April 1 Asian Marco Initial Thoughts April 1 Expect a cautious open ahead of data releases

01 Apr

Pre Market Manufacturing Index Mar 59.9 vs 58.8 Feb and Manufacturing PMI  Mar 56.8 vs 56.9 Feb. ASX 200 initially traded higher but now has eased back but still positive. Markets will be closed Friday and Monday so expect open positions to be closed ahead of the long weekend.Later Balance of Trade, Home Loans, Retail Sales Japan 
Nikkei Futures opened -82pts, but have eased to -70pts Expect a cautious open as investors react to Tankan data and the Manufacturing PMI @ 8:30am. Market will be open Friday
S Korea 
Expect markets to open flat as +VE US tech rebound off-set by inflation fears. Trade data on the open and Manufacturing PMI after the first 30 minutes likely to keep traders cautious. Market will be open Friday
Expect market to open flat, caution ahead of PMI data but sentiment +VE as tech rebounded in the US overnight
Expect market to open lower with caution ahead of Caixin data and with international relations remain fragile. Markets will be open tomorrow
ADR’s +117pts at 28,496 with a broad but slight rebound but expect some initial margin call selling and caution ahead of the China Caixin Manufacturing PMI data. Also Hong Kong will be closed tomorrow Friday and Monday so expect a number of positions to be closed.
US Futures 
opened flat Dow +18pts, S&P flat and NDX +0.1%. Final trading day for US markets but Payrolls data will be released Friday.
Expectations of significant portfolio adjustments seem to have been over played; suggesting that asset allocators are revising the historical balance of 60:40 equity bond portfolios in the light of current bond yield.

DOW -0.26%, NDX +1.54%, S&P +0.36%, Russel 2K +1.13% 
Markets opened higher, NDX rallied initially and then worked higher, S&P trended higher but the Dow traded sideways. All markets dipped into the close. ADP jobs data was stronger than expected. Investors focused on the implications from President Biden’s $2tn Infrastructure plan which would involve raising corporation tax to 28% with measures designed to stop offshoring profits theoretically would fund the plan over 15 years. Key points
• Put $621 billion into transportation infrastructure (bridges, roads, public transit, ports, airports and electric vehicle development)
• Direct $400 billion to care for elderly and disabled Americans
• Inject more than $300 billion into improving drinking-water infrastructure, expanding broadband access and upgrading electric grids
• Put more than $300 billion into building and retrofitting affordable housing, along with constructing and upgrading schools
• Invest $580 billion in American manufacturing, research and development and job training efforts
The general trend was to ’sell the news’ with Energy, Materials, Industrials weak and interest in Tech
Not everyone was supportive; some worrying that it will raise yields and inflation expectations undermine the credibility of Fed being on hold throughout 2021 and usher in tax hikes.
Google announced a limited 'return to office plan’ and a restriction on working from home; advises staff to be inoculated but says it is not compulsory. It aims to have all employees back in the office by the fall
Apple will host its annual Worldwide Developers Conference (WWDC) June 7 through 11, in an all-online format. Free for all developers, WWDC21 will offer unique insight into the future of iOS, iPadOS, macOS, watchOS and tvOS.
Boeing urged the United States on Wednesday to keep disputes over human rights and other topics separate from trade relations with Beijing, and warned that European rival Airbus would gain if the US plane maker were locked out of China.
Banks JPMorgan Chase -1.5%, Citigroup -0.3%, Wells Fargo -0.8%, Amex -1.1%, Morgan Stanley -1.8%, Goldmans -1.4%
Work from home names: Facebook +2.3%, Apple +1.9%, Amazon +1.3%, Netflix +1.6%,  Disney -0.5%, Zoom Video +2.6%, Alphabet +0.8% and Microsoft +1.7%,
Tech NXP Semi +1.8%, Nvidia +3.7%, Micron +1.9%, AMD +3.3%, Skyworks +2.8%
Re-opening stocks  Boeing +1.1%, Caterpillar -0.5%, Simon Property -1.4%, Kohl’s +0.2%, Nordstrom +0.8%, Gap +1.1%, United Airlines -1.2%, Carnival -0.4%, Wynn Resorts flat, Chevron -1.1%, Exxon Mobil -1.5%,  
Lock down names Campbell Soup -2.2% General Mills -0.8%, JM Smucker -1.6%
After market Micron +2.3% on better-than-expected results for Q2  
QuantumScape +8.8% after the company announced it has met the requirements to close a $100 million investment by Volkswagen. The auto company will now test QuantumScape’s solid-state lithium-metal cells in their labs in Germany.
Wingstop +3.8% as Q1 preliminary results showed domestic same-store sales are +20.7% YoY and digital sales skyrocketing by 63.6%.
Guess +4.5% Q4 profit beat analyst expectations but revenue a slight miss.
MBA Mortgage Applications -2.2% vs -2.5% prior and 30 yr Mortgage Rate 3.33% vs 3.36% prior,
ADP Employment Change Mar 517k vs 176k Apr revised (F/cast was 495k)
Chicago PMI Mar 66.3 vs 59.5 Apr (F/cast was 59.8)
Pending Home Sales Feb -0.5% YoY vs +13.5% Jan (revised) (F/cast was +9.5%)
Pending Home Sales Feb -10.6% MoM vs -2.4% Jan (revised) (F/cast was -3.1%)
EIA Gasoline Stocks Change -1.735m vs +0.203m prior (Consensus was +0.73m)
EIA Crude Oil Stocks Change -0.876m vs +1.912m prior (Consensus was +0.107m)
USDA Prospective Plantings Report.
USD was slightly stronger vs Yen & Euro. Bitcoin -0.4% @ 58,734.21, VIX -1% @ 19.4, US T10 @ 1.744% rises slightly as Biden announces infrastructure stimulus plan.
OIL Brent -0.89%, WTI +0.6% as OPEC+ lowers its demand growth forecast by 300k barrel a day, although the strong Chinese PMI number did limit the downside. OPEC+ meets today to discuss May production levels
Gold -0.43%, Silver -0.31%, Copper -0.24%. Platinum -0.1% Palladium unch
AHEAD Challenger Job Cuts, Initial Claims, 4 Week Average Claims, Continuing Claims, Manufacturing PMI, Construction Spending, ISM Manufacturing Data (PMI, New Orders, Prices and Employment), EIA Natural Gas Stocks, Baker Hughes Oil Rig Count, Total Vehicle Sales.
Earnings: CarMax

DAX flat, CAC -0.34%, FTSE -0.86% 
Markets opened slightly lower and traded sideways through the day with the FTSE and CAC drifting lower in the afternoon before seeing a small bounce into the close. Pre market data from the UK was better than forecast. French inflation in line, PPI slightly better but Household consumption missed f/casts at flat. German unemployment fell. Eurozone data was out later headline inflation jumped but underlying inflation slowed. Banks led the declines but most sectors closed in the red. Telco’s had seen early interest.
Deliveroo -26% on first day of trading, had been -30% intraday. Competitors Just Eat Takeaway +1.1% and Delivery Hero +1%
Siemens Gamesa +5.5% on receiving an order to supply 1,400 MW to wind turbines in the U.K.
H&M said Wednesday it was doing "everything" to resolve a boycott in China that was sparked by its decision to stop sourcing cotton from Xinjiang over forced labor concerns. H&M and other fashion brands have been under fire in China for statements voicing concern about allegations of labor violations in cotton fields in the far west region.
Core Inflation Rate Flash Mar +0.9% YoY vs +1.1% Feb (F/cast was +1.1%)
Inflation Rate Flash Mar +1.3% YoY vs +0.9% Feb (F/cast was +1.2%)
Inflation Rate Flash Mar +0.9% MoM vs +0.2% Feb (F/cast was +0.8%)
Unemployment Change Mar -8k vs +9K Feb (F/cast was -10k)
Unemployment Rate Mar 6% vs 6% Feb (F/cast was 6%)
Inflation Rate Prelim Mar +1.1% YoY vs +0.6% Feb (F/cast was +1.1%)
Inflation Rate Prelim Mar +0.6% MoM vs 0.0 Feb (F/cast was +0.6%)
Household Consumption Feb 0.0% MoM vs -4.9% Jan revised (F/cast was +3.7%)
PPI Feb +0.8% MoM vs +1.2% Jan (F/cast was +0.7%)
Current Account Q4 GBP -26.3b vs -14.3b Q3 revised (F/cast was -32b)
GDP Growth Rate Final Q4 +1.3% QoQ vs +16.9% Q3 revised (F/cast was +1%)
GDP Growth Rate Final Q4 -7.3% YoY vs -8.5% Q3 revised (F/cast was -7.8%)
Nationwide Housing Prices Mar +5.7% YoY vs +6.9% Feb (F/cast was +6.2%)
Nationwide Housing Prices Mar -0.2% MoM vs +0.7% Feb (F/cast was +0.4%)
Business Investment Q4 -7.4% YoY vs -12.8% Q3 revised (F/cast was -10.3%)
Business Investment Q4 +5.9% QoQ vs 13.2% Q3 revised (F/cast was +1.3%)
EUROZONE Manufacturing PMI
GERMANY Retail Sales, Manufacturing PMI
FRANCE Manufacturing PMI, New Car Registrations
UK Manufacturing PMI

Nikkei futures opened -82pts, but have eased to -70pts Expect a cautious open as investors react to Tankan data.  Yen currently 110.73
Data due pre market Tankan Survey (Large Manufacturers Index, Large All Industry Capex, Large Manufacturing Outlook, Large Non Manufacturing Index and Small Manufacturers Index). Foreigner Stock and Bond Investment,  
At 8:30am Manufacturing PMI and later at 11:45am 10 year JGB Auction
Tokyo reported 414 new covid cases Wednesday (+50 from Tuesday).  National total was 2,832 with Osaka reporting 599 cases; again higher than Tokyo as mutant strains spread and  suggest a forth wave is developing. Osaka to ask for more emergency measures -VE for sentiment.
Japan will coordinate closely with the United States and South Korea in dealing with North Korea, with the aim of resolving the issue of Japanese abducted by the North and denuclearising the Korean Peninsula, a top Japanese government spokesman said.
Government spokesman on Wednesday criticized China's sweeping changes to Hong Kong's election rules as a "major setback" for the semi-autonomous territory. "Japan's grave concern is intensifying as provisions on the electoral system in the Hong Kong Basic Law have been changed...without listening to the voice of strong concern from the international community," Chief Cabinet Secretary Katsunobu Kato told a press conference.
Japan has halted new aid to Myanmar in response to the coup, according to the country's foreign minister, but is stopping short of sanctions imposed by some nations on military and police commanders. Japan is a top aid donor to Myanmar,
Mitsubishi UFJ Financial Group on Tuesday flagged potential losses of around $300 million (up from $270m earlier) at its European subsidiary related to an unnamed U.S. client.  The potential loss does not have any material impact on the business capability of the securities arm, or its European unit, it said. Slight -VE
A recent fire at Renesas' Japanese semiconductor factory and severe weather in parts of the United States in February have exacerbated an ongoing chip shortage plaguing the global auto industry, data firm IHS Markit said on Wednesday. IHS said it now expects disruptions to the production of nearly 1.3 million global light vehicles, up from a prior forecast of 1 million in the first quarter.  Renesas now expects the plant to re-open in June or July. Slight -VE
Hitachi said Wednesday it will fully acquire U.S. software company GlobalLogic in a deal worth $9.6 billion as it looks to expand its digital services offerings.  Hitachi will pay $8.5 billion for the firm, but the cost will be bumped up by the additional repayment of GlobalLogic's outstanding debt, the Japanese company said. +VE
Honda is recalling more than 628,000 vehicles in the U.S. to replace fuel pumps that can fail, causing the engines to stall. The recall covers much of the Honda and Acura model lineup from the 2018 to 2020 model years including the CR-V small SUV, the company's top-selling U.S. vehicle -VE
ANA turned a parked 777 into a restaurant Wednesday; serving guess in first and business class. Slight +VE
The Japan Coast Guard (JCG) has ordered two more Airbus H225 helicopters, taking its total Super Puma fleet up to 17, of which two are AS332s and 15 are H225s.

Expect markets to open flat as +VE US tech rebound off-set by inflation fears. Trade data on the open and Manufacturing PMI after the first 30 minutes likely to keep traders cautious.
Data due on the open 
Balance of Trade March (Feb was $2.71b F/cast is 5.7b)
Exports March (Feb was +9.5% consensus is +16.2%)
Imports March (Feb was +13.9% consensus is +17.5%)
Manufacturing PMI due 8:30am
KDCA reported 506 new covid cases Wednesday highest in 4 days and back above 500 as the spread accelerates.  As of Tuesday, the reproduction rate rose to 1.16, which indicates that a single COVID-19 patient transmits the disease to more than one person. A day earlier, the rate was 0.94. -VE for sentiment.
Foreign minister will visit China this week for the first time in three years, looking for ways to improve ties even as tensions are running high between Beijing and the United States, the South’s most important ally.   He also expressed hopes of meeting his Japanese counterpart.
Former acting deputy US trade representative Wendy Cutler said on Wednesday that Korea should consider joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and wait for the US to follow suit. “Korea was one of the major negotiating partners for the TPP, but missed the opportunity because it waited for too long,” Cutler said during the 1st CPTPP Trade Forum organized by the Korean Chamber of Commerce and Industry. She attended the session via virtual link. +VE
Korean Air aims to launch a single integrated entity with Asiana Airlines, its biggest acquisition to date, in 2024, its chief executive president said Wednesday. +VE
Samsung SDI is among the first four companies in the world to sign on to a World Wildlife Fund call for a moratorium on deep-sea mining, according to an announcement by WWF on Wednesday.  The battery-making affiliate of Samsung Electronics joined Google, BMW and Volvo in committing not to source any minerals -- such as cobalt, copper, nickel and manganese -- from the seabed or finance deep-sea mining activities, and to exclude minerals obtained this way from their supply chains.
South Korea's three electric vehicle (EV) battery makers saw their global market shares fall in the first two months of the year amid Chinese rivals' big advances, a market tracker said Wednesday.  Worldwide consumption of EV batteries stood at 25.2 gigawatt hours (GWh) in the January-February period, up 102.4 percent from a year earlier, according to SNE Research. Slight -VE LG Energy Solution, Samsung SDI and SK Innovation   +VE China’s CATL and BYD
The Korea Fair Trade Commission (KFTC) plans to fine Apple Korea 300 million won ($265,000) for hampering its investigation. It has also decided to refer the local unit of US tech giant Apple Inc. and one of its executives to the prosecution for allegedly impeding the regulator's probe into unfair business practices.  -VE Apple
SK IE Technology a battery materials subsidiary of SK Innovation Co., said Wednesday it will commence the initial public offering process for its Seoul bourse debut in May.  SKIET, which makes lithium-ion battery separators, said it will float 21.4 million shares on the KOSPI market at prices between 78,000 won and 105,000 won, which would make its market value up to 7.5 trillion won ($6.6 billion). +VE

Expect market to open flat, caution ahead of PMI data but sentiment +VE as tech rebounded in the US overnight
Data due March Manufacturing PMI due at 8:30am, Feb was 60.4 F/cast is 60
NASA has become the latest foreign organization to upset China by referring to Taiwan as a country, the latest in a string of quarrels the Asian nation has waded into over wording it deems politically sensitive.  The US space agency has hurt the feelings of the Asian country’s 1.4 billion people with the reference on its Web site, China’s Taiwan Affairs Office (TAO) spokeswoman Zhu Fenglian.   The space agency needs to “correct its mistake as soon as possible,” Zhu told a regular news briefing yesterday in Beijing.
Warning that Taiwanese talent is being poached with impunity by Chinese companies, lawmakers yesterday called on the Ministry of Economic Affairs (MOEA) to address the problem and fix legal loopholes to stop a brain drain. The loss of technical talent to China has been a long-standing problem as Taiwan seeks to protect its superiority in the semiconductor supply chain. However, the case of Hestia Power Inc has thrust the issue into the spotlight again.
Fubon Financial Holding Co, which last week acquired 53.84 percent of Jih Sun Financial Holding Co, yesterday said it plans to buy the remaining 46.16 percent stake in the third quarter and complete the merger by the end of this year. +VE
CTBC Bank would increase its investment in LH Financial Group Public Co by acquiring another 2.33 billion shares of the Thai company, CTBC Financial Holding Co  said yesterday after its board of directors approved the proposal. +VE
Intel Corp’s 11th-generation Core processors for desktop computers was introduced at a news conference in Taipei yesterday. The new processors promise to deliver up to 19 percent improvement in instructions per cycle, or IPC, over existing processors, the US company said yesterday.
Wisdom Marine Lines Co’s board of directors has approved a proposal to distribute a cash dividend of NT$1 per share this year, down from NT$1.5 a year earlier, as the dry bulk shipping company’s net profit plunged 95 percent annually to NT$111.41 million (US$3.9 million) last year.  Earnings per share were NT$0.15 last year, the company said on Tuesday.  The cash dividend suggested a yield of 3.03 percent based on the company’s closing share price of NT$32.95 on Tuesday.

Expect market to open lower with caution ahead of Caixin data and with international relations remain fragile. Markets will be open tomorrow
Data due March Caixin Manufacturing PMI @ 9:45am Feb was 50.9 F/cast is 51.2
G7 trade ministers take aim at China over ‘harmful industrial subsidies’. Top trade officials from the world’s leading democracies on Wednesday took aim at China in a joint statement pledging collective action to address “harmful industrial subsidies” and other market-distorting practices. -VE
FT Reports Chinese lenders have used legal contracts to give them a hidden advantage over other creditors when lending to low-income countries, in a trend which threatens to undermine global debt relief efforts, according to report by  AidData at the College of William & Mary in the US, along with the Center for Global Development, the Kiel Institute for the World Economy and the Peterson Institute for International Economics. Something that has been suspected for a while and likely to trigger further anti Belt and road Initiative sentiment -VE for international relations as other lenders refuse to restructure as they believe any savings will be diverted to pay Chinese loans.  It also puts China at odds to some of its commitments under G20 agreements -VE
Huawei reported FY20 total revenues of RMB891.4 billion, surging by 3.8% yearly, Securities Times citing its Rotating Chairman Ken Hu. Equally, the firm's FY20 profit grew 3.2% annually to RMB64.6 billion. The group's terminal business (excluding handset segment) burgeoned by 65% last year, partly offsetting certain impacts on handset sales, Hu added.
ByteDance says it is 'bleeding' due to India bank account freeze, but it got no relief from its court action on Wednesday  -VE
China gave approval for a restructuring of Sinochem Group and ChemChina Group, two companies that have been long the target of merger speculation. The State-owned Assets Supervision and Administration Commission, which regulates the companies, announced the approval late Wednesday in a one-line statement, Bloomberg reports. In a separate statement, Sinochem said the two firms will become wholly-owned subsidiaries of a new holding company, operated by SASAC. +VE
China's gasoline and diesel prices will be reduced by RMB225 per ton and RMB220 per ton with effect from 24:00 on 31 March 2021, marking the first slide in refined oil retail prices this year, according to sources from National Development and Reform Commission (NDRC).
China is weighing a tax overhaul for its steel industry, following pledge of reducing steel output to control carbon emission this year, by encouraging imports and shrinking exports, Bloomberg cited sources. As such, focus will be put on domestic market to achieve green goals.
China is pondering over establishment of a new stock exchange to attract overseas-listed companies and boost the global status of her onshore share markets, people with knowledge of the matter were quoted as saying by Reuters. Chinese State Council has asked Securities Regulatory Commission to explore how to design an exchange that targets Chinese firms listed in offshore markets such as Hong Kong and the U.S., as well as Apple (AAPL.US), Tesla (TSLA.US) and such other global firms.  The problem will be legal structure, credibility and access to liquidity; I doubt that unless the Rmb can be freely exchanges there would be much interest from global firms.  I think it also illustrates that China is worried about its current markets becoming saturated.
A top Chinese medical expert said on Wednesday there was no factual basis to accusations that China did not share data with international researchers appointed by the World Health Organization to look into the origins of COVID-19.  But he did say “Of course, according to Chinese law, some data cannot be taken away or photographed, but when we were analysing it together in Wuhan, everyone could see the database, the materials - it was all done together,” he said. A slight -VE
The British Broadcasting Corp said on Wednesday one of its journalists in China had relocated to Taiwan, a move that comes amid criticism from Beijing of its reports on alleged human rights abuses against Uighur Muslims in the Xinjiang region. The journalist, John Sudworth, told BBC radio he moved with his family because it had become increasingly difficult to remain in the country. He had been under surveillance, faced threats of legal action, obstruction and intimidation, he said. -VE

ADR’s +117pts at 28,496 with a broad but slight rebound but expect some initial margin call selling and caution ahead of the China Caixin Manufacturing PMI data. Also Hong Kong will be closed tomorrow Friday and Monday so expect a number of positions to be closed.
No data due
Short Selling Wednesday 14.5% vs 17.5% Tuesday
Top Shorts  Bud Apac (1876) 38%,  Ali Health (241) 33%, Country Garden (2007) 32%, Sands China (1928) 31%,Ping An (2318) 29%, BankComm (3328) 27%, HKEX (388) 26%, HSBC (5) 25%, ICBC (1398) 25%.
Hong Kong does not warrant special US status since Beijing has slashed its autonomy, Antony Blinken reaffirms as the State Department releases annual Hong Kong Policy Act Report, determining whether the city is autonomous enough to justify preferential economic  relations.  He said the US will ‘work with Congress and our allies and partners around the world to stand with people in Hong Kong against the PRC’s egregious policies and actions’
Liberal studies will be renamed "citizenship and social development" when the revamped subject rolls out in September for Secondary Four students. The Education Bureau conducted a one-month consultation in February over changes in four senior secondary core subjects - liberal studies, Chinese, English and mathematics.
More than 20 households in vertical units at Kwan Yick Building in Sai Ying Pun were evacuated last night as experts said the virus could have spread from one unit to another by the chimney effect. An unknown-source case reported yesterday was a 26-year-old man - a property management clerk - who lives in unit 10 on the fourth floor of block B at Kwan Yick Building phase three.
The new role of chief convener of the Election Committee will be in a superior position to the city's chief executive and will represent  Beijing, says Hong Kong's sole delegate to the National People's  Congress Standing Committee, Tam Yiu-chung.  But Tam would not comment on who is better-suited for the role between former chief executives Leung Chun-ying or Tung Chee-hwa, who are also  both vice chairmen of the Chinese People's Political Consultative Conference.
The judiciary has stopped sending court defendants' ID card numbers, addresses and birthdays to reporters, and barred journalists from seeing the personal information of prosecutors.  This comes as the government considers restricting public access to the Companies Registry, with Chief Executive Carrie Lam Cheng Yuet-ngor saying on Tuesday that the press should enjoy "no privileges.”Chris Yeung Kin-hing, chairman of the Hong Kong Journalists Association, said it is worrying that both the government and judiciary are heading in the direction of restricting information access. "If the media did not abuse the information provided by the court, why is there a need to do so?" Yeung said. "This will only cause people to think that the arrangement is targeting the media and makes it more difficult for the media to perform their work as a fourth pillar."
XIAOMI-W (01810.HK) announced that it repurchased 19.3076 million shares of the company at the Stock Exchange Wednesday  (31 March), involving $499 million.
Shipments of smart personal audio devices ballooned 20% to 432 million units in 2020, while those of wearable bands and smart watches climbed 10% to 185 million units, both driven by health and sports demand amid the pandemic, according to Canalys' report.
The APEC Studies Programme of the Hong Kong Institute of Economics and Business Strategy at the University of Hong Kong (HKU) released its quarterly Hong Kong Macroeconomic Forecast today (March 31).  Given the worst global recession brought by the COVID-19 pandemic, Hong Kong’s economy shrank by 6.1% in 2020. The tightened social distancing measures brought by the fourth wave of COVID-19 started in December 2020 heavily dampened Hong Kong’s domestic demand in 21Q1. Hong Kong’s real
GDP is forecast to drop by 1.2% in 21Q1, less than the 3.0% drop in 20Q4.
The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of HKEX (00388.HK)  Wednesday published a consultation paper seeking public feedback on proposals to enhance and streamline the listing regime for overseas issuers.  In its consultation, the Exchange is seeking views on: streamlining requirements for overseas issuers, whilst continuing to ensure robust shareholder protection standards remain; expanding its secondary listing regime to welcome overseas-listed Greater China companies in traditional sectors to its markets; allow eligible issuers to dual-primary list while keeping their existing weighted voting right structures and variable interest entity structures.  Under the proposals, Greater China Issuers without a weighted voting right structure could secondary list on the Exchange: without demonstrating that they were an “innovative company” – this would be required only of issuers with weighted voting right structures; and by demonstrating a lower minimum market capitalisation at listing than currently required (but still higher than that required for primary listing).
After Market Results  
21CENTURY EDU (01598.HK) announced annual result ended December 2020. The net profit amounted to RMB77.184 million, down 6.5% yearly.  EPS was 6.51 fen. A final dividend of HK1.57 cents was declared.
GOME RETAIL (00493.HK) announced annual result ended December 2020. The loss widened to RMB6.994 billion from RMB2.59 billion in the corresponding period of the previous year. LPS was 34.8 fen. No dividend was declared.
WYNN MACAU announced annual result ended December 2020. The operating revenues declined 78.9% year on year to HK$7.612 billion. The profit swung into loss of HK$7.217 billion. LPS was HK$1.39. No dividend was declared.
KOWLOON DEV (00034.HK) announced annual result ended December 2020. The net profit amounted to HK$801 million, down 67.3% yearly.  EPS. was HK$0.68. A final dividend of HK$0.56 was declared.
JS GLOBAL LIFE (01691.HK) announced annual result ended December 2020. The net profit amounted to US$344 million, up 717.5% yearly. EPS was US10.4 cents. A final dividend of HK26.61 cents was declared, against no dividend in the year-ago period.
SMIC (00981.HK) announced annual result ended December 2020. The revenue rose 25.4% year on year to US$3.907 billion. The net profit amounted to US$716 million, up 204.9%. EPS. was US$0.11. No dividend was declared. On December 18, 2020 EST, the U.S. Department of Commerce added the Company and its certain subsidiaries and an associated company to the Entity List on the grounds of U.S. national security and foreign policy interests. Affected by the above events, the Company may not be able to obtain investment from U.S. persons in the future, as financing channels are limited, and there is uncertainty for the Company to obtain production related items subject to the EAR.
AKESO-B (09926.HK) announced annual result ended December 2020. The loss widened to RMB1.177 billion from RMB335 million in the corresponding period of the previous year. LPS was RMB1.65. No dividend was declared.
EVERGRANDE (03333.HK) announced annual results ended December 2020. Revenue rose 6.2% year on year to RMB507.248 billion. Net profit amounted to RMB8.076 billion, down 53.3%.  EPS equaled RMB0.613. Final DPS was RMB0.152.Vice Chairman cum CEO Xia Haijun, at the results conference, raised the company's strategy of "high growth, controlled scale and lower debt". As of the end of March 2021, the interest-bearing debt has shrunk to RMB674 billion, notably down by RMB200 billion.  The CEO, on another note, laid out contracted sales target for this year at RMB750 billion, as compared to the target of RMB650 billion last year. The group's contracted sales last year increased by 20% year-on-year to RMB723.2 billion.

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