Hang Seng Index +144.53
HS Red-chip +36.77
|Real-time quote is provided by ETNET.
Disclaimer Last updated:27/03/2019 11:02
27 Mar 2019Market Outlook
HSI expected to consolidate at around 28,500 today.
Alleviating concerns on US yield curve inversion: Market worries about implications of yield curve inversion on global macro slowdown diminish, boosting investment sentiment. Coupled with the benefits of the Venezuelan power outage affecting oil exports, OPEC restrictions on oil supply and market expectation on drop in US crude oil inventories, oil prices rise. US stocks rebound, the Dow rose 279 points at most, closing at 25,657 points, up 140 points or 0.6%.
Sino-US trade war: Bloomberg News on Tuesday (25th) quoted sources as saying that China plans to substantially increase US pork import, as part of its commitment to purchase US agricultural products, to speed up the trade agreement between the two countries.
We lower the rating of CR Power(00836) from "Buy" to "Hold", also dropping out of our focus stock list.
CR Power (00836.HK)
(Rating: Hold; Target Price: HKD11.6; Current Price: HKD11.5)
Change in dividend policy and sharp cut in DPS by 63%.
Cash flow affected by increasing a/c receivable and CAPEX.
Lose valuation premium for dividend yield cut and HSI removal.
Ganfeng Lithium (002460.SZ)
(Rating: Buy; Target Price: RMB36; Current Price: RMB28.86)
Further expand production capacity of lithium.
The continuous improvement of the lithium battery industry.
Benefit from the strong growth of the new energy vehicle.
Sector and Company News
The following stocks will announce earning results: ZTE(00763)(27th Mar), BYD Company(01211)(27th Mar), Mengniu Dairy(02319)(27th Mar), China Life(02628)(27th Mar), CCB(00939)(27th Mar), ICBC(01398)(28th Mar), SUNAC(01918)(28th Mar), CMOC(03993)(28th Mar), Hua Hong SEMI(01347)(28th Mar), Sino Biopharm(01177)(29th Mar), China COMM CONS(01800)(29th Mar), GAC Group(02238)(29th Mar), BOC Hong Kong(02388)(29th Mar).
China RES Land (01109) announced annual results for the year ended 31 December 2018. Turnover amounted to RMB121.189 bn, up 18.9% YoY. During the year, core profit attributable to shareholders surged 17.8% YoY to RMB19.3 bn.
Kingsoft (03888) announced annual result ended December 2018. The net profit amounted to RMB389 mn, down 87.8% YoY.
Evergrande (03333) announced the results for the year ended 31 December 2018. Revenue grew 49.9% YoY to RMB466.196 bn. The net profit amounted to RMB37.39 bn, up 53.4% YoY.
PSBC (01658) released the results announcement for the year ended December 31, 2018.The net profit was RMB52.311 bn, up 9.7% YoY.
|09:30||HK$ markets: Overnight Hibor at 1.30%; US$/HKS$ 7.8489/90|
|09:21||HSI opens down 2 pts at 28,564; H-share up 14 pts to 11,246|
|16:45||Short Selling Turnover (Main Board) up to day close(1)|
|16:45||Short Selling Turnover (Main Board) up to day close(2)|
|16:45||Short Selling Turnover (GEM) up to day close|
|16:45||Short Selling Turnover (NASDAQ Stocks) up to day close|
|16:35||HK$ markets: Overnight Hibor at 1.67%; US$/HKS$ 7.8489/90|
|16:11||HSI ends up 43 pts at 28,566; turnover at HK$88.3bn|
|12:25||Short Selling Turnover (Main Board) up to morning close(1)|
|12:25||Short Selling Turnover (Main Board) up to morning close(2)|