May 6 HK/CHINA WRAP HSI closed higher on increased volumes China was weak


06 May

HSI +220pts (+0.8%) 28,638 HSCEI +35pts (+0.3%) 10,756  T/O HK$161.0.bn (+59.2% DoD)

EUROPE 
Markets to opened slightly higher with mixed pre market data. DAX & CAC rallied initially but then reversed currently trading in the red around flat. FTSE opened higher and trading sideways in the green with some caution ahead of the BoE rate decision and local government elections. Tech leading the declines with most sectors in the red but F&B +VE
Earnings in focus with Air France-KLM, ING and UniCredit among the blue chip companies reporting.
Soc Gen +VE on reporting a “record” quarter for its trading division, beating expectations for Q1 2021. Net income of 814 million euros ($977 million).
AB InBev beat profit expectations; core earnings +14.2% also announced that CEO Carlos Brito will step down in July to be replaced by North American boss Michel Doukeris.
Volkswagen weak despite raising its margin target after seeing a surge in demand for higher-priced vehicles in Q1.
SES strong after a strong earnings report which saw the company announce a 100 million euro share buyback program.
Shop Apotheke weak after disappointing earnings.
Telecom Italia weak after an Italian media report suggested that the company’s single network plan had been parked.
Data
EUROZONE
Construction PMI Apr 50.1 vs 50.1 Mar (F/cast was 52)
Retail Sales Mar +2.7% MoM vs +4.2% Feb revised (F/cast was +1%)
Retail Sales Mar +12% YoY vs -1.5% Feb (F/cast was +8.3%)
GERMANY
Factory Orders Mar +3% MoM vs +1.4 % Feb revised (F/cast was +1.5%)
Construction PMI Apr 46.2 vs 47.5 Mar (F/cast was 52.5)
FRANCE
Construction PMI Apr 49.8 vs 49.7 Mar (F/cast was 51.9)
Retail Sales Mar -1% MoM vs +1.6% Feb revised (F/cast was +0.6%)
Retail Sales Mar +21.3% YoY vs +3.9% Feb revised (F/cast was +8.5%)
UK
Services PMI Apr 61.0 vs 56.3 Mar (F/cast was 60.1)
Composite PMI Apr 60.7 vs 56.4 Mar (F/cast was 60)
BoE Interest Rate Decision no change and QE no change; expects FY 21 growth of 7.25% ahead of forecasts after covid inoculations +VE
US Futures 
Opened flat in Asian time Dow -21pts, S&P and NDX -0.1%. But now Dow +55pts, S&P +0.2% and NDX +0.3%.
Pre market PayPal strong after the company posted better-than-expected earnings. Etsy -11% despite beating estimates; warned sales will slow as the pandemic boost wanes. Gap higher again.
Expect weakness in drug makers but positive moves in Sunrun and Zynga after they beat estimates after market Wednesday
Data due Challenger Job Cuts, Unit Labour Costs, Nonfarm Productivity, Initial Claims, 4 week Average Claims, Continuing Claims, EIA Natural Gas Report,
Earnings Regeneron, ViacomCBS, Kellogg, Moderna, Murphy Oil, Beyond Meat, Shake Shack, Square, Roku, Axon, Cushman and Wakefield, Tapestry, Neilsen, AIG, Anheuser-Busch, EOG Resources, Consolidated Edison, DropBox, Expedia, Roku, Peloton Interactive, Datadog, Cardinal Health, Ambac Financial

CHINA CSI 300 closed -62pts (-1.2%) 5,061
Market re-opened lower and dipped initially before rallying to test Thursday’s closing level but failed to hold and sold down to 5,040 level ahead of lunch before a small uptick into lunch. PM market ticked slightly higher and then traded sideways in a tight range.
Drug makers weak on news the US and UK were backing a WHO proposal to waiver IP rights for covid vaccines.
Leaders were Steel, coal, agriculture and non-ferrous metals
Laggards were tourism, biovaccine and medical beauty

Shanghai Composite -5pts (-0.2%) @ 3441 T/O Rmb 400.5b
Shenzhen Composite -227pts (-1.6%) @ 14,210 T/O Rmb 475.0b
ChiNext Index -76pts (-2.5%) @ 3,014 T/O Rmb 159.0b

CHINA DATA No data
HSI Pre market opened @ 28,648 +230pts vs +99pts ADR’s
Tested higher to 28,755 level in the first 30 minutes before reversing and selling down to test 28,400 in the next hour. Tested that level for a while before a small bounce into lunch. PM ticked higher initially and then worked slightly higher through the afternoon to 28,600 around 3pm and then traded sideways around that level into the close. Market then ticked up 46pts in the closing auction.

HONG KONG DATA 
Provisional figures on restaurant receipts and purchases today (May 6). The value of total receipts Q1 $19.7 billion, -8.8% YoY.
The value of total purchases by restaurants -8.0% to $6.4 billion.
After netting out the effect of price changes over the same period, the provisional estimate of the volume of total restaurant receipts -8.7% YoY

The Centre for Health Protection (CHP) reported 2 new covid cases (vs 4 Tuesday) both imported.

Short Selling Thursday 13.1% vs 15.2% Wednesday 
Top Shorts
Ali Health (241) 42%, Wharf REIC (1997) 40%, Country Garden (2007) 37%, Bank Of China (3988) 31%, Bud Apac (1876) 31% (after reporting), MTRC (66) 30%, BOCOM (3328) 29%, Hengan (1044) 29%, NWD (17) 29%, CSPC Pharma (1093) 28%, Sunny Optical (2382) 27%, Power Assets (6) 27%, BABA (9988) 25% (reports next week).

AFTER MARKET NEWS 
HUA MEDICINE-B (02552.HK) announced that it granted 1 million share options to an employee of the Company pursuant to the Company’s share option scheme at an exercise price of Share Options granted of HK$4.886 per Share. The validity period of the Share Options was ten years from the date of grant.
The Government will announce as soon as tomorrow that the quarantine period for citizens could be reduced to seven days, providing that 14 days have passed after their second Covid vaccine doses, local media citing sources.
According to BABA-SW (09988.HK)'s Fliggy, the ticket booking volume in China's scenic areas grew more than 420% yearly, and hotel reservation load up over 200%, during the "May 1" holiday 2021.  Meanwhile, Generation Z (post 95's) has turned out a major consumption power in tourism during the holiday.
Chinese regulators had asked Ant Group to delink its microlending  business from the Alipay payment platform, which proved Beijing's concern about mitigating financial system and social stability risks posted by the online microlending industry, opined Fitch Ratings.  Meanwhile, the move indicated the Chinese government's efforts in rectifying anti-competitive acts in the third-party payment market.
DONGFENG GROUP (00489.HK) announced that April vehicle production volume was 257,900  +2.5% YoY and sales volume 268,500 units +9.9% yearly.
DEXIN CHINA (02019.HK) announced that for the one month ended 30 April 2021, the Group achieved a contracted sales amount of approximately RMB6.8 billion, up 13.7% yearly.
CHINA OVERSEAS (00688.HK) announced that for April, the contracted property sales of the China Overseas Series of Companies amounted to approximately RMB31.726 billion, +13.5% YoY; and the corresponding GFA sold was approximately 1.485 million square meters, remained flat year-on-year.
CH OVS G OCEANS (00081.HK)  announced that the property contracted sales for April 2021 amounted to RMB6.16 billion, up 55.9% yearly.
KWG GROUP (01813.HK) announced that for April, the pre-sales value amounted to RMB12.925 billion, representing a year-on-year increase of 98.5%. The pre-sales area amounted to 668,000 square meters, representing a year-on-year increase of 59%.
R&F PROPERTIES (02777.HK) announced that the total contracted sales for the month of April 2021 amounted to approximately RMB9.7 billion, up 5.2% yearly.
SUNSHINE 100 (02608.HK) announced that, in April, the Group achieved contracted sales of RMB367 million, down 12.41% YoY.  The corresponding contracted sales area was 29,100 sq.m., down 29.24%.
CKH HOLDINGS (00001.HK)'s CK Hutchison Group Telecom Holdings announced that revenue for the Q1 ended 31 March 2021 reached EUR2.461 billion, -2% YoY and down 8% QoQ.  Total margin amounted to EUR1.705 billion, -3% YoY and -4% QoQ.
GIORDANO INT'L (00709.HK) issued a positive profit alert of an expected profit attributable to Shareholders for the six months ending June 30, 2021, representing a turnaround from a loss attributable to Shareholders of approximately HK$175 million for the six months ended June 30, 2020.
Centa Valuation Index (Major Banks) (CVI) last stood at 81.77 this week, down 4.7 pts weekly. The index failed to surmount 90 and, yet, stood firmly aloft 80, indicating bankers' active and rational stance on mortgage business, said the research department of Centaline Property.

MARKET COMMENT 
*PETROCHEMS STRONG  on demand hopes despite Oil falling overnight after an unexpected gain in gasoline stockpiles offset the biggest US crude inventory drop since January, at almost 8m barrels. CNOOC (883 HK +2.4%) PETROCHINA  (857 HK +2%) CH OILFIELD (2883 HK +2.4%) ANTON OIL(3337 HK +6%).
*TECH/COMPONENTS WEAK on talk of US plans to step up on chip production although implementation will take years. HUA HONG (1347 HK -0.4%) SMIC (981 HK -0.6%) FIT HON TENG (6088 HK -4.2%).
TRULY (732 HK -2.5%) reported April turnover +6.4% YoY to HK$1,942m. XIAOMI (1810 HK+3.2%) after the company said in 1Q, Xiaomi surpassed APPLE in the market share of smartphones in Europe, reaching second place for the first time, and smartphone shipments in Western Europe.
*HK BANKS FIRM traded higher on speculation that interest rates will increase sooner than previously thought. HSBC (5 HK +1.5%) will pay American private equity firm Cerberus more than EUR1b (HK$9.33b) to take its retail banking network in France off its hands.
STAN CHART (2888 HK +2.1%) HANG SENG (11 HK +1.9%) BEA (23 HK +1.6%). CHONG HING BANK (1111 HK) +30% before halting trading this morning, pending announcement.
*SPORTWEAR MAKERS STRONG ADIDAS has asked for first round bids for its Reebok brand to be submitted next week, Reuters reported. It's expecting offers from ANTA SPORTS (2020 HK +3.9%) and LI NING (2331 HK +6.5%). DONGXIANG (3818 HK+3%) 361 DEGREES (1361 HK+2.9%).   YUE YUEN (551 HK +0.4%)
*BREWERS STRONG after BUD APAC (1876 HK +4.9%) reported Q1 net income at $233m vs loss $41.0m prior and beats estimate $223.2m. Revenue $1.63b, +70% YoY. Stock had seen significant shorting recently.CR BEER (291 HK +2.4%) TSINGTAO (168 HK +3.4%).
*PHARMA VERY WEAK  on the news that the US and UK would support the temporary waiver of intellectual property provisions to allow developing nations to produce Covid-19 vaccines created by pharmaceutical companies, citing an urgent need to stem the pandemic, overriding objections from the pharmaceutical industry.
ALSO WHO experts have voiced "very low confidence" in data provided by Chinese state-owned drugmaker SINOPHARM (1099 HK -6.8%) on its COVID-19 vaccine regarding the risk of serious side-effects in some patients (over 60’s and special cases), but overall confidence in its ability to prevent the disease. CANSINO (6185 HK -15%) FOSUN (2196 HK -14%) KINTOR (9939 HK -8.4%) SINO BIOPHARM (1177 HK -5.8%).
*RESTAURANT CHAINS WEAK after the Labor Day holidays. HAIDILAO (6862 HK -8%) on a broker's report that the overall table turnover rate of its restaurants in April this year was less than 3 times, returning to the level of about 70% in the same period in 2019. During the May 1st long holiday from May 1 to 5, Haidilao’s overall table turnover rate was about 4.5 to 5 times, returning to the level of about 70% to 75% in the same period in 2019, slightly lower than the 70% in the first quarter. XIABXIABU (520 HK -1.5%) YIHAI INTL (1579 HK -0.3%).

Regional Markets 
AUSTRALIA 
ASX200 opened higher but sold down after the first five minutes, found support around the 7,050 level and then saw small rebound before trading sideways around the 7,060 level until about 2.30pm when tit dipped 7,040 level before working back to close -34pts (-0.5%) @ 7,062 Market weaker on news China was closing the China-Australia Strategic Economic Dialogue. Also increasd social distancing in Sydney after a new covid case. NAB earnings disappointed, Nearmap -23%  on news of legal action against it by rival Eagle View.  Miners closed higher.
JAPAN
Nikkei re-opened much higher and worked higher through the morning to test 29,400 but failed to hold that level.  Opened lower the PM session and traded around the 29,300 for most of the afternoon with an uptick at the end to close +519pts (+1.8%) @ 29,331
Topix traded in a similar pattern testing towards 1,940 but then trending lower to 1,924 around 2:25pm before a slight uptick into the close +29pts (+1.5%) @ 1,927
After market Tokyo will seek to extend its state of emergency until May 31 in a bid to curb coronavirus widespread, Governor Yuriko Koike said. Such a move arouses concern about the Japan's capital ability to host the Olympics as scheduled.
Nintendo announced that operating income reached JPY119.5 billion during the quarter ended March 2021, beating the consensus, after home-entertainment and "Monster Hunter Rise" had propped up demands of the game console. It guided FY21 operating income to hit JPY500 billion.
S KOREA  
Investors still concern about the inflation threat; which put Tech stocks under pressure
Kospi opened lower but worked higher resistance at 3,175 level then trended lower to 3,155 and traded sideways for an hour before working higher hitting resistance around 2.45pm at 3,172 which it tested a few times going into the close to end +31pts @ 3,178
Kosdaq opened lower and tested down to 960 level then rallied to 972 before trending lower to 964 level around 12.25pm and tested there a couple of times over the next hour before working better to close +3pts (+0.3%) @ 970
Data Pre Market
Foreign Exchange Reserves $452.31b vs 446.13b(F/cast was 450b)
Also reported new covid cases dropped to 574 vs 676 Wednesday
TAIWAN 
Opened higher and worked up to 17,090 level in the first hour but then reversed and sold down to 16,800 level bounced slightly before testing 16,820 and then worked higher to 16,920 before easing back to 16,880 in choppy trading. Then saw a spike to close +151pts (+0.9%) @ 16,994I expect government funds still trying to support/calm the market.
Data out after market
Wholesale Prices Apr +9.62% YoY vs +4.36% Mar (F/cast was +8.4%)
Inflation Rate Apr +0.2% MoM vs +0.33% Mar (F/cast was +0.2%)
Inflation Rate Apr +2.09% YoY vs +1.24% Mar (F/cast was +1.8%)

CONNECT FLOWS 
Shanghai
Northbound Rmb 64,114m Sell 31,766m vs 32,349m Buy
Southbound HK$ 22,405m Sell 11,909m vs 10,496m Buy
Shenzhen
Northbound Rmb 68,481m Sell 34,440m vs 34,041m Buy
Southbound HK$ 24,814m Sell 11,888m vs 12,925m Buy

Active Heavyweights
AIA (01299.HK) +2.2%
BABA (09988.HK) +0.7%
PING AN (02318.HK) -0.5%
CCB (00939.HK) +0.5%
MEITUAN (03690.HK) -0.4%
HKEX (00388.HK) -0.4%
TENCENT (00700.HK) unchanged

HSI & HSCEI Constituents on Move:
HAIDILAO (06862.HK) - 7.4%
SINO BIOPHARM (01177.HK) -5.8%
BUD APAC (01876.HK) +4.9%
SHENZHOU INTL (02313.HK) +4.7%
ANTA SPORTS (02020.HK) +3.9%
JD HEALTH (06618.HK) -3.6%
XIAOMI (01810.HK) +3.2%
TECHTRONIC IND (00669.HK) +3.2%
HANG SENG BANK (00011.HK) +1.9%, hitting new high
CKI HOLDINGS (01038.HK) unchanged, hitting new high

HSMI & HSSI Constituents on Move:
CANSINOBIO (06185.HK) -15%
FOSUN PHARMA (02196.HK) -14.1%
XTEP INT'L (01368.HK) +14%, hitting new high
HOPE EDU (01765.HK) -11.8%
SCHOLAR EDU (01769.HK) -10.6%
CHINA COAL (01898.HK) +6.2%, hitting new high
COSCO SHIP PORT (01199.HK) +5%, hitting new high

MARKET HOURS NEWS.
Nanchong Geely New Energy Commercial Vehicle Development Co., Ltd. was established with a registered capital of RMB10 million, reported Chinese media. The company is wholly-owned by Nanchong Geely Commercial Vehicle Research Institute Co., Ltd., with Li Shufu as the ultimate beneficiary.
New World First Bus (NWFB) and Citybus announced that passengers can enjoy new travelling experience with more payment options on bus as payment by QR code on NWFB and Citybus will be extended to the entire fleet of more than 300 bus routes from 2:30 am on Sunday, 9 May. Adult fares are pre-set on the new e-payment system and there is a fare concession button for children and the elderly.
The Government accords high value to fintech development and will nudge the industry development by externally promoting the edge of the city, brushing up the scrutiny regime, optimizing the infrastructure and nurturing talents, said Chief Executive Carrie Lam. At this moment, over 600 fintech firms have set foot in Hong Kong.  In order to help the youth better seize opportunities, the Government has launched the Greater Bay Area Youth Employment Scheme, furthered Lam. As of 30 April, 321 firms have created 2,394 job openings thereunder, as compared with 2,000 in projection. In particular, 1,267 were innovation related, almost a double to the earlier estimate.
The Financial Reporting Council (FRC) and the Hong Kong Institute of Certified Public Accountants (HKICPA) today signed a Memorandum of Understanding (MoU) to enhance efficient and effective cooperation and coordination of their respective functions. The FRC and the HKICPA share a common goal in improving audit quality and the standards of professional conduct of PIE auditors and of the accountancy profession in general.
New World First Bus (NWFB) and Citybus announced that passengers can enjoy new travelling experience with more payment options on bus as payment by QR code on NWFB and Citybus will be extended to the entire fleet of more than 300 bus routes from 2:30 am on Sunday, 9 May.  Adult fares are pre-set on the new e-payment system and there is a fare concession button for children and the elderly.
The Government accords high value to fintech development and will nudge the industry development by externally promoting the edge of the city, brushing up the scrutiny regime, optimizing the infrastructure and nurturing talents, said Chief Executive Carrie Lam. At this moment, over 600 fintech firms have set foot in Hong Kong. In order to help the youth better seize opportunities, the Government has launched the Greater Bay Area Youth Employment Scheme, furthered Lam. As of 30 April, 321 firms have created 2,394 job openings thereunder, as compared with 2,000 in projection. In particular, 1,267 were innovation related, almost a double to the earlier estimate.
CATHAY PAC AIR (00293.HK) has tapped investment banks for its planned US dollar bond issuance for the first time in almost 25 years, reported Reuters. However, the issue size has yet to be determined.  The issue will go ahead under Regulation S, meaning the debt could only be sold to institutional investors outside the US.
Galaxy Digital Founder and CEO Mike Novogratz told CNBC that Dogecoin's uptick this year could be seen as the people's "middle finger" to the traditional financial system.  The crypto bull said the public do not like the existing financial system, adding there is something pure reflected by dogecoin if the whole spirit of the crypto revolution is considered.
AlipayHK announced the official debut of the "Ant Bank" mini-program on the app, hoping to provide 2.7 million local active users with a new financial service experience.   AlipayHK users can open Ant Bank's Cun Kuan Bao accounts and enjoy the service via the mini-program with effect from today.
The Government announced that all foreign domestic helpers (FDHs) in Hong Kong who had yet to complete a COVID-19 vaccination course are required to receive testing on a compulsory basis on or before May 9. Specimens were collected for more than 201,000 FDHs from May 1 to 4 at community testing centers (CTCs) and mobile specimen collection stations.  As of May 4, more than 130,000 FDHs have reserved time slots at CTCs for receiving the test from May 5 to 9.
BUD APAC (01876.HK) reported 1Q21 earnings of US$1.013 billion from US$845 million loss in the same period of 2020 and has witnessed growth momentum in Mainland China market from 2020, said Co-Chair and CEO Jan Craps at a conference call. Such impetus is still accelerating this year, prompting the company to maintain an aggressive investment strategy.  The brewer has started hiking product prices in various regions from 1 April, subject to local inflation figures. It also announced that Carlos Brito will step down as CEO after 15 years of service. The board unanimously promoted the group's North America Zone President Michel Doukeris to succeed Brito, effective 1 July.
WHO experts expressed "very low confidence" in data provided by Sinopharm on BBIBP-CorV vaccines in relation to the risks over serious side-effects in patients, according to a document seen by Reuters.  On the other hand, the health body is overall confident of the vaccine's efficiency in preventing novel coronavirus.
TENCENT (00700.HK) took top spot in the revenue chart for China's mobile game publishers in April, followed by NTES-S (09999.HK), according to Sensor Tower's report.
WHARF REIC (01997.HK) tracked slightly better mall performance than government data in the first quarter of 2021, revealed Chairman and Managing Director Stephen Ng at shareholders' meeting.  Traffic and pedestrian flow at WHARF REIC's malls burgeoned as the pandemic has seen improvement and come under control, together with stable retail market conditions and the group's promotion resources input.
Sony (SONY.US) will adopt TSMC (TSM.US)'s 6nm process for PS5's semi-custom console chips, marking a mini-facelift for the video game console, Taiwanese media citing supply chain sources.
Overnight HIBOR last posted at 0.03786%, according to HKAB. Meanwhile, the 1-Month HIBOR related to mortgage rate last stood at 0.07857%, down for 5 days, marking a 1-month low.
NEWBORNTOWN (09911.HK) struck a partnership with ByteDance's traffic platform on all fronts, aiming to facilitate in-depth market expansion and commercial monetization surrounding product offerings, according to Chinese media.
CHONG HING BANK (01111.HK) last traded at $13.76, up 30.3%, before its share trading was halted this morning. The bank announced that trading in its shares, at its request, had been halted with effect from 10:45, pending the release of an inside information announcement.
Chinese National Development and Reform Commission announced indefinite suspension to all activities under strategic economic talks with Australia's federal government, with immediate effect.
XIAOMI-W (01810.HK)'s smartphone shipment in Europe ballooned 85% YoY in the first quarter of 2021, the giant's Vice President Zeng Xuezhong citing Canalys' findings.
XIAOMI-W came in second in terms of European market share (23%), surpassing Apple (AAPL.US) (+0.196%). The Chinese company also topped Spain's smartphone shipment chart, capturing 35% of the market share.
The Government announced that as of 20:00 yesterday, about 1.5936 million doses of COVID-19 vaccines had been administered to the public, with about 1.0054 million people receiving their first dose and about 588,100 getting their second dose.
SJM HOLDINGS (00880.HK)announced the issue of HK$1.25 billion 3.9% senior notes due 2026 and MOP300 million 3.9% senior notes due 2026. The Company intends to use approximately 90% of the net proceeds from the proposed offering for refinancing the Syndicated Credit Facilities, i.e. secured bank loans for the Grand Lisboa Palace project and general corporate purposes, and the balance for general corporate purposes.
PRE MARKET HOURS NEWS 
Adidas is inviting bidders for the auction sale of its Reebok brand, which may be valued at EUR1 billion, Reuters learnt from insiders. ANTA SPORTS (02020.HK), LI NING (02331.HK) and Fila were seen as potential suitors.
SPEED APPAREL (03860.HK) announced that the Japanese listed company  EPS HOLDINGS proposed purchase of 375 million shares from Chan Wing Kai, an executive Director and the chairman of the Board, at an offer price of $0.988 each, representing a 45% discount to the closing price as quoted on the Stock Exchange on the Last Trading Day.  The board also proposed a change of company name from "Speed Apparel Holding Limited" to "EPS Creative Health Technology Group Limited". An application has been made by the Company for the resumption of trading in the Shares with effect from today.
The Government will allow flexibility under the pre-requisite of fulfilling the "vaccine bubble" principle for catering premises to change their modes of operation according to the requirement in the remaining days of the current cycle of this round of social distancing measures. The relevant directions and specifications will take effect from 0.00am on May 6 till May 12.
The average MPF return in Hong Kong hit 1.89% for April 2021, according to Lipper's data. Based on total MPF assets of over $1.14 trillion and member size of 4.459 million at end-2020, the per capita MPF gain reached $4,828 in April 2021.
China recorded a 200% YoY transaction value uptick in tourist attractions nationwide during the May Day holiday, along with a 120% YoY growth in hotel sales transactions, according to Alipay's data report.
BUD APAC (01876.HK) announced the unaudited results for the first quarter ended 31 March 2021. Net profit was US$233 million, against the loss of US$41 million from a year ago.  The brewer delivered volume growth of 84.6% in 1Q21 for the China market, primarily driven by strong momentum from its Chinese New Year campaign and throughout the quarter, coupled with a favorable comparable versus last year.
The U.S. anticipates to engage with Chinese officials “in the near term” to evaluate their implementation of “Phase 1” trade deal, said Trade Representative Katherine Tai at a Financial Times online event.
MANULIFE-S (00945.HK)  announced that 1Q21 net income slid 39.58% yearly to CAD783 million; core earnings grew 58.46% to CAD1.629 billion; diluted. EPS equaled CAD0.38; DPS was CAD0.28.
During the five days ended 4 May 2021, Macau recorded a total of 186,000 inbound travelers, 25% of the figure recorded during the same period in 2019, Radio Macau citing Public Security Police Force.
China's transport system may have delivered 267 million passengers in total throughout the May Day holiday, as Xinhua cited MOT's estimates.  In other words, 53.474 million passenger trips were carried per day, up 122.2% from that in the same period a year ago.
TENCENT (00700.HK) is in negotiation with the Committee on Foreign Investment in the United States (CFIUS) to seek permission to retain its stakes in the US game developers, such as Riot Games (40% stake) and Epic Games (majority stake), Reuters cited people with the knowledge of the matter.
The China UnionPay network tracked a transaction value of RMB1.5 trillion during 1-4 May 2021, the first four days of the May Day holiday. The figures burgeoned 5.3% year-on-year, hitting the highest-ever level.
China's property transactions trailed expectation during the May Day holiday, when outbound travels had been relatively concentrated, coupled with a raft of home market adjustment policies rolled out in April, reported China Securities Journal.  During the period, China tracked fewer home deals in popular cities than those for the Ching Ming holiday.
BAUHAUS INT'L (00483.HK) issued a positive profit alert. The Group is expected to record a net profit of approximately HK$30 million to HK$100 million for the year ended 31 March 2021 as compared to a net loss of about HK$173 million for the year ended 31 March 2020.
SUNAC (01918.HK) announced that in April, the Group achieved contracted sales value amounted to RMB54.73 billion, representing year-on-year increase of 62%, and contracted sales area amounted to approximately 3.825 million sq.m., with contracted average selling price of RMB14,310 per sq.m..

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