bank ( 0939.HK ), and Hong Kong-owned banks like Bank of East Asia ( 0023.HK ) and Wing Lung Bank ( 0096.HK ).