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Next weeks focus will be on the Biden/Xi summit. Also of note will be US Retail sales and earnings from Alibaba, Baidu, JD, Nvidia, Applied Materials, Target and Walmart.
HSI +80pts (+0.3%) 25,328 HSCEI +66pts (+0.7%) 9,114 T/O HK$135.39bn (unch DoD)
HK/CHINA Connect Flows
Northbound Rmb 42,834m Sell 21,451m vs 21,384m Buy
Southbound HK$ 13,964m Sell 7,672m vs 6,293m Buy
Northbound Rmb 55,724m Sell 26,015m vs 29,709m Buy
Southbound HK$ 12,882m Sell 6,777m vs 6,105m Buy
MSCI Changes announced
Markets opened flat, FTSE drifting lower DAX and CAC trading sideways. Euro zone industrial production figures for September better than forecast.
Household goods +VE but Travel and Leisure remains weak. Earning from AstraZeneca, Richemont (+VE on Strong earnings) , Deutsche Wohnen, Deutsche Telekom and Simcorp (lower after disappointing results).
Daimler announced Thursday that its truck business will be spun off on Dec. 10 as the German automaker looks cut costs and bump up profit margins to double figures by 2025.
Opened Dow +51pts, S&P +0.2% and NDX+0.3% but have eased to Dow +24pts, S&P and NDX just +VE
Ahead JOLTs data, Michigan Prelim data and Baker Hughes Oil Rig count. Fed Speaker Williams.
CHINA CSI 300 closed -10pts (-0.2%) @ 4,888
CSI 300 opened higher but trended lower in choppy trading before finding support around 4,880 going into lunch. PM opened lower but rebounded to 4,895 before drifting lower into the close. Sentiment cautious with a rise in covid cases especially in Beijing and uncertain about support for the property sector. E-cigarettes rallied on hopes that regulatory uncertainty easing.
No injection from the PBoC today
Shanghai Comp +6pts (+0.2%) @ 3,539 T/O US$63,441m (-5.8% DoD)
Shenzhen Comp +6pts (+0.04%) @ 14,705 T/O US$102,781m (-0.2% DoD)
ChiNext Comp +18pt (+0.5%) @ 3,690
China's National Health Commission reported 98 confirmed cases of COVID-19 yesterday (10 November), with 19 of them being imported cases and 79 of them being local infections.
35 asymptomatic cases were recorded, with 12 of them being local cases.
Pre market opened @ 25,479 +231pts vs +153pts ADR’s but drifted lower through the morning and touched 25,210 after lunch but then worked better to 25,345 before easing back into the close. Key was holding above 25K.
Ecommerce +VE after a good ‘Singles day’ but sentiment remains cautious as Alibaba and JD.com warned by Chinese press for worshipping turnover.
SMIC closed lower after earnings on news the chairman was resigning.
AIA muted post results and PingAn weak on rumours it will sell its stake in Autohome. Haidilao weak after top up placement.
Developers weak on debt concerns as Kaisa warns but Evergrande rallied having made payments.
Leaders: ECommerce, Info Tech, Consumer Discreationary,
Laggards Consumer Staples, Healthcare, Industrials
Results at lunchtime
MAN WAH HLDGS (01999.HK) announced the interim results ended 30 September 2021. The net profit increased by 31.9% yearly to HK$988 million. Basic EPS was HK24.96 cents. An interim dividend of HK13 cents per share was declared, against HK10 cents per share in the same period of last year.
HONG KONG DATA
Reported 1 new cases of covid today
GDP Growth Rate Q3 0.1% QoQ vs -0.9% Q2 (F/Cast was 0.1%)
GDP Growth Rate Q3 5.4% YoY vs 7.6% Q2 (F/Cast was 5.4%)
Hong Kong's economic recovery became more entrenched in the third quarter alongside the further revival of global economic activity and stable local epidemic situation. Real GDP grew by 5.4% year-on-year in the third quarter, following a 7.6% growth in the second quarter.
Considering the actual outturn in the first three quarters of the year, the real GDP growth forecast for 2021 as a whole is revised to 6.4% in the current round of review, close to the upper bound of the forecast range of 5.5%-6.5% as announced in mid-August, the report added.
SHORT SELLING HSI Friday 15.6% vs 13.9% Thursday
Top shorts Bud APAC (1876) 48%, BoC (3988) 35%, China Res Land (1109) 34%, ICBC (1398) 34%, HSBC (5) 33%, CM Bank (3938) 33%, SHKP (16) 33%, Ping An (2318) 30%, Shenzhou Int (2313) 30%, Xinyi Solar (968) 30%, CG Services (6098) 30%, Sino BioPharm (1177) 30%, Techtronics (669) 29%, Power Asset (6) 29%, Wharf REIC (1997) 29%, Hengan (1044) 29%, AAC Tech (2018) 27%, China Life (2628) 27%, Longfor (960) 27%, Mengniu Dairy (2319) 27%, Country Garden (2007) 26%, Henderson Land (12) 26%, Baba SW (9988) 25%.
AFTER MARKET NEWS
KERRY PPT (00683.HK) announced that Brilliant Prestige Limited (BPL), a wholly-owned subsidiary of the company, has been confirmed as the selected tenderer for the Project and to participate in its subsequent grant of land use rights for plots 198-1, 200-3, 064-01, 065-01, 066-01, 067-01, 070-01, 071-01, 072-01, 073-01, Bund Street and the underground space of plot 070-02, Jiangxinan Road, Shandongnan Road, Shengze Road situated at Huangpu District, Shanghai, the People’s Republic of China. The result of the tender of the Lots and details of the Project is subject to the subsequent arrangement for the grant of land use rights and announcement to be made by the relevant land bureau. No legally binding contract in respect of the Lots or the Project has been entered into at this stage.
The Hong Kong Monetary Authority published the credit card lending survey results for the third quarter of 2021. Total card receivables increased slightly by 0.7 per cent in the third quarter to HK$124.4 billion at end-September 2021, after an increase of 3 per cent in the previous quarter.
The combined delinquent and rescheduled ratio decreased to 0.29 per cent at end-September 2021 from 0.35 per cent at the previous quarter-end. The quarterly charge-off ratio decreased slightly to 0.46 per cent from 0.47 per cent in the previous quarter.
Market sources suggested that PING AN (02318.HK) is seeking to sell its 44% stake in AUTOHOME-S (02518.HK) (ATHM.US). PING AN, in response, expressed that it has no information in this regard and no comment on said rumors, reported Chinese media.
CHINA LIFE (02628.HK) announced that the accumulated premium income of the Company for the period from 1 January 2021 to 31 October 2021 was about RMB574.8 billion, up 1.57% YoY.
The Macao Government Tourism Office (MGTO) announced the Macau Tourism Industry Development Master Plan, projecting the city's overall inbound visitors at 36 million to 41 million in 2025, reported Macao Daily. MGTO expected non-gaming spending among travelers, tourism-related employees and hotel occupancy rate to return to pre-epidemic levels, with guest room number exceeding 46,800.
Centa-City Leading Index (CCL) last printed at 186.06, down 0.11% WoW, marking the thinnest drop in 24 weeks. CCL Mass last stood at 188.06, down 0.18% WoW. CCL (small-and-medium units) last posted at 186.27, down 0.15% WoW. CCL (large units) last tracked at 184.98, up 0.07% WoW.
In the second week following the Policy Address, the housing prices of New Territories West moved upward close to the all-time high of 179.23, with the current reading only 0.56% away from the peak, highlighted the research department of Centaline Property. New Territories West's CCL Mass last at 178.23, up 0.61% WoW, logging the third record high. New Territories East's CCL Mass last printed at 201.24, up 0.37% WoW.
Wong attributed the thriving markets in New Territories West and East to the fact that the news on Northern Metropolis Development had been spiraled on market before the release of Policy Address.
Chinese President Xi Jinping has spoken on phone with US President Joe Biden two times since the beginning of the year at the latter's request, China's Foreign Ministry Spokesperson Wang Wenbin said at the regular press conference today (12th), CCTV reported. Wang voiced that the leaders of both nations agreed to keep regular contacts through various channels. At this juncture, both parties are keeping close communication for the specific arrangement of the physical meeting between the two leaders, Wang furthered, hoping that the China-US relation will return to the right track of healthy and stable development.
Market traded up to 7,420 in initial trades and then worked better but saw resistance around the 7,460, then in the afternoon eased back but found support at 7,440 and then closed +61pts (+0.8%) @ 7,443.
Miners and Energy names positive as Iron Ore and Oil prices rose. Tech also strong. Healthcare was the only laggard. JobKeeper awards continue to be disclosed with some big names and awards being named. Australian Prudential Regulation Authority (APRA) is preparing banks for the possibility of tougher curbs on mortgage lending, saying it could impose limits on higher-risk loans if they raised risks for the financial system.
BHP chairman Ken MacKenzie has not ruled out shutting down its Mount Arthur coal mine in NSW if no buyer can be found for the mining giant’s last thermal coal mine.
Consumer Inflation Expectations Nov 4.6% vs 3.6% Oct (F/cast was 3.7%)
Nikkei opened higher and traded up to 29,643 in the first 40 minutes but then eased back to 29,530 before working back to trade around 29,600 for the rest of the day and closed +332pts (+1.1%) @ 29,610
Topix traded in a similar pattern, initial high was 2,046 before easing back and closed +26pts (+1.3%) @ 2,041
Tech and large caps lead the gains with interest in the Travel sector on expectation of Govt support. Property firm too.
Toshiba announced to split the company into three. Toyota announced to increase production as factories in Japan return to normal.
Yen came back to 114 level.
Earnings still in focus but tailing off.
Leaders Property, Iron/Steel, Mining, Precision Insts
Laggards Oil/Coal, Retail, Rail, Fish/Agri and Electric Power.
Foreign buying focused on Tech, Financials and Chemicals. Local Institutions were buying internet/games. Increased T/O today. NCSoft -9% following limit up yesterday. Steel +VE ahead of China Industrial data Monday. Hugel +5.8% gets a stay on the FDS’s ban.
Leaders Steel, Brokers, Construction, Pharma
Kospi opened higher, initially tested 2,940 but then worked better to 2,975 level before easing back and trading sideways to close +43pts (+1.5%) @ 2,968
Kosdaq similar pattern tested 998 shortly after the open then worked better to 1,009 before easing back to 1,005 around 1pm but then worked slightly better to close +16pts (+1.6%) @ 1,009
Export Prices Oct 25.3% YoY vs 20.4% Sept revised
Import Prices Oct 35.8% YoY vs 26.6% Sept revised
Taiex opened higher and traded up to test 17,600 by late Morning but then sold down to 17,516 and drifted lower to 17,489 but closed +66pts (+0.4%) @ 17,518. Tech in focus with MediaTek leading the index higher. T/O was US$13.18bn vs US$14.37bn Thursday
CECC reported 9 new covid cases all imported.
MEITUAN (03690.HK) +7.400 (+2.620%) Short selling $1.01B; Ratio 15.282% closed at $289.8, up 2.6%
TENCENT (00700.HK) +7.600 (+1.591%) Short selling $1.11B; Ratio 9.556% closed at $485.2, up 1.6%
BABA (09988.HK) -0.800 (-0.490%) Short selling $993.66M; Ratio 25.216% closed at $162.4, down 0.5%
PING AN (02318.HK) -0.200 (-0.340%) Short selling $562.50M; Ratio 30.418% closed at $58.65, down 0.3%
AIA (01299.HK) +0.250 (+0.301%) Short selling $92.63M; Ratio 3.677% closed at $83.2, up 0.3%
HKEX (00388.HK) +0.400 (+0.086%) Short selling $196.79M; Ratio 16.720% closed at $465, up 0.1%
HSI & HSCEI Constituents on Move:
EVERGRANDE (03333.HK) +0.250 (+9.881%) Short selling $36.34M; Ratio 5.581% closed at $2.78, up 9.9%
HAIDILAO (06862.HK) -2.000 (-9.009%) Short selling $200.94M; Ratio 5.750% closed at $20.2, down 9%
NONGFU SPRING (09633.HK) +3.450 (+8.456%) Short selling $53.63M; Ratio 3.642% closed at $44.25, up 8.5%
JD (09618.HK) +16.200 (+5.169%) Short selling $504.97M; Ratio 23.019% closed at $329.6, up 5.2%
SUNNY OPTICAL (02382.HK) +10.200 (+4.722%) Short selling $241.64M; Ratio 19.798% closed at $226.2, up 4.7%
NTES (09999.HK) +7.700 (+4.627%) Short selling $252.26M; Ratio 37.740% closed at $174.1, up 4.6%
CK ASSET (01113.HK) -2.200 (-4.579%) Short selling $118.31M; Ratio 14.442% closed at $45.85, down 4.6%
JD LOGISTICS (02618.HK) -1.350 (-4.042%) Short selling $14.08M; Ratio 5.071% closed at $32.05, down 4%
SMIC (00981.HK) -0.900 (-3.830%) Short selling $60.05M; Ratio 2.009% closed at $22.6, down 3.8%
SHENZHOU INTL (02313.HK) +5.700 (+3.448%) Short selling $90.63M; Ratio 30.377% closed at $171, up 3.4%
HANSOH PHARMA (03692.HK) +0.540 (+3.034%) Short selling $8.31M; Ratio 9.236% closed at $18.34, up 3%
HSMI & HSSI Constituents on Move:
HENGTEN NET (00136.HK) -0.320 (-15.686%) Short selling $79.03M; Ratio 10.703% closed at $1.72, down 15.7%
RAZER (01337.HK) +0.310 (+13.901%) Short selling $16.67M; Ratio 2.890% closed at $2.54, up 13.9%
EVEREST MED-B (01952.HK) +5.400 (+13.882%) Short selling $5.58M; Ratio 12.286% closed at $44.3, up 13.9%
ASCENTAGE (06855.HK) +3.700 (+12.870%) Short selling $2.82M; Ratio 3.421% closed at $32.45, up 12.9%
SKYWORTH (00751.HK) -0.740 (-12.111%) Short selling $90.97M; Ratio 11.766% closed at $5.37, down 12.1%
HUABAO INTL (00336.HK) +1.940 (+11.844%) Short selling $33.09M; Ratio 9.798% closed at $18.32, up 11.8%
MAN WAH HLDGS (01999.HK) currently has no plan to issue special dividends for its upcoming 30th anniversary, remarked Wong Man Li, chairman of the board of directors. Wong expressed that the company intends to preserve the financial resources for the purpose of business expansion. MAN WAH HLDGS has acquired a sofa manufacturer and furniture components manufacturer over 6M21, which was beneficial in perfecting the company's product mix, he remarked.
Geely pickup business has been separated from Geely's commercial vehicle group to form an independent company, reported Cailianshe, citing sources from Geely insiders. The ring-fence is currently in the internal incubation stage. People familiar with the matter suggested that Geely's pickup business will be transformed into a premium electric brand targeting rival Rivian (RIVN.US), and is scheduled to release an all-electric pickup model in 2H22.
SUNAC (01918.HK) is considering selling its cultural and tourism asset to prepare for sequential debt payment, Bloomberg citing insiders. SUNAC plans to dispose of Sunac Culture & Tourism, being its cultural and tourism asset operation, and is in touch with some potential buyers, revealed the sources. However, the deal is still in initial talks.
After China Banking and Insurance Regulatory Commission (CBIRC) purportedly probed into the over-RMB100-billion connected transaction between SHENGJINGBANK (02066.HK) and EVERGRANDE (03333.HK), the UK Financial Times cited sources that the related probe has been in advanced stage. The Chinese regulator investigated SHENGJINGBANK's loan exposure in EVERGRANDE meticulously, as well as EVERGRANDE Chairman Hui Ka Yan's role in the connected transaction. According to the report, SHENGJINGBANK and EVERGRANDE may entangle in potential illegalities in a single debt cap issue.
PING AN (02318.HK) is looking to sell a 44% AUTOHOME-S (02518.HK) (ATHM.US) stake, Reuters citing sources. However, AUTOHOME-S told STAR Market Daily that it has no information in this regard and no comment on market rumors.
PING AN (02318.HK) is looking to sell a 44% AUTOHOME-S (02518.HK) (ATHM.US) stake worth US$2.15 billion based on the current stock price, Reuters citing sources. The insurer has held relevant talks with many strategic investors and private equity firms in recent months.
Chinese carmakers, especially EV makers, are increasingly dependent on its own distribution networks instead of dealerships, according to sources.
Gain Miles announced that, driven by the Federal Reserve's decision to begin tapering the bond-buying program in November, projected dovish interest rate hike, strong employment data in October and the passage of the $1 trillion infrastructure bill, the U.S. stocks continued to notch record highs, propelling the overall MPF market to track positive return in October. As of 31 October, Gain Miles MPF Composite Index rose 2%, to post at 257. Over the month of October, the average MPF gain per member was $5,238, the announcement added.
Sinovac Inactivated Covid Vaccine is now only allowed to be applied on people aged 18 or above. Hong Kong's Advisory Panel on COVID-19 Vaccines, set to convene a meeting next Monday (15th), will discuss the application of Sinovac to lower the suitable vaccination age to three years old.
SMIC (00981.HK) announced that SMIC Holdings, a wholly-owned subsidiary of the company, China IC Fund II and Hailinwei entered into the Lin-Gang Joint Venture Agreement to jointly establish the Lin-Gang Joint Venture Company. The registered capital of the Lin-Gang Joint Venture Company is US$5.5 billion, of which SMIC Holdings, China IC Fund II and Hailinwei agreed to contribute US$3.655 billion, US$922 million and US$923 million, respectively, representing 66.45%, 16.77% and 16.78% of the registered capital of the Lin-Gang Joint Venture Company, respectively.
Lin-Gang Project is aimed at setting up a production line with a production capacity of 100,000 12-inch wafer per month in the Shanghai Pilot Free Trade Zone Lin-Gang Special Area.
NEW ORIENTAL-S (09901.HK) will not be shut down, as Chairman Yu Minhong responded to Chinese media, saying only the training business at the compulsory education stage will be switched off. The international business and university operation, on which the company was founded, will still be ongoing, Yu added.
China's state-run Economic Daily published a commentary titled "Metaverse-concept Stock Speculation Is Undesirable". Metaverse-concept A-share players were sought after by funds, jumping over 60%-80% in the past week of November. Such uptick gave regulators a jolt. Specifically, Shenzhen Stock Exchange issued letters of concern to several firms linked with this concept, asking them to elaborate the connection between their principal businesses and metaverse. Metaverse is not even close to the common people, according to the article, adding an excessive themed-concept speculation is unfavorable to the healthy capital market development.
Hurun Research Institute published the Hurun Richest Self-Made Women List 2021 today (12th), laying out the top 50 richest women in China this year. Among which, COUNTRY GARDEN (02007.HK) Co-Chairman Yang Huiyan ruled the board for the ninth time with wealth of RMB185 billion.
LONGFOR GROUP (00960.HK)Chairman Wu Yajun came in second with worth of RMB95 billion; followed by HLSH (600346.SH) Chairman Fan Hongwei, who owned RMB90.5 billion. The top 50 richest women in China manifested a total wealth of RMB1.9 trillion in the latest Hurun study.
Overnight HIBOR last posted at 0.04679%, logging a 1-month high, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.07424%, up for 5 days, marking a 1-month high.
Joanne Crevoiserat, CEO of Coach's owner Tapestry, Inc. (TPR.US), mentioned the further strengthening of the middle class, being target customers of the company, Bloomberg reported. She believed the company will not be threatened by China's "common prosperity" push.
ANTA SPORTS (02020.HK) announced that the total GMV of e-commerce operators during the "Double 11" Shopping Festival (1-11 November) surpassed RMB4.65 billion, up 61% YoY. Under the sportswear category of Tmall platform, the group's related brands marked a total GMV proportion of over 22%.
Network for Electronic Transfers (NETS), Singapore’s leading payment services group and Ant Group jointly announced at the Singapore FinTech Festival 2021 the plan for NETS to integrate Alipay+ to further enhance the digital payments capabilities of NETS’ local merchants.
NETS’ merchants in Singapore will leverage Alipay+ solutions to provide a seamless and efficient mobile payments experience for inbound visitors by early 2022, the announcement added.
LENOVO GROUP (00992.HK)'s Double 11 sales value exceeded RMB7.5 billion across networks, notching an all-time high, announced the group on social media platform.
SMIC (00981.HK) expects revenue to increase by 11% to 13% QoQ in the fourth quarter. At a conference call, SMIC Co-CEO Zhao Haijun predicted revenue growth from production capacity expansion and ASP hike, extending last quarter's growth momentum. Sector revenue may edge up in low double-digits next year, likely ahead of the sector average level. Overall, Zhao saw fair growth in the next tape-out among U.S., Eurasian and Chinese customers.
CM BANK (03968.HK) (600036.SH) clarified on an interactive platform that certain rumors online suggesting that CM BANK will exit the operation of public housing property loans are completely false, reported National Business Daily. The bank urged the investors not to trust or spread relevant rumors.
U.S. President Joe Biden and his Chinese counterpart Xi Jinping are said to be holding a virtual meeting next week. President Xi may extend his personal invitation to Biden to attend the Beijing 2022 Winter Olympics slated for February 2022, CNBC citing sources.
MSCI announced the result of the semi-annual review on the constituent stocks of the Global Standard Indexes. Six stocks will be added to Hong Kong Small Cap Index, while five will be deleted. All changes will take place as of the market close of November 30, 2021.
The Index added: C.P. POKPHAND (00043.HK), LK TECH (00558.HK), PAX GLOBAL (00327.HK), SJM HOLDINGS (00880.HK), VIVA CHINA (08032.HK) and WYNN MACAU (01128.HK).
The Index deleted: HUOBI TECH (01611.HK), MACAU LEGEND (01680.HK), SUNCITY GROUP (01383.HK), TVB (00511.HK) and VPOWER GROUP (01608.HK) .
CK ASSET (01113.HK) is expecting to introduce three brand-new residential projects next year, involving approximate 3,000 units in total, expressed Justin Chiu, the group's Executive Director. Phase three of "THE SOUTHSIDE", the residential project jointly developed by the group and MTR CORPORATION (00066.HK) -0.300 (-0.701%) Short selling $10.10M; Ratio 10.159% , will provide 1,200-1,300 units. The Siu Sau Tsuen project in Area 55, Tuen Mun, jointly developed by the group and SHK PPT (00016.HK) -0.600 (-0.595%) Short selling $151.32M; Ratio 32.634% , and the residential project in 5 & 8 Tung Yuen Street, Yau Tong, on the other hand, will supply around 800 units each.
Airport Authority Hong Kong (AAHK) announced that the arrivals and departures levels within the Terminal 1 restricted area at Hong Kong International Airport will be split into two zones, so as to segregate Mainland China flight passengers and staff from those on non-Mainland flights. The new measure will take effect from next Monday (15 November).
The Airport will be divided into "green zone" for Mainland flights (gates 1-24), and "orange zone" for all other international flights (gates 25-71).
Pre Market News
TENCENT (00700.HK) offloaded 43.9 million shares of HENGTEN NET (00136.HK) at an average price of $1.9601 per share on market yesterday (11th), cashing in approximately $86.0484 million, according to the Stock Exchange's disclosure. Upon completion, TENCENT's shareholding in HENGTEN NET dropped to 22.94% from 23.41%.
Wheelock Properties disclosed that it has so far received over 5,000 checks for "MONACO ONE", the group's residential project located in Kai Tak, representing an oversubscription of nearly 15x, which sets a new high in the Kai Tak district.
In yesterday's notice to investors, KAISA GROUP (01638.HK) 0.000 (0.000%) said it may be unable to settle coupon payments on bonds given legal and cross-default problems both at home and abroad, REDD cited sources. The embattled developer has no conclusion on the matter yet. The US$58.5-million and US$29.9-million bonds of KAISA GROUP were due yesterday and today. A 30-day grace period countdown will begin if it is unable to pay coupons as scheduled.
SMIC (00981.HK) announced that Chiang Shang-Yi resigned as the Vice Chairman of the Board with effect from 11 November 2021 in order to spend more time with his family. Besides, Liang Mong Song resigned as an executive Director with effect from 11 November 2021 in order to focus on discharging his duties as the Co-Chief Executive Officer of the Company.
Hong Kong's Chief Executive, Carrie Lam, attended the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Dialogue with the APEC Business Advisory Council (ABAC) via video conferencing yesterday night (November 11). Lam remarked that Hong Kong is among the most effective in the world in controlling COVID-19 and that the city will continue to promote vaccination and will work hard to resume quarantine-free cross-boundary people flow with Mainland China and other parts of the world. Also, she expressed that Hong Kong will strive to achieve carbon neutrality by 2050 through a series of decarbonisation efforts, and that she welcomed the participation of the business sector.
HSBC HOLDINGS (00005.HK) announced that it repurchased 2.3772 million shares of the company in the London market yesterday (11th), at a price ranging between GBP4.3235 and GBP4.38, with a volume weighted average price of GBP4.3443, involving a total of GBP10.3273 million.
AIA (01299.HK) announced that the value of new business (VONB) reached US$735 million for the third quarter ended 30 September 2021, up 2% YoY on CER basis or up 4% on AER basis. The figure trailed street consensus, as compared with brokers' median VONB forecast of US$753 million on AER basis as complied by our reporters. VONB margin rose 6.9 ppts YoY to 58.5% on AER basis. Annualised new premiums (ANP) fell 8% to US$1.249 billion. Total weighted premium income (TWPI) up 2% to US$8.952 billion.
HAIDILAO (06862.HK) announced to place 115 million shares through a top-up placing, at a price of HK$20.43 per share, which represent approximately 2.06% of the issued share capital of the company as enlarged by the allotment and issue of the subscription shares. The placing price of HK$20.43 represents a discount of nearly 8% to the closing price as quoted on the Stock Exchange yesterday (11th). The net proceeds from the subscription are estimated to be approximately HK$2.337 billion, net of professional fees and out-of-pocket expenses. The company intends to use 30% of the proceeds for enhancing supply chain management and product development; another 30% for the repayment of credit facilities and the remaining 40% for working capital and general corporate purpose of the group.
MSCI announced the result of the semi-annual review on the constituent stocks of the Global Standard Indexes. The Hong Kong Index did not add any new stock, but removed two stocks. All changes will be implemented as of the market close of November 30, 2021. The MSCI Hong Kong Index removed SJM HOLDINGS (00880.HK) and WYNN MACAU (01128.HK)
XIAOMI-W (01810.HK) announced on its official Weibo that the total payment amount of all of its channels during "11.11 Sales" this year towered RMB19.3 billion.
At the Double 11 media communication meeting, BABA-SW (09988.HK)'s Tmall business group vice president Chu Xue revealed the outstanding
performance of 290,000 merchants participating in the shopping bonanza, including Guochao time-honored brands, new brands and big global brands. Equally, Chu saw a brand tracking sales value of over RMB10 billion for the first time during this year's Tmall Double 11 shopping gala.
Chinese e-commerce platforms have officially closed their "11.11 Sales" last midnight (11th). As at 00:00 on 12th, BABA-SW (09988.HK)'s Tmall "11.11 Sales" manifested a gross merchandise volume (GMV) of RMB540.3 billion, up 8.45% YoY. Meanwhile, the performance of various brands during the shopping carnival also marked new league. As at 00:45 on 11th, 411 brands which had over RMB1 million GMV last year tracked over RMB10 million sales this year.
The Double 11 Shopping Festival came to an end at 0:00 today (12 November). JD-SW (09618.HK)announced that, as of 23:59 on 11 November, the accumulative order value exceeded RMB349.1 billion, hitting a record high and up 28.6% from last year's aggregate value of RMB271.5 billion.
GCL-POLY ENERGY (03800.HK) announced that Jiangsu Zhongneng Polysilicon, a subsidiary of the Company, has officially put the increased 20,000 metric tonnes production capacity in Fluidized Bed Reactor (FBR) based granular silicon into production on 10 November. The Company obtained the world's first FBR granular silicon carbon footprint certification certificate issued by ADEME (French Environment and Energy Management Agency) in October 2021.
SMIC (00981.HK) announced the result for 3Q ended 30 September 2021. The revenue amounted to USD1.415 billion, up 30.7% YoY and 5.3% QoQ. The net profit for the period stretched 25.3% YoY to USD321 million, but went down by 53.3% QoQ.
REMEGEN-B (09995.HK) announced that in accordance with the review results of the Listing Committee for the Sci-Tech Board of the Shanghai Stock Exchange, the Proposed Issue of A Shares and listing on the Sci-Tech Board of the Shanghai Stock Exchange by the Company has been approved.