HK - Market Strategy 03 (Dec 17 - Dec 25)

Re: HK - Market Direction 02 (Jul 15 - Dec 17)

Postby winston » Wed Jan 24, 2018 7:20 pm

In Hong Kong's Hot Stock Market, Warning Signs Go Overlooked

By Sofia Horta E Costa

‘Do not freak out’ over short term-indicators: Bocom’s Hong
Many strategists are bullish despite signs of overheating

Relative strength indexes for the Hang Seng and the Hang Seng China Enterprises Index have climbed to the highest levels in more than a decade, far above thresholds that suggest an overbought market.

The Hang Seng trades at about 13 times estimated earnings for the next 12 months, the highest level since May 2015.


Source: Bloomberg

https://www.bloomberg.com/news/articles ... yptr=yahoo
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Re: HK - Market Direction 02 (Jul 15 - Dec 17)

Postby winston » Thu Jan 25, 2018 10:20 pm

Hong Kong stocks are not yet ‘richly valued’, expect the rally to continue on mainland fund inflows, analysts say

In spite of its record-breaking rally, Hong Kong stocks are valued at just 12.2 times forward earnings, or near its 10-year historical average

Daily southbound flows through the Shanghai and Shenzhen connect schemes accelerated to a net HK$3 billion (US$384 million) this year, up from around HK$1.5 billion per day in 2017.


Source: SCMP

http://www.scmp.com/business/money/stoc ... pect-rally
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Re: HK - Market Direction 02 (Jul 15 - Dec 17)

Postby winston » Mon Jan 29, 2018 7:59 am

WHY THE HONG KONG BULL MARKET IS SET TO RUN AND RUN

Yes, debt levels in China are high, but much of it is owed by one arm of the state to another, meaning a liquidity crisis is unlikely. When international investors realise that, valuations have a long way to rise

BY TOM HOLLAND

Economic fundamentals, valuations, and buoyant capital inflows all suggest the rally has further to run.


Last year, net inflows to the Hong Kong market from the mainland via the southbound “Stock Connect” scheme averaged about HK$10 billion a week. In the first three weeks of 2018, the value of those inflows has almost doubled to HK$19.5 billion.


Risks: The authorities in Beijing could still slip up and over-tighten financial conditions, triggering a sell-off in the mainland that would soon spread to Hong Kong.

Or inflation could take off in the United States, prompting a slide in bond prices that would hit US stocks and by contagion infect the rest of the world.


Source: SCMP

http://www.scmp.com/week-asia/opinion/a ... un-and-run
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Re: HK - Market Direction 02 (Jul 15 - Dec 17)

Postby winston » Thu Feb 08, 2018 11:30 am

Even Mainland Chinese Investors Are Abandoning Hong Kong Stocks

Some of the most die-hard bulls on Hong Kong shares are deserting as losses intensify.

Chinese investors net sold 869 million yuan ($139 million) of Hong Kong equities via the exchange links with Shanghai and Shenzhen on Wednesday, according to Bloomberg calculations based on daily quota usage. That’s the first net selling by mainland investors since late December and the biggest in any single day since August.

Mainland investors poured a net $2.9 billion into Hong Kong stocks in the first two days of the week, taking net inflows this year to $18 billion. The benchmark Hang Seng Index and the Hang Seng China Enterprises Index still both dropped more than 6 percent over Monday and Tuesday.

Their gains on Wednesday morning then also evaporated, as the H-share measure swung the most since November 2016, when Donald Trump was elected as U.S. president.

Chinese buying of Hong Kong stocks could slow considerably and is unlikely to prevent a correction in coming months, Bank of America Corp. strategists including David Cui wrote in a note dated Tuesday.

Source: Bloomberg

https://www.bloomberg.com/news/articles ... ong-stocks
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Re: HK - Market Direction 02 (Jul 15 - Dec 17)

Postby winston » Wed Feb 28, 2018 7:16 am

Chinese investors yank record funds from Hong Kong stocks

Net selling of Hong Kong shares via Chinese exchange links swelled to 3.1 billion yuan (US$490 million).

The Communist Party’s third plenary session and the National People’s Congress will take place over the next couple of weeks, with deleveraging being a focus.

"The regulator meetings are about to start in China, which has made mainland investors more cautious," said Linus Yip, Hong Kong-based strategist with First Shanghai Securities Ltd.

"The market is worried that China will step up monetary tightening and announce more curbs on financial markets during the meetings."


Source: Bloomberg

http://www.theedgemarkets.com/article/c ... ong-stocks
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Re: HK - Market Direction 02 (Jul 15 - Dec 17)

Postby winston » Thu Mar 15, 2018 11:40 am

<Research Report>UBS Picks Stocks Most Sensitive to China-US Trade Friction (Table)

Shares/Ratings/Target prices (HK$)

TECHTRONIC IND (00669.HK)?Sell?27.3
LI & FUNG (00494.HK)?Buy?4.8
AAC TECH (02018.HK)?Buy?194
MAN WAH HLDGS (01999.HK)?Neutral?7.88
LENOVO GROUP (00992.HK)?Neutral?5
SMIC (00981.HK)?Neutral?10
YUE YUEN IND (00551.HK)?Buy?38
FUYAO GLASS (600660.SH)?Sell?RMB21.6
GCL-POLY ENERGY (03800.HK)?Buy?1.62
ZTE (00763.HK)?Neutral?34
AIR CHINA (00753.HK)?Neutral?12.6
CHINA EAST AIR (00670.HK)?Buy?7.8
SUNNY OPTICAL (02382.HK)?Neutral?126.5
Alibaba (BABA.N)?Buy?US$240
CRRC (01766.HK)?Buy?9.3
CHINA MER PORT (00144.HK)?Buy?28.8
COSCO SHIP PORT (01199.HK)?Buy?10.5

Source: AAStocks Financial News
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Re: HK - Market Direction 02 (Jul 15 - Dec 17)

Postby winston » Sat Mar 17, 2018 10:25 am

Chart of the day: Hong Kong stocks see more price swings

by Zhang Shidong

The Hong Kong stock market has surprisingly become more volatile than its mainland Chinese peer.

The 60-day volatility on the Hang Seng Index rose to an almost two-year high this week, according to data compiled by Bloomberg.

The price swing in the gauge has exceeded 1 per cent by the close on 21 days so far this year, compared with 10 days for the Shanghai Composite Index.

The equity market in Hong Kong, largely believed to be relatively stable because of more institutional participation, has been more rattled by the overseas turmoil this year, including rising US Treasury yields and the risk of a looming trade war.

The increased volatility can also be explained by mainland retail investors taking part in the Stock Connect programmes.

In contrast, the volatility in the Shanghai index has remained mostly contained since the crash in 2015, as the regulator increases scrutiny of wrongdoings while state-backed funds take a more proactive role in ironing out wild movements.

Source: SCMP

http://www.scmp.com/business/markets/ar ... ice-swings
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Re: HK - Market Direction 03 (Dec 17 - Dec 19)

Postby winston » Tue Apr 10, 2018 3:20 pm

<Research Report>G Sachs: Recommends Overweight on A Shares on Catalysts; Names 5 Asia Pacific Themes

Goldman Sachs issued 2Q18 portfolio strategy and pointed out that surface underlying forward earnings in 1Q18 improved about 4% in spite of volatile regional equities. It was believed that Asia-Pacific fundamentals remained solid.

The broker kept Overweight on offshore China equities and introduced the onshore A-shares at Overweight, setting a target of 4,700 on CSI 300 Index till March 2019.

It also saw two upcoming catalysts in China capital market, including the CDR listing of China technology companies and A-share inclusion in MSCI.

Five implementation ideas were highlighted:-
1. Being potential beneficiaries from policies announced during the NPC
2. A-share inclusion beneficiaries
3. GARP stocks
4. Stocks with improving earnings momentum and
5. Potential winners from higher rates.

A number of stocks were expected to benefit from the above-mentioned factors, including CNOOC(00883.HK), SHANGRI-LA ASIA(00069.HK), PING AN(02318.HK), CCB(00939.HK), GEELY AUTO(00175.HK), AAC TECH(02018.HK), SHENZHOU INTL(02313.HK), SHIMAO PROPERTY(00813.HK), CRRC(01766.HK) and COUNTRY GARDEN(02007.HK) etc..

Source: AAStocks Financial News
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Re: HK - Market Direction 03 (Dec 17 - Dec 19)

Postby winston » Tue Apr 10, 2018 3:22 pm

<Research Report>G Sachs Screens for Names with Improving Earnings Momentum for Asia Pacific Portfolio (Table)

Goldman Sachs, in its report, screened for names with improving earnings momentum for Asia Pacific portfolio:

Shares listed in HK:

AGILE GROUP (03383.HK)
GALAXY ENT (00027.HK)
WHARF HOLDINGS (00004.HK)
HKEX (00388.HK)
COUNTRY GARDEN (02007.HK)
HANG SENG BANK (00011.HK)
MGM CHINA (02282.HK)
SINOPEC CORP (00386.HK)
CHINA RES LAND (01109.HK)
FOSUN INTL (00656.HK)
CHINARES PHARMA (03320.HK)
HAITONG SEC (06837.HK)
SINO LAND (00083.HK)
WH GROUP (00288.HK)
CCB (00939.HK)

Shares listed in other regions:

Vipshop (VIPS.UN)
Singapore Airlines (SIA.SP)
Ctrip.com (CTRP.UW)
Formosa Plastics (1301.TT)
Genting Malaysia (GENM.MK)
Pegatron Corporation (4938.TT)
JSW Steel (JSTL.IS)
Crown Resorts Limited (CWN.AT)
Woodside Petroleum (WPL.AT)
Hongkong Land (HKL.SP)

Source: AAStocks Financial News
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Re: HK - Market Direction 03 (Dec 17 - Dec 19)

Postby winston » Tue Apr 10, 2018 3:23 pm

<Research Report>G Sachs Screens for CN Stock Beneficiaries from National Policy (Table)

Goldman Sachs, in its Asia Pacific portfolio strategy, picked stocks that would potentially benefit from policies introduced by the Chinese Government as follows:

Stocks?Rating?Potential Rise
TENCENT(00700.HK)?Buy?+32%
CCB (00939.HK)?Buy (Conviction Buy List)?+36%
PING AN (02318.HK)?Buy (Conviction Buy List)?+42%
CNOOC (00883.HK)?Buy (Conviction Buy List)?+39%
GEELY AUTO (00175.HK)?Buy (Conviction Buy List)?+41%
AAC TECH (02018.HK)?Buy (Conviction Buy List)?+44%
SUNNY OPTICAL (02382.HK)?Buy (Conviction Buy List)?+17%
CSPC PHARMA (01093.HK)?Buy?+14%
SHENZHOU INTL (02313.HK)?Buy (Conviction Buy List)?+13%
BRILLIANCE CHI (01114.HK)?Buy?+63%
DALI FOODS (03799.HK)?Buy?+29%
PICC P&C (02328.HK)?Buy?+60%
SHANGRI-LA ASIA(00069.HK)?Buy (Conviction Buy List)?+39%
ND PAPER (02689.HK)?Buy?+33%
ALIBABA(BABA.N)?Buy (Conviction Buy List)?+54%
JD.com (JD.OQ)?Buy?+43%
NTES (NTES.OQ)?Buy?+58%
EDU (EDU.N)?Buy?+17%
VIPS (VIPS.N)?Buy?+25%
ZTO Express (ZTO.N)?Buy?+28%

Source: AAStocks Financial News
Web Site: www.aastocks.c
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