Markets likely to open higher following the +VE US moves with interest rate sensitives +VE but exporters slightly weaker as the USD weakened. Only Australia has data out on Monday. Drug companies +VE as Germany and France push back on IP wavier and Sinopharm gets WHO approval (Sinovac Biotech’s should hear this week)
Australia Business Confidence and Retail Sales data. Miners & Oil names +VE
Japan Emergency State extended and growing public opposition to Olypmics
S Korea Expect markets to open higher but rising covid cases remains an issue.
Taiwan Market to open higher after very good trade data after market Friday
China Market to open lower with International relations deteriorating.
HK ADR’s +85pts @ 28,695 E-commerce remains weak and selective Chinese Banks
US Earnings continue but fewer big names, data more in focus; Inflation, PPI and Retail sales likely to be key along with Export/Import price data and Industrial & Manufacturing data.
U.S. Secretary of State Antony Blinken took a veiled swipe at Russia and China on Friday during a U.N. Security Council meeting chaired by his Chinese counterpart Wang Yi, warning that the actions of some big powers portrays impunity to others. Blinken stressed the need for countries to uphold international commitments, focus on human rights and respect for the principle of sovereign equality. “When U.N. member states – particularly permanent members of the Security Council – flout these rules and block attempts to hold accountable those who violate international law, it sends the message that others can break those rules with impunity,” he said. “Asserting domestic jurisdiction doesn’t give any state a blank check to enslave, torture, disappear, ethnically cleanse their people, or violate their human rights in any other way,”
Shows relations are still fraught -VE for Chinese investor sentiment
Securities and Exchange Commission Chairman Gary Gensler said Friday that more investor protections are needed in the markets for bitcoin and other crypto assets. He sees the attraction to bitcoin for traders but regulation is needed to prevent fraud and other issues. “It’s a digital, scarce store of value, but highly volatile,” Gensler said, talking about bitcoin specifically. “And there’s investors that want to trade that, and trade that for its volatility, in some cases just because it is lower correlation with other markets. I think that we need greater investor protection there.” Gensler later added that he believes bitcoin is a “speculative” store of value and that the SEC should be “technology neutral” when it comes to innovations in markets. Good to see him taking a technology neutral stance. Postive for crypto esepcially if he can get other regulators to follow +VE
DOW +0.66%, NDX +0.88%, S&P +0.74%, Russel 2K +1.35%
A mixed open but stock worked higher in the first hour, the weak jobs number taken by most to mean Fed tapering would be pushed further out. Dow then worked slightly higher to close at a new high. NDX drifted lower until after lunch and then worked slightly higher into the close. S&P traded sideways in a tight range.
Job gains in F&B and Leisure are generally low paid and so little added pressure on wage inflation. The loss of temporary job is a slight +VE if they are converted into permanent positions but the loss at courier jobs will be -VE for the delivery app companies. Manufacturing and Retail losses are a concern as the economy is supposed to be re-opening. BUT some think there could be seasonal adjustment to be made and so the data may not be so weak as the initial numbers suggest.
US. auto parts maker Lear +1.5% (LEA.N) on Friday reported a better-than-expected Q1 profit and raised its full-year outlook, helped by robust demand in key markets such as China, which is leading the sector's recovery from the COVID-19 crisis. Lear's results come a day after rival Magna International +2.6% (MG.TO) also beat estimates for quarterly results, driven by strong China demand. +VE but China Association of Automobile Manufacturers on Friday wrote in a preliminary forecast that in April 2021, the sales volume totaled 2.173 million vehicles, -13.9% monthly but +5% yearly.
Banks slight -VE as rates rises pushed further out after jobs data; JPMorgan Chase +0.3%, Citigroup +0.4% Wells Fargo -0.2%, Amex +1.3%
Work from home names: Facebook -0.3%, Apple +0.5%, Amazon -0.5%, Netflix +0.9%, Disney +1.7%, Zoom Video +0.8%, Alphabet +0.6% and Microsoft +1.1%,
Tech NXP Semi +2.8%, Nvidia +2%, Micron +1.4%, AMD +1.2%, Skyworks -0.5%
Re-opening stocks Boeing +2.5%, Caterpillar +1.7%, Simon Property +1.6% (reports this week), Kohl’s +2.5%, Nordstrom +3.7%, Gap +2%, United Airlines +3.2%, Carnival +3%, Wynn Resorts +2.9%, Chevron +0.9%, Exxon Mobil +1.4%,
Lock down names Campbell Soup -0.5% General Mills -0.9%, JM Smucker -0.6%
NonFarm Payrolls Apr 266k vs 770k Mar revised (F/cast was 950k)
Notable job gains in leisure and hospitality (331K), other services (44K), and local government education (31K) BUT losses in temporary help services (-111K) and in couriers and messengers (-77K). Manufacturing (-18K) and retail trade (-15K) and were unchanged in construction. In April, nonfarm employment is down by 8.2 million, or 5.4%, from its pre-pandemic level in February 2020. Shortages of skilled workers and the supply of parts and materials could hurt factory employment in the short-run. Some analysts also consider that enhanced unemployment benefits are keeping people at home and not taking jobs. +VE for US interest rates being kept low for longer.
Unemployment Rate Apr 6.1% vs 6% Mar (F/cast was 5.8%)
Ave Weekly Hours Apr 35 vs 34.9 Mar (F/cast was 34.9)
Ave Weekly Earnings Apr +0.3% vs +4.2% Mar (F/cast was -0.2%)
Participation Rate Apr 61.7% vs 61.5% Mar (F/cast was 61.7%)
Wholesale Inventories Mar +1.3% vs +0.9% Feb (F/cast was +1.4%)
Baker Hughes Total Rig Count 448 vs 440 prior
Baker Hughes Oil Rig Count 344 vs 342 prior
Consumer Credit Change Mar $25.84B vs 26.13B Feb revised (F/cast was 18.7B)
Higher than F/cast but down MoM I think people are still concerned about saving/paying down debt over spending.
USD was weaker vs Yen & Euro. Bitcoin +3% @ 57,611.83, VIX -9.2% @ 16.7, US T10 @ 1.579% eased on the jobs report but later ticked higher.
OIL Brent +0.28%, WTI +0.29% despite concerns about the impact from covid in India.
Gold +0.9%, Silver +0.32%, Copper +3.18% Platinum -0.1%, Palladium -0.9%.
AHEAD Monday ISM New York Index, Consumer Inflation Expectations Data this week includes NFIB Business Optimism, JOLTs Job Openings, Inflation Data (Wednesday), PPI data (Thursday), Retail Sales, Export/Import Prices and Industrial & Manufacturing Production Data, Business Inventories and Michigan Data
DAX +1.34%, CAC +0.45%, FTSE +0.76%
Markets to open higher following the mainly +VE state of Asian markets but DAX and CAC dipped in early trades on mixed data before working higher. German exports saw an 11 month of expansion +VE. UK rising as local election results and Scottish parliamentary results are posted. Markets dipped on the weak US jobs number but the recovered. Most sectors closed in the green.
Earnings in focus; reported before the bell.
Siemens +3% after it raised its full-year profit and sales guidance on Friday for the second time this year after reporting adjusted second-quarter EBITDA (earnings before interest, tax, depreciation and amortization) for its industrial businesses of 2.1 billion euros ($2.53 billion), a 31% increase on the same period last year.
Adidas +8.4% also raised its sales outlook and reported a net income of 502 million euros for the first quarter of this year, up from 26 million euros in 2020.
Meggitt, +7.5% but was 11%+ initially on reports of a possible takeover.
BMW +0.3% off its midday high confirmed its full-year profit targets but cautioned that there could be volatility ahead due to rising raw material costs and supply disruptions.
Rubis -6% after its first-quarter earnings.
Balance of Trade Mar €20.5B vs +18.2B Feb revised (F/cast was +17.6B)
Exports sa Mar +1.2% MoM vs+1% Feb revised (Consensus was +0.5%) Imports sa Mar +6.5% MoM vs +3.6% Feb (Consensus was +0.7%)
Industrial Production Mar +2.5% MoM vs -1.9% Feb revised (F/cast was +1.7%)
Current Account Mar €30.2B vs +18.6B Feb (F/cast was +25.2B)
Balance of Trade Mar €-6.1B vs -5.1B Feb (F/cast was -4.2B)
Industrial Production Mar +0.8% MoM vs -4.8% Feb revised (F/cast was +2.5%)
Private Non farm Payrolls Q1 +0.3% QoQ vs -0.1% Q4 (F/cast was +0.7%)
Current Account Mar €-2.9B vs -2.2B Feb revised (F/cast was -3.2B)
Construction PMI Apr 61.6 vs 61.7 Mar (F/cast was 62.3)
EUROZONE No data due. Later this week ZEW Economic Sentiment, Industrial Production,
GERMANY No data due. Later this week Wholesale Prices, ZEW data, Inflation,
FRANCE No data due. Later this week Inflation and Unemployment.
UK Halifax House Price Index. Later this week Trade Data, GDP Data, Business Investment, Industrial & Manufacturing Production
Expect Nikkei to opened higher but US dollar weakness a slight -VE for exporters.
Yen closed currently 108.60
No data due but Tuesday’s Household Spending will be closely watched. Other data this week includes Coincident and Leading Economic Indexes, Bank Lending and Current Account.
Friday Tokyo reported 907 new covid cases (+316 DoD) Osaka 1,005 (+258 DoD) the nationwide total was over 6,000.
The government may approve the use of coronavirus vaccines developed by AstraZeneca PLC and Moderna Inc as early as May 20, the Nikkei reported on Friday.
The government extended the COVID-19 state of emergency, originally expiring on 11 May, until 31 May, reported Nikkei. Apart from Tokyo, Osaka, Kyoto and Hyogo, officials have also placed Aichi and Fukuoka under a state of emergency. It is estimated it will lead to an economic loss of ¥1 trillion ($9.2 billion); dimming the prospect for a steady recovery toward the end of the year, according to an economist’s forecast. PM Suga also said the government aims to ramp inoculations. More than 230,000 people have signed a Japanese petition calling for the Tokyo Olympics to be cancelled in the two days since it was launchedonline, as public concerns mount over holding the showpiece event during a pandemic. Comes as the World Health Organization hopes the Olympics can go ahead in Japan this summer, its emergencies chief said on Friday, saying many of the decisions on the format of the games can only be made last-minute due to evolving risks from the COVID-19 pandemic. Seems the public has a better attitude in my view; surely for all the prestige and cost of the Olympics it can’t be worth risking even one human life?
Novavax Inc said on Friday the distribution of its COVID-19 vaccine in Japan is expected to begin in late 2021 or early 2022 and continue for the near-term, predicting the need for protection against variants in the future.
Nominal monthly wages in Japan in March rose 0.2% YoY for the first increase in 13 months, reflecting a decline in the number of part-timers amid the coronavirus pandemic, the government said Friday. +VE. But the average monthly wages for full-time workers fell 0.3% to 365,804 yen and those of part-time workers dropped 0.8% to 96,350 yen, the data showed.A mixed report reflecting the uncertainty due to covid.
Mitsubishi Corp working with Swiss company South Pole is developing a carbon removal purchase facility which aims to procure $300 million to $800 million worth of carbon dioxide (CO2) removal credits by 2030, South Pole said on Friday.
All Nippon Airways (ANA) posted an annual net loss of 286.7 billion yen ($2.6 billion) Friday but did not release a forecast for the current financial year, It carried 13.088 million passengers for both international and domestic routes last year, down 75% yearly.
Expect markets to open higher following the US as inflation concerns eases.
No data due until Wednesday’s unemployment and then Friday’s Export/Import Prices.
KDCA reported 701 new covid cases +127 DoD (with 29 new imported cases) -VE for sentiment but the total number of people released from quarantine after making full recoveries was 116,881, up 859 from the previous day.
South Korean’s frenzy for digital coins, especially alternative coins, has pushed the transaction volume for cryptocurrencies past 45 trillion won ($43.11 billion) in the 24 hours until Friday morning. The figure exceeds the combined trading volume of the country’s two stock markets Kospi and Kosdaq by far. On Thursday, the main Kospi recorded a transaction volume of 16.62 trillion won and Kosdaq 7.4 trillion won. Slight -VE for equities.
Samsung Securities Co. on Friday reported its first-quarter net income of 289 billion won ($257.8 million), up 1776.4 percent from a year earlier. In line with estimates a slight +VE
South Korea's oil refining industry is expected to rebound in the first quarter thanks to surging global oil prices and a recovery in refining margins after hemorrhaging from the pandemic-driven slump last year, analysts said Saturday. +VE SK Innovation Co., GS Caltex Corp., report next week. S-Oil Corp. and Hyundai Oil Bank Corp have already reported and showed a return to the black in Q1. +VE
Samsung Electronics will share its 505 patented technologies with local small and medium enterprises, the Ministry of Trade, Industry and Energy said Friday. The SMEs that wish to benefit from the governments technology transfer program are required to submit their application via the ministry or the Korea Institute for Advancement of Technology, by June 10. +VE
Naver plans to expand its research and development network in the North American region, particularly focusing on Silicon Valley, as part of its globalization efforts, according to officials. +VE
Expect market to open higher on strong trade data out after market Friday and +VE sentiment towards Tech in the US on Friday. But expect selective buying following results.
No data due this week.
After Market Friday
Balance of Trade Apr $6.16b vs 3.66b Mar (F/cast was 3.3b)
Exports Apr +38.7% vs +27.1% Mar (Consensus was +26.9%)
Imports Apr +26.4% vs +27% Mar (F/cast was +4%)
Exports +VE as economic activity globally and inventory building for tech and non-tech products, pushing up their selling prices, during a historically slow season, Department of Statistics Director-General Beatrice Tsai told a news conference in Taipei. They expect exports to remain high this month too. +VE Tech especially but also saw a extension to non-tech sectors, with chemicals, minerals, textiles, base metals and plastics +VE
US urges WHO to invite Taiwan to annual meeting, a move opposed by China. Sec of State Blinken says there is ‘no reasonable justification’ for the island’s exclusion from the World Health Assembly later this month. Taiwan offers ‘valuable contributions and lessons’ from its response to global health issues, he said to discuss ways to strengthen international cooperation to end the coronavirus pandemic in its meeting starting May 24. “The United States calls upon the WHO director general to invite Taiwan to participate as an observer at the WHA – as it has in previous years, prior to objections registered by the government of the People’s Republic of China,” he added.
Macronix International yesterday posted its best April revenue, at NT$3.81 billion (US$136.52 million), lending support to its optimistic forecast about customer demand amid a persistent chip shortage. April revenue +5.6% MoM and +11.2% YoY. Macronix has forecast a gradual growth in quarterly revenue through the end of the year, as customers scramble to secure chip supply, boosting its book-to-bill ratio to “a stunning level.” +VE
Dimerco Express Corp yesterday reported a net profit of NT$300 million (US$10.7554 million) for Q1 +207% YoY thanks in part to higher freight rates. Earnings per share (EPS) rose to NT$2.38, from NT$0.77 a year earlier. Dimerco, focuses on strategic logistics planning and execution for the international transportation of goods, attributed the profit growth to higher revenue of NT$6.98 billion in Q1, +68% YoY. Revenue from its air and sea cargo forwarding operations +53% YoY to NT$3.5 billion and +93% to NT$3 billion respectively, making up 51 percent and 44 percent of its total sales, company data showed. However,Q1 gross margin fell from 15.95% a year earlier to 13.71 percent due to higher operating costs, it said in a filing to the Taiwan Stock Exchange (TWSE). +VE
Wistron Corp yesterday reported Q1 net profit -95% QoQ and -84% YoY to NT$113 million (US$4.05 million), dragged by non-operating losses. Earnings per share (EPS) dipped to NT$0.04, from NT$0.26 a year earlier and NT$0.83 the previous quarter. Wistron attributed the losses to its holdings of Luxshare Precision Industry Co, whose share price has plunged about 40% since it bought 3 billion yuan (US$466 million) of the cable and connector supplier’s common shares in July last year. Slight -VE
Quanta Computer the world’s largest laptop contract maker, reported consolidated revenue of NT$84.84 billion last month, -10.2% MoM but +1.7% YoY Cumulative revenue in the first four months of this year was NT$353.79 billion, +29.3% YoY. The company shipped 6.1 million laptops last month, -7.58% MoM , but +32.6% YoY +VE
Compal Electronics experienced a sharper month-on-month drop in revenue, -17.38% MoM and -5.25% YoYo NT$89.35 billion. Compal shipped 4.4 million laptops last month, -20% MoM but up 2.33% YoY. The company said that demand remained strong, but tight components supply, including CPUs, monitors and power supplies, affected shipments. Compal expects to ship more than 47 million laptops this year, at least 10 percent more than it did last year. +VE
Inventec Corp yesterday posted sales of NT$38.19 billion for last month, -6.8% MoM and -22.5% YoY . Cumulative sales in the first four months of the year +8.75% YoY NT$150.04 billion. Slight -VE
Advantech Co the world’s biggest industrial PC maker, yesterday said that consolidated revenue last month expanded to NT$4.68 billion (US$167.7 million) from a year earlier, bringing cumulative sales in the first fourth months of this year to NT$17.84 billion, +13.86% YoY. Buoyed by strong demand from Chinese basic infrastructure projects, the company’s industrial Internet of things (IIoT) sector remains the biggest growth driver, the company said. The IIoT sector accounted for 37% of Q1 revenue, +54% YoY, the company said in an earnings call with investors. China’s ambitious goal to build “smart factories,” electric vehicles and green energy infrastructure is driving growth for Advantech’s products. +VE
Expect market to open lower; concerns on the US jobs data and increasing pressure on international relations. Sinopharm should see a bounce as WHO approves its vaccine for emergency use. (Sinovac has not yet been approved but may be this week).
On Tuesday we get Inflation data expected to have risen. We could also get New Yuan Loans, Outstanding Loan Growth, Total Social Financing, Vehicle Sales and M2 Money Supply; Loans likely to be light as PBOC doesn’t want then higher than last year.
No data due but after market Friday
Foreign Exchange Reserves Apr $3.198T vs 3.17T Mar (F/cast was 3.17T)
China has urged United Nations member states not to attend an event planned next week by Germany, the United States and Britain on the repression of Uyghur Muslims and other minorities in Xinjiang, according to a note seen by Reuters on Friday. The aim of the event is to "discuss how the U.N. system, member states and civil society can support and advocate for the human rights of members of ethnic Turkic communities in Xinjiang," according to an invitation.
In response "It is a politically-motivated event," China's U.N. mission wrote in the note, dated Thursday. "We request your mission NOT to participate in this anti-China event."
China charged that the organizers of the event, which also include several other European states along with Australia and Canada, use "human rights issues as a political tool to interfere in China's internal affairs like Xinjiang, to create division and turbulence and disrupt China's development.”
New Zealand wants a more mature relationship with China that goes beyond trade ties and gives room for disagreement, particularly on issues of human rights, the Pacific nation's foreign minister said on Friday. Nanaia Mahuta's comments come after Prime Minister Jacinda Ardern said this week that differences with its top trading partner were getting harder to reconcile, and the country's parliament unanimously declared human rights abuses were taking place against Uyghur people in China's Xinjiang region, angering Beijing.
Xi Jinping pledged support for Tokyo Olympics as Japan extends coronavirus emergency; telling IOC chief Thomas Bach he is confident of hosting the 2022 Winter Games in Beijing on schedule despite the pandemic. Comes as China is facing boycott threats over human rights issues
World Health Organization (WHO) added a Sinopharm vaccine to its list of approved Covid-19 jabs; good news for the vaccine maker and should prompt a bounce after Friday’s selling on concerns about IP rights being waived. Merkel and Macron have now both said that waiving IP is not a solution; key is the export of vaccines and ingredients. Sourcing the ingredients could also be an issue. Sinovac Biotech’s is due to be reviewed by the WHO by next Friday. It will help with Beijing’s Vaccine Diplomacy efforts and could mean that inoculation with them will make international travel easier, as most countries look to accept WHO vaccines as an acceptable jab to avoid lengthy quarantine.
China is stepping up efforts to control the spread of African swine fever, restricting the movement of live pigs within designated regions. While the country aims for a full recovery from the pork crisis by midyear, experts warn that this goal could be much further away. On April 29, the northern region of Inner Mongolia reported the country’s 10th sporadic outbreak of African swine fever, a disease that first erupted in China in August 2018. The new policy is to transport pork not pigs. Comes as the new outbreak has milder symptoms making them harder to detect.
Huawei’s chip unit HiSilicon to see massive decline in 5G chip market this year. It had 23% of the 5G phone chipset market in 2020, is expected to see that share shrink to less than 5 per cent this year; a sign of the power of US sanctions. MediaTek, which designs processors for mobile applications, is the major supplier to Chinese smartphone vendors like Xiaomi, Oppo and Vivo
SCMP reports that young people are turning to Mao after Tencent manager posted that young people today sleep too much. Chairman Mao argued that while the young should work hard, the load should not be too heavy and they must also rest their bodies. The Quotations from Chairman Mao Zedong collection was the sixth bestseller in the past 24 hours on online platform JD.com, moving up from a ranking of 17th over the past week. On Dangdang, another go-to place for book lovers, the Mao collection was ranked 23rd most popular in the past 24 hours, moving up from 41st over the past week. Likely to rile President Xi who is seeking to replace Mao as the protector of the Communist Party
ADR’s +85pts @ 28,695 E-commerce remains weak and selective Chinese Banks
No data due but after market Friday
Foreign Exchange Reserves Apr $490.6b vs 491.4b Mar revised (F/cast was 506b)
No data this week until Friday’s GDP Growth Rate
Short Selling Friday 16.1% vs 13.1% Thursday
Top Shorts Country Garden (2007) 42%, Galaxy Ent (27) 42%, Hengan (1044) 41%,NWD (17) 36%, Hang Seng Bank (11) 32%, Bud Apac (1876) 31% (despite good numbers yesterday), Sunny Optical (2382) 30% (after weak numbers from Largen), Bank Of China (3988) 30%, Wharf REIC (1997) 29%, BABA (9988) 28% (reports next week), Ali Health (241) 28%, BoC HK (2388) 26%, CK Assets (25%).
A fully vaccinated BGI staff member was infected with untraceable source. He was tested positive for the virus on May 5 after having his sample collected at the Yuen Long center a day before. However, after being admitted to the hospital, he was again tested negative for the virus.Follows reports that Indian relief crews were tested clear, quarantined and then become infected on joining ships. Suggest that the current test requires attention.
Hong Kong will ease quarantine for fully vaccinated inbound travelers and residents who are close contacts of people infected with Covid-19, loosening one of the world’s strictest policies amid efforts to encourage inoculation. Quarantine reduced to 7 days from 14.Inoculated people from high and medium risk origins will have their stays reduced from 21 days to two weeks plus an additional seven days of self monitoring. Those coming from extremely high risk areas will still need to quarantine for three weeks, even if they’ve received their shots.
Financial Secretary Paul Chan announced a shortened distribution period of the $5,000 consumption vouchers. While the Government will no longer disburse the vouchers in five phases, it will not be a one-off distribution neither. The voucher expiry date will be extended to before Lunar New Year.
GAC GROUP (02238.HK) announced that in 4M21, the automobile sales volume amounted to 683,700 units, an increase of 44.73% year-on-year.
BOC AVIATION (02588.HK) announced that on 7 May 2021, the Company granted Awards of Restricted Share Units (RSUs) in respect of an aggregate of 820,600 Shares to Robert Martin and Zhang Xiaolu, both Executive Directors of the Company, and certain directors of subsidiaries of the Company, pursuant to the Long Term Incentive Plan.
SF REIT (02191.HK)'s international placing was over-subscribed in two hours, said insiders. Around $377 million in margin quota, over-subscribed by 0.41 times, was purportedly recorded as of 17:30.
RONSHINECHINA (03301.HK) announced that the contracted sales in January-April 2021 approximated RMB54.178 billion, up 93.88% yearly.
MIDEA REAL EST (03990.HK) announced that for the four months ended 30 April 2021, the contracted sales amounted to approximately RMB53.06 billion, up 119.98% year-on-year. The corresponding gross floor area sold amounted to approximately 4.499 million sq.m.
Lands Department disclosed that it has received six tenders for the commercial site at Caroline Hill Road, Causeway Bay. SINO LAND (00083.HK), together with LIFESTYLE INT'L (01212.HK), KERRY PPT (00683.HK) and C C LAND (01224.HK) -0.040 (-2.174%) were among the bidders. George Hongchoy, CEO of LINK REIT (00823.HK), which is one of the suitors, said their tender reflected the group's confidence of Hong Kong's prospects
PRU (02378.HK) announced plans to decarbonise its portfolio of assets held on behalf of its insurance companies with a new goal of becoming “net zero” by 2050. The group is taking actions to help deliver on its objective, including a 25 per cent reduction in the carbon emissions of all shareholder and policyholder assets by 2025.
Snowball Finance plans to go public in the U.S., set to make filings as soon as this month and aiming to raise roughly US$300 million, reported Bloomberg. The timeline and offer size have yet to be finalized. The Chinese financial information platform, founded in 2010, had introduced US$120 million in strategic investment from Ant Group in 2018, according to the former's website.
China Association of Automobile Manufacturers wrote in a preliminary forecast that in April 2021, the sales volume totaled 2.173 million vehicles, -13.9% monthly but +5% yearly.
CAFE DE CORAL H (00341.HK) announced that in response to rumours circulating on social media about Cafe de Coral banning Filipino domestic helpers from entry, Cafe de Coral Group clarified the rumours are absolutely unfounded and untrue. The company reported the case to the Police and reserve the right to pursue further action against relevant parties.
Centa-City Leading Index (CCL) last tracked at 183.25, up 0.05% weekly to a new high since September 2019. The figure was 3.79% away from the record high.
CCL Mass grew 0.23% weekly to 185.89;
CCL (mid-and-small units) added 0.17% weekly to 183.51;
CCL (large units) slipped 0.58% weekly to 181.92.