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MSCI rebalance on Tuesday.
HSI +132pts (+0.5%) 25,540 HSCEI +38pts (+0.4%) 8,996 T/O HK$136.58bn (+10.9% DoD)
MSCI rebalance on Tuesday
Markets opened flat and trading sideways UK market closed.
CHINA CSI 300 closed -14pt (-0.3%) @ 4,813
Market opened slightly higher but sold down to 4,800 in early trades before rebounding to trade around flat (4,827). But then drifted lower into lunch. PM saw the market sell down to 4,787 before seeing a bounce into the close.
Brokers weak after state media reported regulators have told them to tighten up on non-compliant margin trading activities.
Property names weak after CH Vanke’s week results and news that property loans in tier1 cities remain tight.
Leaders Renewables, Metals, Semi’s, Oil/Mining
Laggards Property, Transport, F&B and Brokers
Watch Swine plays: The Economists has an article that sets out how there have been 11 outbreaks this year to July; twice the number reported last year and wide spread and that the outbreaks aremuch worse than before. WH Group flat today.
Shanghai Composite +6pts (+0.2%) @ 3,528 T/O US$99.554bn +18% DoD
Shenzhen Composite -14pts (-0.1%) @ 14,423 T/O US$135.844bn +17% DoD
ChiNext Composite Index +12pts (+0.4%) @ 3,548
Tuesday pre market we get Manufacturing & Non Manufacturing PMI
Pre market opened @ 25,407 flat vs -29pts ADRs but saw initial selling down to 25,220 before rebounding to 25,532 but then dropped to flat before a rally into lunch. PM tested higher to 25,584 before dropping back to flat and then worked better to close 312pts.
Strength in Energy and Renewables but volume remains light.
Talk that the HK/Mainland border will not be re-opened until March 2022 after the Winter Olympics. -VE for business sentiment.
Internet under pressure as media calls for a halt to ‘bad mouthing’ the economy and potential a regulated credit score system. After market more restrictions on on-line viewing.
Results remain in focus.
EARNINGS due Tuesday include: Beijing Enterprises Environ (154), Melco (200), AVIC (260), Wuling Motors (305), China Travel (308), CogoBuy (400), Karsen Int (496), Lansen Pharma (503), Inspur (596), Sany (631), Genting (678), Comtec Solar (712), China Yurun Food (1068), Milan Station (1150), Sino Biopharm (1177), Huili Resources (1303), China Shineway Pharma (2877), China Evergrande (3333), Legend Holdings Corp (3396),
HONG KONG DATA
HK reported 3 new covid cases; all imported.
SHORT SELLING Monday 19.6% vs 18.4% Friday
Top shorts CLP (2) 51%, Bank Comm (3328) 49%, CK Assets (1113) 44%,HSBC (5) 43%, Country Garden (2007) 41%, Henderson Land (12) 39%, HKEX (388) 38%, Bank of China (3988) 38%, AIA (1299) 36%, Hang Seng Bank (11) 35%, CKI (1038) 35%, CKH Hold (1) 32%, Link REIT (823) 32%, Shenzhou (2313) 32%, Geely (175) 31%, CCB (939) 30%, Techtronic (669) 30%, Hang Lung Ppty (101) 28%, Ali Health (241) 27%, New World Development (17) 27%, HK & China Gas (3) 27%, Sunny Optical (2382) 27%, MTRC (66) 26%, Haidilao (6862) 26%, SinoBioPharm (1177) 25%, Longfor (960) 25%,
RESULTS after market
LI AUTO-W (02015.HK) (LI.US) announced that the total revenues were RMB5.04 billion in the second quarter of 2021, representing an increase of 40.9% QoQ, topping consensus. Loss from operations was RMB536 million, representing an increase of 31.4% QoQ. Net loss was RMB236 million, representing a decrease of 34.6% QoQ. Non-GAAP net loss was RMB65.1 million, compared with RMB177 million net loss in the first quarter of 2021.
CCB (00939.HK) -0.060 (-1.064%) Short selling $325.31M; Ratio 30.103% 's interim net profit stretched 11.4% YoY to RMB153.3 billion. The bank tracked higher net profit growth given lower base last year, according to the management. The management said CCB will optimize its asset and debt structure in 2H21, while expecting the full-year NIIM to resume to a more reasonable level.
BOC HONG KONG (02388.HK) 0.000 (0.000%) Short selling $29.82M; Ratio 17.071% announced the interim results. Net profit was HK$12.576 billion, a decrease of 17.3% year-on-year. EPS equaled HK$1.1895. The interim dividend per share was HK$0.447. Total operating income declined 6.7% annually to HK$35.02 billion.
MEITUAN-W (03690.HK) announced the interim results for the six months ended 30 June 2021. The non-IFRS adjusted net loss amounted to RMB6.109 billion, compared to a net profit of RMB2.502 billion for the corresponding period of previous year, which was better than the forecasts (nine brokers previously forecast MEITUAN-W's non-IFRS adjusted net loss for 1H21 to range between RMB6.629-8.692 billion, as complied by our reporters earlier). Adjusted EBITDA loss was RMB3.623 billion, compared to an EBITDA of RMB2.652 billion in the year-ago period. The loss for the period amounted to RMB8.205 billion, compared to a profit of RMB631 million for the corresponding period of previous year. LPS was RMB1.38. No interim dividend was declared. It pointed out in its interim result that, in April 2021, the State Administration for Market Regulation (the SAMR) commenced an investigation on the Company pursuant to the Anti-Monopoly Law. The investigation is ongoing and the Company is actively cooperating with SAMR. The Company is not able to predict the status or the results of the investigation at this stage, and the Company could be required to make changes to its business practices and/or be subject to a significant amount of fines.
BANK OF CHINA (03988.HK) 0.000 (0.000%) Short selling $163.35M; Ratio 37.853% announced the interim results. Net profit for the period hiked 11.8% YoY to RMB112.813 billion, higher than the estimated range of RMB105.789-108.946 billion forecast by four brokers as complied by our reporters earlier. EPS was RMB0.36. No interim dividend was declared. It delivered a narrower 1H21 NIM than that in the same period last year. The management mentioned at a conference call the persistent downside NIM pressure in 2H21, adding the lender will heighten its medium-to-long term credit ratio by optimizing deposit structure and expanding fund sources at low costs. In this way, BANK OF CHINA anticipated to enhance its NIM level.
ABC (01288.HK) announced the interim results. Net profit stretched 12.4% YoY to RMB122.278 billion, above the estimated range of RMB114.973-116.6 billion forecast by four brokers as complied by our reporters earlier. EPS was RMB0.34. No interim dividend was declared.
President Zhang Qingsong foresaw the NII and net handling fee to keep growing steadily given China's economic rebound, whilst the earnings will also rise sturdily. Meanwhile, the company has not held any bonds of default companies, the President told, adding more than 95% bonds held by the bank are rated above AAA. As such, he believed the potential default risk to be surprisingly low.
CHINA RE(01508.HK) announced interim result ended June 2021. The total income declined 16.8% year on year to RMB82.704 billion. The net profit amounted to RMB4.011 billion, up 62.6% year on year.
EPS was RMB0.09. No dividend was declared.
SHIMAO GROUP (00813.HK) -0.220 (-1.416%) Short selling $29.03M; Ratio 22.587% announced interim result ended June 2021. The net profit amounted to RMB6.283 billion, up 19.3% yearly. EPS was RMB178 cents. An interim dividend of HK70 cents was declared.
AFTER MARKET NEWS
China's National Press and Publication Administration (NPPA) proposed in a notice some measures to prevent minors from online game indulgence in four aspects.
Firstly, all online game companies are only allowed to provide minors with one-hour services between 20:00 and 21:00 on Fridays, Saturdays, Sundays and statutory holidays.
Secondly, all online game users must use real and valid identity information to register or log in game accounts.
Thirdly, the supervision and inspection of the implementation of anti-game-addiction measures should be enhanced.
Lastly, game companies should actively guide the families, schools and other social sectors to take action, and earnestly assume the responsibility of guardianship on minors' game playing.
Responding to China's National Press and Publication Administration (NPPA)'s notice on demanding all online game companies to only offer one-hour services to minors between 8-9 pm on Fridays, Saturdays, Sundays and statutory holidays, TENCENT (00700.HK) expressed that the company will strictly comply with the new requirements and will continue to strengthen minor protection through exploration and application of new technologies and features.
CK ASSET (01113.HK) +0.250 (+0.493%) Short selling $97.08M; Ratio 44.433% announced that Li Ka Shing Foundation acquired a total of 2.08 million shares in CK Asset at the average price of HK$50.8720, HK$50.7916, HK$50.8069 and HK$50.6831 per share on 24 August, 25 August, 26 August and 27 August 2021 respectively. As a result, the deemed interests of Li Ka-shing, Victor T K Li and Li Ka Shing Foundation in CK Asset increased from 45.85% to 45.9%; increased from 45.91% to 45.97%; and increased from 11.13% to 11.19%, respectively.
The Shanghai Municipal Government held a regular meeting on the high-quality auto sector development, saying Shanghai shall play its cards right regarding technology and innovation by fully protecting its industrial chain and supply chain. Shanghai would also play its cards right when it comes to leadership and sector ecosystem.
BYD COMPANY (01211.HK) -1.000 (-0.381%) Short selling $742.57M; Ratio 20.125% 's high-end brands will realize mass production and sales in 1Q23, Cailian Press cited people with the knowledge of the matter. The company targets to deliver 600,000 NEVs this year, and sell 1.5 million units next year, whilst BYD Ocean series of products are expected to roll out in 1H22, the report furthered.
Market touched 7,528 in early trades before selling back down to 7,476 and then worked slowly better through the day. Fortescue Metals were strong post its earnings have doubled its dividend other miners +VE too. Crown Resorts weak reported a net loss as covid 19 forced closures and restricted operations.
Altium -14.3% after releasing full year results and Nuix -10.8%
Business Inventories Q2 +0.2% QoQ vs +2.4% Q1 revised (F/cast was +1.1%)
Company Gross Profits Q2 +7.1% QoQ vs -0.6% Q1 (F/cast was +3.1%)
Nikkei opened higher @ 27,868 but sold off through the morning to 27,657 around 10:40am and then bounced into lunch. PM market opened 27,721 and worked slightly better to close +148pts (+0.5%) @ 27,789
Topix traded in a similar pattern to close +21pts (+1.1%) 1,950
Data Pre market Retail Sales Jul +2.4% YoY vs +0.1% Jun (F/cast was +2%)
Tomorrow we get Unemployment data and Industrial Production
KDCA announced 1,487 new covid cases.
Kospi opened higher will releif from Jackson Hole but sold down through the morning to test 3,133 (Friday’s close) before a bounce to 3,140 and which then became the support level for the afternoon.
Financials lagged on news of Government loan restrictions. NC Soft -1.5% continued weakness.
Construction +VE as oppostion party presidential candidate pushes for more deregulation of the sector. Other leaders were Steel, Ship builders, Refiners and some Chemical names
Kosdaq opened higher (1,031) and traded sideways to close +8pts (+0.8%) @ 1,032
Tuesday pre market we get: Industrial Production, Retail Sales, Manufacturing Prodcution and Construction Output
Market opened higher and traded around 17,300 for most of the day before seeing a rally at the end to close at the day high. +187pts (+1.1%) @ 17,397
Data out during trading Consumer Confidence Sept 75.43 vs 76.92 Aug
T/O was US$9.69bn vs US$11.28bn Friday
CECC reported 8 new covid cases (5 imported).
Northbound RMB 67,307m Sell 33,710m vs 33,597m Buy
Southbound HK$ 16,449m Sell 9,106m vs 7,343m Buy
Northbound RMB 83,770m Sell 40,885m vs 42,885m Buy
Southbound HK$ 17,084m Sell 9,746m vs 7,338m Buy
PING AN (02318.HK) -1.700 (-2.636%) Short selling $283.34M; Ratio 18.129% closed at $62.8, down 2.6%
MEITUAN (03690.HK) +3.400 (+1.511%) Short selling $411.82M; Ratio 9.124% closed at $228.4, up 1.5%
BABA (09988.HK) +2.300 (+1.475%) Short selling $1.23B; Ratio 23.685% closed at $158.2, up 1.5%
AIA (01299.HK) -1.350 (-1.417%) Short selling $575.17M; Ratio 35.771% closed at $93.9, down 1.4%
CCB (00939.HK) -0.060 (-1.064%) Short selling $325.31M; Ratio 30.103% closed at $5.58, down 1.1%
TENCENT (00700.HK) -0.600 (-0.129%) Short selling $1.24B; Ratio 14.575% closed at $465.8, down 0.1%
HSI & HSCEI Constituents on Move:
HANSOH PHARMA (03692.HK) +2.150 (+11.316%) Short selling $41.06M; Ratio 20.911% closed at $21.15, up 11.3%
XINYI SOLAR (00968.HK) +1.620 (+9.386%) Short selling $246.96M; Ratio 14.247% closed at $18.88, up 9.4%
KUAISHOU-W (01024.HK) +6.350 (+8.887%) Short selling $454.01M; Ratio 20.826% closed at $77.8, up 8.9%
CITIC (00267.HK) +0.590 (+6.813%) Short selling $77.96M; Ratio 20.532% closed at $9.25, up 6.8%
ALI HEALTH (00241.HK) +0.640 (+5.674%) Short selling $111.04M; Ratio 27.223% closed at $11.92, up 5.7%
SINOPEC CORP (00386.HK) +0.170 (+4.816%) Short selling $104.67M; Ratio 12.680% closed at $3.7, up 4.8%
GEELY AUTO (00175.HK) +1.100 (+4.264%) Short selling $689.00M; Ratio 30.570% closed at $26.9, up 4.3%
SANDS CHINA LTD (01928.HK) +1.000 (+4.132%) Short selling $75.45M; Ratio 20.226% closed at $25.2, up 4.1%
PETROCHINA (00857.HK) +0.130 (+4.101%) Short selling $123.99M; Ratio 21.540% closed at $3.3, up 4.1%
GALAXY ENT (00027.HK) +1.950 (+4.037%) Short selling $162.69M; Ratio 20.894% closed at $50.25, up 4%
CM BANK (03968.HK) -2.450 (-3.704%) Short selling $697.20M; Ratio 38.922% closed at $63.7, down 3.7%
ENN ENERGY (02688.HK) +5.300 (+3.691%) Short selling $104.04M; Ratio 25.133% closed at $148.9, up 3.7%
WUXI BIO (02269.HK) +3.800 (+3.276%) Short selling $237.84M; Ratio 12.715% closed at $119.8, up 3.3%
JD HEALTH (06618.HK) +2.150 (+3.071%) Short selling $143.16M; Ratio 14.277% closed at $72.15, up 3.1%
LONGFOR (00960.HK) -1.100 (-3.043%) Short selling $76.74M; Ratio 24.997% closed at $35.05, down 3%
HSMI & HSSI Constituents on Move:
TIANNENG POWER (00819.HK) -3.060 (-22.110%) Short selling $62.67M; Ratio 13.618% closed at $10.78, down 22.1%
CHINA LONGYUAN (00916.HK) +2.100 (+14.831%) Short selling $20.18M; Ratio 3.205% closed at $16.26, up 14.8%, hitting new high
ZHOU HEI YA (01458.HK) +0.780 (+10.759%) Short selling $83.63M; Ratio 32.690% closed at $8.03, up 10.8%
CGN NEW ENERGY (01811.HK) +0.440 (+10.353%) Short selling $4.92M; Ratio 4.165% closed at $4.69, up 10.4%, hitting new high
CHALCO (02600.HK) +0.270 (+5.192%) Short selling $70.01M; Ratio 11.276% closed at $5.47, up 5.2%, hitting new high
CHINA COAL (01898.HK) +0.230 (+4.554%) Short selling $16.47M; Ratio 7.225% closed at $5.28, up 4.6%, hitting new high
BOSIDENG (03998.HK) +0.230 (+3.795%) Short selling $34.00M; Ratio 13.467% closed at $6.29, up 3.8%, hitting new high
RESULTS at lunchtime
KINGBOARD HLDG(00148.HK) announced interim result ended June 2021. The net profit amounted to HK$5.062 billion, up 377.9% YoY.
EPS was HK$4.573. An interim dividend of HK$0.56 was declared, against a dividend of HK$0.28 in the year-ago period.
KB LAMINATES(01888.HK) announced interim result ended June 2021. The net profit amounted to HK$3.357 billion, up 358% YoY. EPS was HK$1.076. An interim dividend of HK30 cents was declared.
CHINA MER PORT(00144.HK) announced interim result ended June 2021. The net profit amounted to HK$4.711 billion, up 204.7% YoY.
EPS was HK128.67 cents. An interim dividend of HK22 cents was declared, against HK18 cents dividend in the year-ago period
NISSIN FOODS(01475.HK) announced interim result ended June 2021. The revenue rose 6.8% year on year to HK$1.854 billion. The net profit amounted to HK$171 million, down 4.2% year on year. EPS was HK15.94 cents. No dividend was declared. It did announce that the company is planning to buy back shares in the open market not exceeding 107 million shares, representing 10% of the total number of issued shares as at 4 June 2021. The company added that the current financial position of the company is solid and healthy and the proposed share buy-back is to be funded by internal resources of the company, with a maximum aggregate amount of HK$120 million.
CHINACOMSERVICE(00552.HK) announced interim result ended June 2021. The revenue rose 19.1% year on year to RMB64.099 billion. The net profit amounted to RMB1.811 billion, up 14.1% year on year.
EPS was RMB0.262. No dividend was declared. It announced it has succeeded in the first step, that is, the introduction of State Grid Information & Telecommunication as a strategic shareholder, said the the company's President Huang Xiaoqing at the result conference call. For the next step, CHINACOMSERVICE plans to introduce strategic investment from bigger SOEs, while weighing up investment from private companies as well, but stressed that they will seek SOE investment before private's.
Veteran international investor Mark Mobius expressed during an interview with Bloomberg News that the global currencies are forecast to see massive devaluation in the coming few years as all central banks around the world have been rolling out unprecedented QE programs to combat the COVID-19 pandemic. Mobius recommended the investors to spare 10% of their investment portfolio on physical gold.
CHINA MER PORT (00144.HK)'s chairman Deng Renjie expressed that, due to the COVID-19 pandemic, ports' capability was somewhat affected which posed challenges to the company's business. The company has, however, endeavored to ensure the quality and efficiency of its services. Deng remarked that the growth of port production is expected to narrow under a high base, as the production has already returned to a normal level in 2H20. Deng estimated the full-year container volume to track mid-high single-digit growth.
BABA-SW (09988.HK) sacked about ten staffers for leaking an employee’s account that had made sexual assault allegations against a former manager, Bloomberg cited people familiar with the matter. The tech behemoth announced internally last week that it laid off those staff for sharing a personal account posted on an internal forum by a colleague surnamed Zhou, who accused a former manager of sexual assault. Three other employees were also denounced for dropping improper comments on a public forum.
Tmall Global has officially put its smart multi-warehouse network into operation, which will arrange cross-border products to be placed in the warehouse nearest to customers in advance, reported Chinese media. The report added that, with the new smart logistics network, the next day-arrival rate for products within the designated areas can be increased by as high as 90%.
DPU chip developer Nebula Matrix announced to have completed a Series A round of financing worth few hundreds millions of RMB which was solely-invested by MEITUAN-W (03690.HK)
CHINA YOUZAN (08083.HK) announced that its non-wholly owned subsidiary Youzan Technology has re-filed an application with the Stock Exchange for the listing of Youzan Technology shares on the
main board of the Stock Exchange by way of an offering of new shares, instead of by way of introduction as proposed previously.
The Australian government is mulling over new rules to tighten regulation of digital wallet services by Apple Inc, Google and WeChat. Canberra had earlier engaged institutions to see if the payment system had kept pace with technological advancement and consumer demand changes.
The Southbound Trading of Bond Connect is hopefully to be switched on before the Chinese National Day this year, Hong Kong Economic Journal cited market sources. At the initial stage, the investable bonds mainly cover HKD and RMB bonds entrusted by Central Moneymarkets Unit (CMU) of Hong Kong Monetary Authority (HKMA). Based on the technical issues of cross-border settlement arrangements, the initial stage may not include USD bonds. In response, HKMA spokesman stated that the authority has been in contact with the mainland authorities to step up preparatory work and strive to initiate the Southbound Trading of Bond Connect as soon as possible, and will announce the details in due course.
The New Guangdong-Macao boundary crossing point, known as Qingmao Checkpoint, will be open to the public from 3pm on 8 September 2021, according to an approval granted by the State Council, and based on discussion between the Guangdong Government and the Macao Special Administrative Region Government, announced Macao Government Information Bureau.
KUAISHOU-W (01024.HK) 's e-commerce platform announced to rectify marketing and sales behaviour related to faux gold accessories. The company expressed that a vast amount of faux gold products bearing gold-resembling appearance have emerged on the platform, adding in order to protect the users from being misguided and to maintain the market order, marketing and sales of said products will be regulated. The e-commerce platform designated that sellers must specify the material with which specific product is made on the product details page.
CHINA VANKE (02202.HK) CEO Zhu Jiusheng revealed that the company has made contacts and exploration with EVERGRANDE (03333.HK) in the recent months, yet they have not nailed any substantive cooperation. Prior to this, EVERGRANDE reportedly intended to sell EVERG SERVICES (06666.HK) to a CHINA VANKE-led company.
iPhone 13 is forecast to be potentially equipped with the capability to support LEO (low earth orbit) satellite communications, which would enable users to make calls and send messages even when they are out of 4G/5G coverage zones, stated Ming-Chi Kuo, an analyst at TF Int. Kuo added that such prediction is based on the fact that Apple (AAPL.US) has been holding an favourable view on the development of satellite communications and teams have been set up within the tech giant focusing specifically on the R&D of relevant technologies and applications for a certain period of time.
The debt-strapped EVERGRANDE (03333.HK) +0.020 (+0.458%) Short selling $6.89M; Ratio 9.111% will not hold a press conference following its interim result release on Tuesday (31 August), without providing a reason, reported Reuters. The Chinese authority had earlier requested Guangdong Provincial Government to handle EVERGRANDE's debt issue through marketization means, Chinese media REDD reported.
GEELY AUTO (00175.HK) Short selling Ratio 24.750% 's Zeekr declared the launch of its energy supplement brand, Zeekr Power. The new brand aims to create energy supplement ecosystem and experience on the household, city and service fronts, thus providing users with all-round energy solutions.
BABA-SW (09988.HK)'s new retail platform Hema initiated the project "Hema fresh food industry base" in April last year, which is scheduled to be finished by the end of this month and could be put into operation by 2022. Operating in its full production capacity, the new industry base is projected to generate an annual operating revenue reaching RMB10 billion.
PRE MARKET NEWS
Trading in the shares of CHINA ZHONGWANG (01333.HK) was suspended this morning (30 August) without revealing the reasons.
The global EV sales over 1H amounted to 2.6 million units, up 160% YoY, outperforming the overall vehicle sales, mainly on the back of the easing lockdown measures in various markets, according to a report published by Canalys. The report remarked that the strong demand for EV continued to persist over 2021 with China and Europe emerged as the two leading markets. 1.1 million units of EVs were sold in China over 1H while Europe's EV sales for the period reached 1 million units. The two markets accounted for a combined 87% of the worldwide EV sales.
BABA-SW (09988.HK)'s cloud computing service platform Ali Cloud announced that in support of the government's policy to lighten the burdens of the students, it will introduce after-school service for primary and secondary school students as well as the sector's first digitalized after-school service platform, which will satisfy the policy requirement and resolve practicality concerns at the same time.
People's Daily issued a commentary, suggesting credibility should become the basic requirement for e-commerce industry, and viewing only further regulation and specification of responsibility among "people, goods and platforms" could propel the healthy development of e-commerce sector. The Chinese state-run newspaper further proposed that live-streamers should not be a natural person, legal person or other organization who have made recommendations in false advertisements, or proved that they have been administratively punished in less than three years.
58 Freight, the operator of freight platforms GOGOX and Kuaigou Taxi, lodged a listing application to the Stock Exchange, with the joint sponsors including CICC, UBS, BOCOMI and ABCI. Earlier on, wire reported that the company aims to lure US$400-500 million. The preliminary prospectus showed that 58.com, the major shareholder, holds approximately 51.2% of 58 Freight's pre-IPO equity, whilst BABA-SW (09988.HK)'s Taobao China, Cainiao and investment fund AHKEF hold approximately 15.99% of the equity.
ESPN under Disney (DIS.US) is exploring the possibility of licensing its brand to major sports-betting companies for at least USD3 billion, reported The Wall Street Journal, citing people familiar with the matter.
The sources added that ESPN is currently in talks with large-scaled sports-betting companies such as Caesars Entertainment (CZR.US) and DraftKings (DKNG.US).
The U.S. Commerce Department defended its decision to approve auto chip supply to Huawei, stressing it had not eased or amended the restriction policy on China put in place during Trump's presidency, reported foreign media.
STANCHART (02888.HK) announced that it had repurchased 1.3112 million shares in the London market last Friday (27th), at a weighted average price of GBX456.5819 per share, involving GBP5.9867 million.
IDREAMSKY (01119.HK) -0.060 (-1.202%) Short selling $5.64M; Ratio 26.208% announced that the Company and Tencent Computer entered into an exclusive agency agreement under the Game Cooperation Framework Agreement for 2021, based on which the Company engages TENCENT (00700.HK)s subsidiary Tencent Computer as the exclusive partner in Mainland China for the operation of CALABIYRU, which is a tactical shooting game, and authorizes Tencent Computer to exclusively release, operate and promote the mobile terminal version and computer client version of the Licensed Product according to the Exclusive Agency Agreement.
The entire bond market "ecosystem", which consists of bond issue, trading, clearance, stock exchange listing, custodian, taxation and credit rating services, will have to be reviewed, wrote Financial Secretary Paul Chan in his blog. In order to expedite Hong Kong's bond market buildout, the Steering Committee on Bond Market Development in Hong Kong headed by Chan had started working last week.
Secretary for Labour and Welfare Law Chi-kwong remarked that, in order to further strengthen the retirement protection for the general public, the policy which allows employers to use mandatory contributions under the Mandatory Provident Fund (MPF) System to “offset” severance payment (SP) and long service payment (LSP) has to be abolished. Additional efforts should likewise be made on reducing the MPF management costs and making MPF contributions on behalf of low-income employees, Law added.
Upon initiation, Chinese State Councilor and Foreign Minister Wang Yi spoke with U.S. Secretary of State Antony Blinken on phone, reported Xinhua News Agency. Regarding Sino-US ties, Wang said dialogue was better than confrontation and cooperation was better than conflict, citing the two countries' recent communication on the Afghan situation, climate change and other issues.
State Administration for Market Regulation (SAMR) announced in the "medical cosmetology law enforcement guidance" that the medical beauty advertisements which induce "appearance anxiety" will be targeted for a major crackdown, so as to strengthen the regulation on medical beauty advertisements and protect the legitimate rights of the consumers.
Beijing Banking and Insurance Regulatory Commission issued a notice recently, demanding the insurance companies in Beijing to refrain from excessive marketing and positing advertisements with loaded questions. The commission expressed that the notice was issued in the spirit of regulating the online insurance marketing activities in the Beijing area, so as to protect the legitimate rights of the consumers.
KUAISHOU-W (01024.HK) has taken targeted action since last Saturday (28th) to punish and rectify any We-Media accounts that published financial information rigging the stock market and sparking vigorous social response, so as to implement the government's requirement.
WeChat announced on its public account that it will rectify not-on-par financial news publication online with immediate effect till 26 October 2021 pursuant to the action requirement of China's Office of the Central Cyberspace Affairs Commission, in a bid to cleanse the internet environment. WeChat said it will uphold the correct value in posting financial news, and will suspend or even shut down any we-media accounts that are stock market manipulators arousing vigorous social reaction.
China's CAC has recently published a notice on further rectification of the "fan circle" chaos, requiring the removal of all rankings involving individual celebrities, artists or idol groups, according to Sina Weibo's official account. Following Weibo's action, Douyin and KUAISHOU-W (01024.HK) threw out their celebrity rankings as well.
CHINA VANKE (02202.HK) -1.200 (-5.381%) Short selling $42.83M; Ratio 18.799% announced interim result ended June 2021. The revenue rose 14.2% YoY to RMB167.111 billion. The net profit amounted to RMB11.047 billion, down 11.7%. EPS was RMB0.95. No dividend was declared.
CHINA HUARONG (02799.HK) announced annual result ended December 2020. The annual result swung into loss of RMB102.903 billion, against a profit of RMB1.424 billion. LPS was RMB2.63. No dividend was declared. It also announced interim result ended June 2021. The net profit amounted to RMB158 million, down 24.6% YoY. EPS was RMB0.4 fen. No dividend was declared.
C TRANSMISSION (00658.HK) announced interim result ended June 2021. The net profit amounted to RMB723 million, up 139% YoY.
EPS was RMB0.442. No dividend was declared.
SINOPEC CORP (00386.HK) announced interim result ended June 2021. The operating income rose 22.1% year on year to RMB1.261603 trillion. The interim result swung into profit of RMB39.954 billion, against a loss of RMB21.844 billion. EPS was RMB0.33. An interim dividend of RMB0.16 was declared against a dividend of RMB0.07 in the corresponding period of the previous year.
BEIGENE (06160.HK) +2.800 (+1.609%) Short selling $33.45M; Ratio 32.739% announced the interim results for the six months ended 30 June 2021. The revenue for the period rocketed 542% YoY to USD756 million. The interim loss narrowed to USD414 million from the loss of USD699 million for the corresponding period of previous year. LPS was US35 cents. No interim dividend was declared.
ANGANG STEEL (00347.HK) announced the interim results for the six months ended 30 June 2021, in accordance with the Accounting Standards for Business Enterprises in the PRC. The net profit for the period leaped 937% to RMB5.183 billion. EPS was RMB55.1 fen. No interim dividend was declared.
SINOTRUK (03808.HK) announced the interim results for the six months ended 30 June 2021. The revenue for the period leaped 52.3% YoY to RMB65.169 billion. Net profit amounted to RMB3.623 billion, up 23.2%. EPS was RMB1.31. No interim dividend was declared.
GENCH EDU (01525.HK) announced the interim results for the six months ended 30 June 2021. Revenue for the period rose 24.6% YoY to RMB348 million. Net profit amounted to RMB112 million, up 7.6%. EPS was RMB27 fen. An interim dividend of HK10 cents was declared.
CMSC (06099.HK) announced the interim results for the six months ended 30 June 2021. Total revenue and other income amounted to RMB19.267 billion, up 27.6% YoY. The net profit for the period hiked 32.6% to RMB5.745 billion. EPS was RMB61 fen. No interim dividend was declared.