Nov 16 Asian wrap HK rallies +VE Gamers China Debt concerns remain, Rest of Asia mixed


16 Nov

This and previous notes can be found at asianmarketsense.com and Substack ( Asian Market Sense )
Check out ERI-C.com  for your research needs
Biden / Xi summit statements interesting differences and views on the same meeting.  The key take-away is that the meeting has probably eased some of the tensions but key will be the follow up actions.

(US) Https://www.whitehouse.gov/briefing-room/statements-releases/2021/11/16/readout-of-president-bidens-virtual-meeting-with-president-xi-jinping-of-the-peoples-republic-of-china/(Chinese) http://www.gov.cn/xinwen/2021-11/16/content_5651232.htm
HSI +323pts (+1.3%) 25,713 HSCEI +140pts (+1.5%) 9,226 T/O HK$131.03bn (+10.5% DoD)  

HK/CHINA Connect Flows
Shanghai
Northbound Rmb 44,084m Sell 22,074m vs 22,010m Buy
Southbound HK$ 12,781m Sell 7,606m vs 5,175m Buy
Shenzhen
Northbound Rmb 59,576m Sell 27,656m vs 31,919m Buy
Southbound HK$ 13,385m Sell 6,371m vs 7,014m Buy

Europe
Markets opened flat ahead of European and US data and a mixed handover from Asia.
Bitcoin weaker as China targets crypto mining again.
Eurozone
Employment Change, GDP Growth Rate
France Inflation Rate in line at 2.6% YoY
UK  Unemployment Rate Septfalls to 4.3%,
Other data out Claimant Count Change, Employment Change Aug 247k (beat F/cast), Average Earnings weaker than F/cast, Labour Productivity weaker than F/cast,
US Futures
Opened  flat Dow +18pts, S&P and NDX just +VE but slipped through the day; now Dow +3pts S&P and NDX mildly +VE.
AHEAD
Retail Sales, Export & Import Prices, Redbook, Industrial Production, Manufacturing Production, Capacity Utilisation, Business Inventories, NAHB Housing Market Index, Retail Inventories, Foreign Bond Investment, Overall Net Capital Flows, Net Long Term TIC flows, API Crude Oil Stock Change.
Earnings Walmart, Home Depot, La-Z-Boy, Vodafone, Aramark, NetEase, TransDigm
Fed Speakers Richmond Fed President Thomas Barkin, Atlanta Fed President Raphael Bostic, Kansas City Fed President Esther George, Minneapolis Fed President Neel Kash


CHINA CSI 300 closed +1pts (flat) @ 4,883
CSI 300 opened flat but rallied initial to 4,895, retrenched but then to test 4,910 as the Biden / Xi summit got underway on seemingly friendly terms. Then market traded sideways but with resistance at 4,910 level. PM the market sold-off first to yesterday’s closing level, saw a couple of bounces before dipping below in the last 30 minutes and then rebounded in the close.
Laggards Raw materials (Coal prices being hit by drop in demand from Steel mills -VE) and Financials on property debt concerns.
Gaming names +VE on news China to start approving online games
again. Property +VE on easing of curbs to allow developers to make sales.

Shanghai Comp -12ts (-0.3%) @ 3,522 T/O US$63,546m (-3.3% DoD)
Shenzhen Comp -22pts (-0.2%) @ 14,614 T/O US$104,054m (-4% DoD)
ChiNext Comp -20pt (-0.6%) @ 3,655

CHINA DATA
China's National Health Commission reported 22 confirmed cases of COVID-19 yesterday (15 November),
with 11 of them being imported cases and 11 being local infections (including seven local cases recorded in Liaoning).

HONG KONG 
Pre market opened @ 25,446 +55pts vs -43pts ADR’s; Tencent +VE as it sells down Hengten Net. HSBC +VE. Saw an initial dip but then rallied as Biden / Xi summit got underway in a frank and friendly tone. Saw some resistance 25,575 and then later at 25,600 before clicking higher into lunch; +267pts (+1%) @ 25,658. PM ticked initially higher on the positive summit feedback but then dipped back to the lunchtime level before working slowly higher and ticked higher in the closing auction. Helped by Tencent rallying on news that online game approvals to resume and news ‘Honor of Kings’ regains #1 spot in global revenue. Macau names +VE as it talks about easing restrictions for those who are fully vaccinated and boosted. Wynn Macau +6.8% as occupancy recovered to 50% sincecovid outbreak stabilised and the coming weekend bookings at 60%. Galaxy & Sands +5% plus.
L’Occitane +12.7% on news its to buy 83% of US Sol De Janeiro
Chinese Airlines +VE after +VE monthly load data

HONG KONG DATA
Reported 1 new cases of covid today (imported)
Unemployment  
Oct 4.3% vs 4.5% Sept (F/cast was 4.4%)

SHORT SELLING HSI  Tuesday 16% vs 17.1% Monday
Top shorts 
Ping An (2318) 39%, China Res Land (1109) 39%, CG Services (6098) 36%, Bud APAC (1876) 33%, HSBC (5) 31%, Country Garden (2007) 30%, Sunny Optical (2382) 27%, Longfor (960) 27%, CM Bank (3968) 27%, Hengan (1044) 26%, Baba-SW (9988) 26%,  Anta Sports (2020) 25%, Wuxi Bio (2269) 25%, Petrochina (857) 25%, Ali Health (241) 25%

AFTER MARKET NEWS

KINGSOFT (03888.HK)  announced that net profit for the third quarter ended 30 September 2021 decreased 15.2% year-on-year to RMB565 million. EPS  equaled RMB0.41.

Kennedy 38, a residential project at 38 Belcher's Street, Hong Kong Island West developed by SHK PPT (00016.HK) , Wheelock and HENDERSON LAND (00012.HK),  rolled out the third price list for 35 units. The discounted selling  price of the batch approximated $6.2829 million to $9.9639 million per  unit, implying an average price of $28,633 per sq.ft..   The first  log of 130 units will be launched this Saturday (20th) at an average  discounted price of $27,522 per sq.ft., said SHK PPT Deputy Managing  Director Victor Lui.  Almost 900 subscriptions have been received so far for the first log, which will be closed this Friday (19th).

Fitch Ratings downgraded KAISA GROUP (01638.HK)'s Long-Term Foreign-Currency Issuer Default Rating to "C", from "CCC-", and its senior unsecured rating to "C" from "CCC-", with the Recovery Rating maintained at "RR4". Fitch expressed that there has been no announcement from KAISA GROUP or the trustee in relation to any progress in the group's USD58.8 million coupon payment due last Thursday (11th) for its USD1 billion 11.7% bond due 2025, and the USD29.9 million coupon payment due last Friday (12th) for its USD500 million 11.95% bond due 2023. As a result, Fitch downgraded the credit rating of the company on the assumption that it has already entered the 30-day grace period after which the non-payment would constitute a default.Macau's Chief Executive Ho lat-seng announced the latest Policy Address, in which he foretold the Macau government will endeavor to foster orderly and benign development of the gaming industry, by perfecting the relevant laws and regulations, as well as the oversight procedures, reported Macao Daily News.  Ho remarked that the government will proceed with the re-tendering works for the gaming concession with the aim to enrich Macau's value as an international travel center, facilitate the stable development of the gaming sector and secure employment opportunities for Macau's citizens.

EVERGRANDE (03333.HK) Chairman Hui Ka Yan, having previously pledged two houses at Black's Link of The Peak for loans, was later founded holding a third property, Unit 10E, at the same district, HK01 reported. Pledging Units 10C and 10E at Black's Link at a total market value of about $1.8 billion to the finance company "Orix", Hui borrowed up to about $821 million in total by adding two offshore companies as guarantors, one of which is tied to Hui's wife.Regional Markets
Australia
Market opened lower with caution ahead of RBA minutes, Energy names weak along with Iron Ore futures -VE BHP and Rio but Coal prices continue to surge in US. CSL and Commonwealth Bank and the other three financials weak but Virgin Money UK +2.6% and Westpac raised mortgage rates for the third time in a month
Market found support around the 7,420 level and after the initial sell off, traded 7,440 down to 7,420 although it did at one point dip to 7,415 and bounced but then eased into the close -50pts (-0.7%) @ 7,420
RBA minutes showed it changed it’s mind on inflation in the past month becoming far more dovish with a shift to rising inflation ahead, and confirmed in the governors speech.
Lovisa +VE on Macquarie upgrade. Telstra weak on investor day but T/O light. Elders weak despite good earnings.
Data
RBA Meeting Minutes
Japan
Nikkei saw a weak open and saw resistance at yesterday’s closing level until 10:45 when it broke higher to 29,960 before easing back into lunch at 29,835. No clear trigger but +VE comments from the Biden/Xi summit. PM opened flat working higher.
Topix opened higher saw an early dip to test yesterday’s close before resuming higher. Also spiked, to 2,063 before easing into lunch. PM opened lower currently +7pts (+0.3%) @ 2,055
Turnover remains muted. Recruit weak after good result, MurataMfg strong after releasing business plan. MUFJ weak despite good earnings and outlook. Softbank +VE share buybacks underway? Seems sell the news is the plan for today.
Leaders: Insurers, Miners, Autos and Wholesale
Laggards: Shippers (Freight rates falling), Services, Rail, Machinery.
Data due at 12:30 HK time.
Tertiary Industry Index Sept (Aug was -1.7% MoM F/cast is -2%)
S Korea 
Foreigners resume as buyers of Internet names, Tech and Financials but selling Pharma and Auto. Local Institutions sidelined watching to see if 3,000 holds, likely to turn buyers as it does. SEC slight +VE as it holds investor day. Krafton +VE latest game seeing good adoption and news China to resume approving online game. Dear U continued buying after last weeks IPO debut.
Kospi opened lower having seen resistance at 3,000 yesterday, dipped to 2,985 in the first 35 mins but then rallied at the Biden/Xi summit got underway, opening minutes on TV were +VE. Hit resistance at 3,005, dipped before rallying to 3,010, but then eased back to trade around 3,000 level; before dipping to test 2,993 before rally to close -2pts @ 2,997
Kosdaq flat open, early dip to 1,027 before rallying; initially 1,033 before working higher, some resistance around 1,035; but rallied at the end to close +6pts (+0.6%) @ 1,036.
Taiwan 
Taiex opened higher and worked higher to 17,708 as Biden / Xi Summit started well, resistance at 17,710 around 9:50am and then traded sideways/lower for an hour before selling down to test Monday’s close. Bounced back to 17,670 and then rallied to close +59pts (+0.3%) @ 17,693
Leaders Industrials, Consumer names,Telcos.
Laggards Energy, Materials, Healthcare and Property.
T/O was US$13,61bn vs US$13.55bn Monday

Movers
Active Heavyweights

MEITUAN (03690.HK) +7.800 (+2.693%) Short selling $379.56M; Ratio 13.076% closed at $297.4, up 2.7%
BABA (09988.HK) +3.700 (+2.291%) Short selling $416.25M; Ratio 33.017% closed at $165.2, up 2.3%
TENCENT (00700.HK) +10.700 (+2.176%) Short selling $310.72M; Ratio 6.778% closed at $502.5, up 2.2%
PING AN (02318.HK) +0.700 (+1.213%) Short selling $107.96M; Ratio 31.265% closed at $58.4, up 1.2%
AIA (01299.HK) +0.650 (+0.763%) Short selling $27.86M; Ratio 3.808% closed at $85.8, up 0.8%
CCB (00939.HK) +0.030 (+0.573%) Short selling $44.50M; Ratio 12.241% closed at $5.27, up 0.6%
HKEX (00388.HK) +0.800 (+0.172%) Short selling $97.88M; Ratio 18.478% closed at $466, up 0.2%

HSI & HSCEI Constituents on Move:
NONGFU SPRING (09633.HK) +3.350 (+7.444%) Short selling $32.24M; Ratio 4.790% closed at $48.35, up 7.4%
HAIDILAO (06862.HK) +1.200 (+6.000%) Short selling $56.04M; Ratio 18.126% closed at $21.2, up 6%
SANDS CHINA LTD (01928.HK) +1.100 (+5.972%) Short selling $52.41M; Ratio 10.431% closed at $19.52, up 6%
XINYI GLASS (00868.HK) -1.150 (-5.239%) Short selling $11.17M; Ratio 9.503% closed at $20.8, down 5.2%
GALAXY ENT (00027.HK) +2.250 (+5.085%) Short selling $97.49M; Ratio 10.600% closed at $46.5, up 5.1%
CG SERVICES (06098.HK) +2.550 (+4.322%) Short selling $72.48M; Ratio 31.112% closed at $61.55, up 4.3%
GEELY AUTO (00175.HK) +1.050 (+4.150%) Short selling $169.12M; Ratio 13.459% closed at $26.35, up 4.2%
NTES (09999.HK) +7.000 (+3.975%) Short selling $87.09M; Ratio 29.494% closed at $183.1, up 4%
SINO BIOPHARM (01177.HK) +0.210 (+3.757%) Short selling $21.66M; Ratio 18.075% closed at $5.8, up 3.8%
EVERG SERVICES (06666.HK) +0.140 (+3.423%) Short selling $13.65M; Ratio 9.633% closed at $4.23, up 3.4%

HSMI & HSSI Constituents on Move:

POLY PPT DEV (06049.HK) +8.750 (+19.168%) Short selling $75.34M; Ratio 12.229% closed at $54.4, up 19.2%
KOOLEARN (01797.HK) +0.730 (+13.985%) Short selling $1.11M; Ratio 1.282% closed at $5.95, up 14%
RAZER (01337.HK) +0.290 (+11.462%) Short selling $16.32M; Ratio 12.324% closed at $2.82, up 11.5%
XD INC (02400.HK) +5.350 (+10.930%) Short selling $5.39M; Ratio 5.856% closed at $54.3, up 10.9%

Market News Macau's Chief Executive Ho Iat-seng announced in the 2022 Policy Address that, to a certain degree, Macau's economy has recovered compared to 2020, with the full-year GDP hopeful to achieve a double-digit growth. On another note, Ho announced that the Macau government will unroll another round of cash handout next year, distributing MOP10,000 to permanent residents of the city and MOP6,000 to non-permanent residents.

Chinese President Xi Jinping held a virtual conference with the U.S. President Joe Biden this morning, during which the latter stated the U.S.-China relation is the most important bilateral relationship in the world, cited Xinhua News Agency.  Biden also remarked that both nations should, through open and candid communication, ensure their competition is fair and benign, instead of confrontational. The U.S. President agreed with his Chinese counterpart that the U.S.-China relation can only go forward, not backward. Biden reiterated that the U.S. is not seeking to change the system of China and has no intention to have any conflict with China.

Chinese President Xi Jinping met with US President Joe Biden virtually this morning, Xinhua News Agency reported. Xi suggested that the nature of the economic and trade bond between China and the U.S. should be mutually beneficial, viewing their economic and trade issues should not be politicized as "business is business".
Both countries should join forces to "bake a big cake", Xi described, conceding China attaches paramount importance to Americans' demand for easier business channels in China. Hence, Xi agreed to implement the upgraded version of "fast track", believing such move to promote the economic and trade ties of the two nations and push forward their economic revival.

The Arles, a Fo Tan residential project under Centralcon Properties, has sold a total of 815 flats since the launch roughly a month ago, representing around 71% of the available units. The transaction price ranges between $5.097 million and $22.893 million per unit, implying a selling price of $15,803 to $26,828 per sq.ft. and an average price of about $20,225. The project has cashed in more than $8.1 billion.

RAZER (01337.HK)'s top executives intend to privatize the company in a deal valued at $35 billion, Reuters cited people with the knowledge of the matter.  RAZER's chairman cum controlling shareholder Min-Liang Tan, and non-executive director cum second major shareholder Kaling Lim, hold almost 60% stake in the company altogether at this moment. They are leading a consortium to offer up to $4 per share for the deal, almost a double of the average share price of $2.1 of RAZER over the last month.  RAZER's share price soared after midday, peaking at $3.1. It last stood at $2.9, up 14.6%, on volume of 116 million shares.

The Chinese President Xi Jinping began the video conference with the U.S. President Joe Biden at 8:46 am in Beijing time on 16 November, during which the two parties exchanged opinions on issues related to the China-U.S. relations and topics of mutual interest. The first half of the meeting was concluded at 10:42 am, followed by the second session of the meeting which started at 11:06 am. The entire meeting has ended at 12:24 pm.

EVERGRANDE (03333.HK)  Chairman Hui Ka Yan mulls over selling luxury assets comprising art, calligraphy and two high-end homes to freeing up funds for the group's debt repayment, Reuters citing sources.
Evergrande has been selling some art and calligraphy to raise new funds under Hui's orders, a person said.

Chinese regulator has not granted edition numbers for home-grown online games for three straight months, 21st Century Business Herald reported, yet citing multiple insiders of game developers that the approval of relevant edition numbers may be resumed in near term.
Numerous insiders of game developers in China coincidently revealed during their interview that such numbers may be released again, and that the new batch of numbers is likely to be unrolled this month.

China's Ministry of Finance (MOF) announced that the budget for renewable energy subsidy in 2022 will be RMB3.87 billion in total, with RMB1.55 billion scheduled to be allocated to wind power projects, RMB2.28 billion to solar power projects and RMB38.24 million to biomass power projects.U.S. Senate Majority Leader Chuck Schumer expressed that the Senate intends to include certain provisions of the "U.S. Innovation and Competition Act" (USICA), which is aimed at enhancing U.S.'s competitiveness against China, in "National Defense Authorization Act" (NDAA), which is scheduled to be passed this week, reported Reuters. Doing so would not guarantee that the relevant provisions will be signed into law but would increase the probability of them being passed by the House of Representatives, Schumer added.

Temasek Holdings has exited from Kanzhun, TAL Education Group (TAL.US), New Oriental Education & Technology Group (EDU.US) in 2Q, according to declaration filings Temasek submitted to the U.S. Securities and Exchange Commission (SEC).  The Singaporean state-own sovereign fund likewise exited from Baidu (BIDU.US) and trimmed its holding in Alibaba Group (BABA.US) and DiDi Global (DIDI.US)

Tmall migrated its Double 11 shopping festival to the cloud with the help of BABA-SW (09988.HK)'s Alibaba Cloud. Leveraging fully cloud-native innovation technology, Alibaba Cloud managed to halve the computing resources required per 10,000 Double 11 deals YoY. Equally, the technical delivery efficiency was heightened by 20% through cloud-native technology.

TENCENT (00700.HK) 's "Honor of Kings" reclaimed the top spot on the list of top-grossing mobile games around the globe in October 2021, with its global revenue hiking by 46.2% YoY to USD329 million, according to data recently released by Sensor Tower on 11 November.
PUBG Mobile, which is also owned by TENCENT, was ranked second, with a revenue of USD197 million in October, the report added.Hesai Technology, the Chinese manufacturer of 3D-sensors (LiDAR), announced the receipt of additional financing of US$70 million from Xiaomi Industry Funds. On top of the previous over-US$300-million financing, Hesai has so far obtained more than US$370 million in round D financing.  The financing was led by XIAOMI-W (01810.HK), MEITUAN-W (03690.HK) , GL Ventures, CPE, and more.  This round of financing will be used to fund the large-scale mass production and delivery of hybrid solid-state LiDAR, the construction of Hesai Maxwell's intelligent manufacturing center, and the R&D of automotive-grade high-performance LiDAR chips.Macau gaming stocks rocketed this morning (16th), with SANDS CHINA LTD (01928.HK)  and GALAXY ENT (00027.HK)  +2.000 (+4.520%) rallying over 5%, as Macau Chief Executive Ho Iat Seng is poised to release his Policy Address 2022 at 3pm today at the Legislative Assembly.

Chief Executive Carrie Lam reassured that the recently diagnosed Covid case of a CATHAY PAC AIR (00293.HK)'s pilot has not affected Hong Kong Government's discussion with Mainland China on border resumption. The 21-day quarantine measure on the pilot, which also involves 130 air crew members, is assumed to greatly interfere the city's cargo logistics, Lam conceded, yet clarifying such prevention is not targeting specific industry or company, but is primed to prevent importation of cases stringently, while keeping Hong Kong running

BYD COMPANY (01211.HK) announced that the group rolled off the assembly line its first batch of cockpit-absent tractors designated for ports on 11 November in Changsha, signifying a pivotal step of the company towards intelligent truck driving.  The tractor was co-developed by BYD COMPANY and Yunshan Technologies Co., Ltd., with the appearance and core "three batteries" technology designed by BYD COMPANY. Geared with 282kWh lithium iron phosphate battery, the tractor can launch efficient docking with the intelligent operation system at ports.Pre Market News
Investors holding KAISA GROUP (01638.HK)'s USD bonds had not received coupon payments as of 6am yesterday (15 November), starting the clock on the firm's 30-day grace period, Bloomberg citing sources. The bond interest payments were supposedly due on 11 November and 12 November, totaling US$88.4 million.

Hong Kong Government will sour the quarantine requirement on air crew members returning to Hong Kong, who should stay at home for 14 days to prevent importation of Covid cases, as local media reported.
CATHAY PAC AIR (00293.HK) emailed to its staff that the guidelines for medical observation activities of crew members returning to Hong Kong are tightened. Meanwhile, the whole crew is required take the third vaccine jab before 30 April 2022.

In response to compliance requirements for cross-border brokers and according to Chinese law and regulation, KAISA GROUP (01638.HK)'s Kaisa Securities announced the proposed suspension of securities services to clients holding Chinese resident identity cards or Chinese passports. The clients concerned shall withdraw all securities and cash deposited in Kaisa Securities accounts by Friday (19 November) to protect their asset rights and interests.Linda Chen, Vice Chairman and Executive Director of WYNN MACAU (01128.HK), expressed that the occupancy rate of the group's hotels has recovered to about over 50% since the COVID-19 outbreak has stabilized, reported Macao Daily News.  Chen further remarked that the hotel booking rate for the coming weekend is already above 60% at the moment and that the group remains optimistic on the outlook of the upcoming Christmas period.
Bank of England (BoE) Governor Andrew Bailey expressed that he was very uneasy about the inflation outlook and that the current above-target inflation was not the intended outcome of the central bank. Bailey remarked that the BoE's vote to keep the interest rate unchanged this month has been a very close call.

CHINA TELECOM (00728.HK)'s American arm brought an appeal to a U.S. appeals court to stop the U.S. Federal Communications Commission (FCC)'s decision to revoke its operating authorization in the United States, foreign media reported.  China Telecom must inform customers of the decision by 4 December, according to the writ. The Chinese telco will be forced to halt its U.S. operation should it fail to overturn the FCC's decision.

European Central Bank (ECB) President Christine Lagarde expressed that tightening the monetary policy to control the inflation may hamper the economic recovery of the euro zone, and reiterated that the economy is looking very unlikely to be able to meet the requirement for an interest rate hike by next year.  Lagarde contended that the soaring inflation will likely be more severe and last for longer than previously estimated. However, the central bank president still believed that the relevant inflation pressure will begin to fade next year, remarking that tightening the policy at this point will potentially do more harm than good.

The Public Investment Fund (PIF) of Saudi Arabia almost tripled its US stock holdings to US$43.45 billion on a quarterly basis for the third quarter, comprising shares of Alibaba Group Holding Limited (BABA.US), Walmart Inc. (WMT.US), and Pinterest, Inc. (PINS.US)

HSBC HOLDINGS (00005.HK)  announced that it repurchased 2.3712 million shares of the company in the London market on Monday (15th), at a price ranging between GBP4.311 and GBP4.3745, with a volume weighted average price of GBP4.355, involving GBP10.3266 million (about HKD108 million).

People's Bank of China (PBOC) yesterday (15th) announced to initiate a RMB1 trillion medium-term lending (MLF) facility. Financial Times, which is run by PBOC, expressed that, such arrangement marked the third month in which the central bank has been offering the same amount of MLF loans, with the interest rate kept unchanged.
The article illustrated that such arrangement further emphasized the Chinese government's policy on continuously supporting the banks to have reasonably ample liquidity in mid-to-long-term.

China's State Administration for Market Regulation (SAMR) recently released the response to the proposal on preventing internet giants from forming a market monopoly through community group buying operation. The SAMR agreed that relevant departments will have to impose stringent regulation on the competition in community group buying, which is currently lacking clear order.  SAMR further remarked that, as the internet giants venture into the community group buying market, they tend to disrupt the normal development of the supply chain industry and upset the market's pricing order with dumping practice. As a result, such malpractice reduces the employment opportunities of smaller merchants and ultimately affects the social stability, the article opined.

MINSHENG BANK (01988.HK) announced that it has successfully issued the “2021 First Tranche Financial Bonds of China Minsheng Banking Corp., Ltd.”. The bonds with an aggregate amount of RMB30 billion are subject to a fixed interest rate for a term of 3 years and have a coupon rate of 3.02%.  The proceeds from the issuance of the bonds will be used to satisfy the company’s needs of assets and liabilities allocation, enrich the source of funds, optimize the maturity structure of liabilities as well as promote the steady development of business, the announcement added.

AIR CHINA (00753.HK) announced the key operating data for October 2021. Over the period, the number of passengers carried by the airline amounted to 6.488 million, down 23.3% YoY and up 15.2% MoM. The
volume of cargo and mail carried amounted to 104,900 tons, down by 10% YoY but up by 1.9% MoM, the announcement added.

KAISA PROSPER (02168.HK) announced that as the company has not received any financial assistance from its controlling shareholder KAISA GROUP (01638.HK) , the company considers that any liquidity issues faced by KAISA GROUP would not have any material adverse impact on the operations of the company.  In relation to the non-payment of KAISA GROUP, with respect to certain financial products and the cessation of the payment of the 2021 interim dividend, KAISA PROSPER clarified that it is not involved in or a party to the transactions of KAISA GROUP noted above. KAISA PROSPER applied for the resumption of the trading in the shares of the company from Tuesday (16th).  

CITIC SEC (06030.HK) announced the application for the A Share Rights Issue  has been approved by the Issuance Examination Committee of the CSRC.  The Company will issue a separate announcement upon receipt of the  formal approval from the CSRC.

ZA ONLINE (06060.HK)  announced that, under the PRC Accounting Standards for Business Enterprises, the aggregate gross written premiums of the company for the period from January 1, 2021 to October 31, 2021 were approximately RMB17.039 billion, 
representing a 33.9% increase compared to the corresponding period of 2020.

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