HK Index
Hang Seng Index
HS Red-chip
HSCEI
28711.44
4530.54
11311.90
+144.53 +0.51
+36.77 +0.82
+80.17 +0.71
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Disclaimer Last updated:27/03/2019 11:02
Daily Commentary

27 Mar 2019

Market 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.


Daily Pick


HK Stocks

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.


A-share

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.


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Exchange Rates
Ticker Bid Ask
EUR

1.1212

1.1318

EURHKD

8.7980

8.8850

JPY

109.9406

110.9899

JPYHKD

0.070700

0.071400

GBP

1.3143

1.3261

GBPHKD

10.3130

10.4095

SGD

1.3479

1.3566

SGDHKD

5.7840

5.8240

CNY

6.6929

6.7554

CNYHKD

1.1614

1.1730

USDHKD

7.8344

7.8628

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DisclaimerLast updated: 09:32
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RENTIAN TECH 0.020 +0.004 +25.000
SFCE 0.355 +0.065 +22.414
CHONGSING HLDGS 0.064 +0.011 +20.755
ANACLE 0.480 +0.080 +20.000
CHI OCEAN IND 0.026 +0.004 +18.182
51 CREDIT CARD 6.330 +0.920 +17.006
SHENGLI PIPE 0.131 +0.018 +15.929
BYLEASING 0.670 +0.090 +15.517

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Disclaimer Last updated:27/03/2019 11:02