HSI +130pts (+0.5%) 29,071 HSCEI +31pts (+0.3%) 11,015 T/O HK$136.27bn (+1.8% DoD excluding Tuesday WuXi Bio placement of HK$11.556bn)
Markets opened slightly higher and were gradually working better from late morning. The initial weakness was after German Consumer confidence missed but Deutsche Bank +VE released its highest quarterly profit since 2014;a net profit of €908m in the first three months of 2021, compared to €43m in the first quarter of 2020.
Earnings due from, Sanofi, Dassault Systemes, Banco Santander, Spotify, French Connection, GlaxoSmithKline and Lloyds Banking Group, among othersTravis Perkins weak after the British builders’ retailer completed its demerger from subsidiary Wickes.
Gfk Consumer Confidence May -8.8 vs -6.1 April (F/cast was -3.8)
FRANCE Consumer Confidence Apr 94 vs 94 Mar (F/cast was 95)
Opened slightly +VE in Asian time Dow +50pt, S&P +0.05%, NDX +0.1% but have pulled back to Dow -59pts S&P flat and NDX -0.2%
MBA Mortgage Applications -2.5% vs +8.6% prior
MBA 30 yr Mortgage Rate +3.17% vs +3.2% prior
Wholesale Inventories, Goods Trade Balance, EIA Oil Report, FOMC Rate Decision and Press Conference.
Earnings: Apple, Boeing, Facebook, Qualcomm, Ford, MGM Resorts, Humana, Norfolk Southern, General Dynamics, Boston Scientific, eBay, Samsung Electronics, GlaxoSmithKline, Yum Brands, SiriusXM, Aflac, Cheesecake Factory, Community Health System, CIT Group, Entergy, CME Group, Hess, Ryder System
At 9pm on Wednesday (EDT), US President Biden will unveil the US$1.8-trillion American Families Plan to build up educational opportunities and child care. The proposal comprises a US$1-trillion spending, including US$800 billion in tax cuts and credit programs for middle- and lower-income families.
CHINA CSI 300 closed +29pts (+0.6%) @ 5,119
CSI300 opened lower and tested 5,050 in early trades then shot up to 5,096, dipped to 5,080 and rallied to 5,105 before easing back into lunch at 5,090 (flat). PM opened higher but eased back to 5,087 before working better for the rest of the afternoon andclsoed at the day high. Looks like Team China in action
Electric vehicles and healthcare stocks on the back of strong earnings, while investors waited for a likely politburo meeting later this week. Leaders were liquor, coal, logistics, automobiles, medical vaccines.Laggards agriculture, software, digital currency, non-ferrous metals and paper makers Shanghai Comp +14pts (+0.4) @ 3,457Shenzhen Comp +134pts (+0.9%) @ 14,398ChiNext Comp +38pts (+1.3%) @ 3,051
CHINA DATA No data
HSI Pre market opened 28,992 +50pts vs +119pts ADR’s but initial sold down to 28,890 before bouncing backhand working to test 29,050 around 10:30am, then trended lower to 28,980 at lunch. PM opened higher but dipped to 28,960 a couple of times, then worked higher but resistance around 29,050 eased back and then worked a little better into the close and ticked up 41pts in the closing auction.
HSBC strong post earnings
Sentiment cautious ahead of the FOMC and a big earnings day tomorrow with Chinese banks, airlines, shippers, Pharma and others reporting . T/O continues to drop ahead of next weeks labour day holidays, and Southbound trading will be paused starting tomorrow and resumes on May 6th.
HONG KONG DATA
The Rating and Valuation Department announced that the private residential property price index +0.8% monthly to 388.3 in March 2021, against 388.2 in August 2019 and logging the highest level since July 2019.
The Centre for Health Protection reported 7 new covid cases (vs 8 Tuesday), 1 local.
Short Selling Wednesday 13.1% vs 10.3% Tuesday
Top Shorts Ali Health (241) 40%, Wharf REIC (1997) 36%, Hengan (1044) 35%, Bank Of China (3988) 31%, BOCOM (3328) 29%, Hang Lung Property (101) 28%, Haidilao (6862) 28%, Hang Seng Bank (11) 28%, Bud Apac (1876) 27%, CK Asset (1113) 24%,
Earnings Due Wednesday 29 April
Northeast Electric Development Co. Ltd. - H Shares 00042.HK Electric Equipment
Sichuan Expressway Co. Ltd. - H Shares 00107.HK Road and Railway
Beijing Jingcheng Machinery Electric Company Limited - H Shares 00187.HK Machinery & Equipment
CSSC Offshore & Marine Engineering (Group) Company Limited - H Shares 00317.HK Commercial Vehicle
Angang Steel Co. Ltd. - H Shares 00347.HK Steel
China Eastern Airlines Corporation Ltd. - H Shares 00670.HK Airline Services
Air China Ltd. - H Shares 00753.HK Airline Services
Xinhua Winshare Publishing and Media Co., Ltd. - H Shares 00811.HK PublishingPetroChina Co. Ltd. - H Shares 00857.HK Petroleum & Gases
China Longyuan Power Group Corporation Ltd. - H Shares 00916.HK Electricity Supply
China Suntien Green Energy Corporation Ltd. - H Shares 00956.HK Gas Supply China CITIC Bank Corporation Ltd. - H Shares 00998.HK Banks
Chongqing Iron & Steel Co. Ltd. - H Shares 01053.HK Steel
China Southern Airlines Co. Ltd. - H Shares 01055.HK Airline Services
Huadian Power International Corporation Ltd. - H Shares 01071.HK Electricity Supply
Dongfang Electric Corporation Ltd. - H Shares 01072.HK Electric Equipment Luoyang Glass Co. Ltd. - H Shares 01108.HK Industrial Goods
COSCO SHIPPING Energy Transportation Co., Ltd.- H Shares 01138.HK Marine & Harbour Services
Zoomlion Heavy Industry Science and Technology Co., Ltd-H Sh 01157.HK Machinery & Equipment
Yanzhou Coal Mining Co. Ltd. - H Shares 01171.HK Coal
China Railway Construction Corporation Ltd. - H Shares 01186.HK Infrastructure Agricultural Bank of China Ltd. - H Shares 01288.HK Banks
Dynagreen Environmental Protection Group Co., Ltd. - H Share 01330.HK Environmental Goods
New China Life Insurance Co. Ltd. - H Shares 01336.HK Insurance
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. Ltd. - H Shares 01349.HK BiotechnologyIndustrial and Commercial Bank of China Ltd. - H Shares 01398.HK Banks
GUOLIAN SECURITIES CO., LTD.-H shares 01456.HK Securities Red Star MMetallurgical Corporation of China Ltd. - H Shares 01618.HK Infrastructure
Shanghai Dazhong Public Utilities (Group) Co., Ltd.-H shares 01635.HK Gas Supply Postal Savings Bank of China Co., Ltd.-H shares 01658.HK Banks
RRC Corporation Ltd. - H Shares 01766.HK
Shandong Gold Mining Co., Ltd. - H Shares 01787.HK Precious Metal
Xinte Energy Co., Ltd. - H Shares 01799.HK Alternative Energy
China Communications Construction Co. Ltd. - H Shares 01800.HK Infrastructure Shanghai Junshi Biosciences Co., Ltd. - H Shares 01877.HK Biotechnology
COSCO SHIPPING Holdings Co., Ltd.- H Shares 01919.HK Marine & Harbour Services
China Minsheng Banking Corp., Ltd. - H Shares 01988.HK Banks
BBMG Corporation - H shares 02009.HK Construction Materials
China Zheshang Bank Co., Ltd. - H Shares 02016.HK Banks
Yantai North Andre Juice Co. Ltd. - H Shares 02218.HK Soft Drinks
Guangzhou Automobile Group Co., Ltd. - H Shares 02238.HK Automobiles & Components
Weichai Power Co. Ltd. - H Shares 02338.HK Automobiles & Components
WuXi AppTec Co., Ltd. - H Shares 02359.HK Biotechnology
BOC Hong Kong (Holdings) Ltd. 02388.HK Banks
Shanghai Electric Group Co. Ltd. - H Shares 02727.HK Electric Equipment
COSCO SHIPPING Development Co., Ltd.- H Shares 02866.HK Marine & Harbour Services
Bank of Communications Co., Ltd. - H Shares 03328.HK Banks
Chongqing Rural Commercial Bank Co., Ltd. - H Shares 03618.HK Banks
Bank of Qingdao Co., Ltd. - H Shares 03866.HK Banks
Zhuzhou CRRC Times Electric Co., Ltd. - H Shares 03898.HK Commercial Vehicle China International Capital Corporation Ltd. - H Shares 03908.HK Securities
DFZQ-H shares 03958.HK Securities
China Railway Signal & Communication Corporation Ltd. -H Shs 03969.HK System Applications & IT Consulting
Bank of China Ltd. - H Shares 03988.HK Banks
Shanghai La Chapelle Fashion Co., Ltd.-H Shares 06116.HK Apparel
JOINN Laboratories (China) Co., Ltd.- H Shares 06127.HK Medicine
Everbright Securities Company Limited-H shares 06178.HK Securities
CanSino Biologics Inc. - H Shares 06185.HK Biotechnology
Qingdao Port International Co., Ltd. - H Shares 06198.HK Marine & Harbour Services Haier Smart Home Co., Ltd. - H Shares 06690.HK Household Appliances
Shenwan Hongyuan Group Co., Ltd. - H Shares 06806.HK Securities
Yangtze Optical Fibre and Cable Joint Stock Ltd. Co. - H Shs 06869.HK Telecomm. & Networking Equipment China Galaxy Securities Co., Ltd. - H Shares 06881.HK Securities
Huatai Securities Co., Ltd. - H Shares 06886.HK Securities
EARNINGS Out Tuesday 27 April
BYD ELECTRONIC (00285.HK) announced first quarters result ended March 2021. The net profit amounted to RMB808 million, up 22.9% yearly. EPS was RMB0.36.
PICC GROUP (01339.HK) announced first quarter results ended March 2021. Operating income rose 2.9% year on year to RMB173.762 billion. Net profit amounted to RMB10.034 billion, up 42.1%. EPS equaled RMB0.23.
SHENZHENEXPRESS (00548.HK) announced that net profit amounted to RMB541 million for the first quarter of 2021, against net loss of RMB133 million in the same period last year. The Group is expected to record a significant YOY increase in net profit for the first half of 2021. However, the Group cannot make a more accurate forecast.
SINOTRANS (00598.HK)announced unaudited consolidated results for the first quarter ended 31 March 2021. Net profits attributable to shareholders approximated RMB835 million, up 2.45 times yearly.
CHINA OILFIELD (02883.HK) announced the first-quarter result ended March 2021. The net profit amounted to RMB181 million, down 84.1% yearly. EPS was RMB0.04.
CHINA LIFE (02628.HK) announced that, based on China Accounting Standards for Business Enterprises, net profit was RMB28.589 billion in the first quarter of 2021, an increase of 67.3% year on year. EPS equaled RMB1.01.
PICC P&C (02328.HK) announced first quarter results ended March 2021. Net profit was RMB8.942 billion, up 40.7% yearly; gross written premiums reached RMB135.836 billion, up 6.4% yearly.
CHINA OVERSEAS (00688.HK) announced that for the first quarter of 2021, the operating profit was RMB6.18 billion, an increase of 10.3% as compared to the same period in last year. The Group together with its associates and joint ventures achieved contracted property sales of RMB89.41 billion, an increase of 49.7% yearly.
CHINA TELECOM (00728.HK) announced first-quarter results ended March 2021. Operating revenues were RMB106.873 billion, representing an increase of 12.7% over the same period of last year; profit attributable to equity holders was RMB6.441 billion, representing an increase of 10.6% over the same period of last year.
HKEX (00388.HK) announced the first-quarter results. Net profit burgeoned 70% yearly to $3.84 billion, slightly above $3.82 billion in brokers' median forecast. EBITDA leaped 61% annually to $4.809 billion.Asked at a shareholder meeting when the secondary-listed China concepts will be eligible to join the Southbound Trading,Chairman Laura Cha replied that this is not a decision can be made by HKEX itself but the Exchange will keep close contact with the related department of China in hope of early wrap-up. She also revealed that there is not specific timetable at this juncture. The new CEO Nicolas Aguzin will be on board next month, by then the Exchange and Hong Kong's capital market will embrace opportunities, Cha added.
AFTER MARKET NEWS .
Macau Hoteliers and Innkeepers Association told Radio Macau that the hotel occupancy rate during the "May 1 Golden Week" holiday has reached 60-70%, and the average room rate MOP400-500.
CHINA VANKE (02202.HK) plans to spin off its property management unit for a Hong Kong listing to raise roughly US$2 billion, Bloomberg citing sources. The real estate developer is in talks with several banks on the plan, which may be rolled out as soon as end-2021, the people said. But Management denied the report.
Taobao Live announced a plan to further enrich its e-commerce ecosystem by nudging 2,000 live rooms and 200 partners to generate RMB100 million in annual salesturnover
GEELY AUTO (00175.HK) announced that Value Century and Zhejiang Fulin, wholly owned subsidiaries of the Company, entered into the Maple Guorun Disposal Agreement with Shanghai Maple and the JV Company, pursuant to which the JV Company agreed to acquire through its indirect wholly foreign-owned subsidiary, and Value Century, Zhejiang Fulin and Shanghai Maple conditionally agreed to sell, their respective 91%, 8% and 1% equity interest(s) of Maple Guorun, for a cash consideration of approximately RMB980 million in total.Maple Guorun is an investment holding company and the JV Company acquires Maple Guorun as a holding company to consolidate assets required for the establishment of an intelligent vehicle ecosystem.
The Company announced earlier that it had entered into the cooperation framework agreement with Geely Holding in relation to the formation of the JV Company which will establish an indirect wholly foreign-owned enterprise in the PRC for the purpose of engaging in the research and development, purchase and sale of the electric mobility related products such as the intelligent electric vehicles under the ZEEKR Brand and the provision of service relating thereto.
OIL COMPANIES FIRM after OPEC+ recommended proceeding with plans to gently revive oil production as global demand recovers from the pandemic. CH OILFIELD (2883 HK +0.8%) PETROCHINA (857 HK +0.7%) CNOOC (883 HK +0.1%).
BASE METALS WEAK after recent rallies as Iron ore and Copper hit highs concerns about output cuts. ANGANG (347 HK -2.4%) JIANGXI COPPER (347 HK -3.5%) CHALCO (2600 HK -2.4%). I think also some weakness ahead of earnings.
*E-COMMERCE/INTERNET FIRM as ALPHABET easily topped Wall Street's f/casts, with adjusted revenue coming in at US$45.6b on the strength of increased digital ad spending on Google. ALIBABA (9988 HK +2.3%) JD (9618 HK +2.2%) NTES (9999 HK +1.5%) TRIP.COM (9961 HK +2.9%).
*HK PROPERTY FIRM as home prices in the city hit a 20-month high. SHKP (16 HK +0.5%) secured the first residential site in the govt's Kwu Tung North and Fanling North new development area for HK$8.61b, much higher than the market valuation of up to HK$6b. SINO LAND (83 HK +0.3%) KERRY PROP (683 HK +1.1%) WHARF (4 HK +0.8%).
*AUTO's WEAK amid concerns on chip shortages for car manufacturing. GEELY (175 HK -4%) GREAT WALL (2333 HK -2.6%) DONGFENG (489 HK -2%) BYD (1211 HK -1.7%).
*SHIPPING WEAK after OOIL (316 HK-8.5%) shareholder sold 7m shs of the company in a secondary placement at HK120/shr, a 12% discount from yesterday's closing price of HK$135.60. The placement raised about US$110m.
COSCO SHIP (1919 HK -4.4%) PAC BASIN (2343 HK -2.2%) SINGAMAS (716 HK +3%).
*SPORTWEAR STRONG as domestic brands substitution trends are accelerating in China. ANTA (2020 HK +4%) POU SHENG (3813 HK +1%) 361 DEGREES (1361 HK +1%)
Opened slightly higher and traded sideways until late morning when it rallied to 7,030 level after the inflation data was better than expected. Market then eased back slightly and traded sideways to close +35pts (+0.5%) @ 7,069
Inflation Rate Q1 +1.1% YoY vs +0.9% Q4 (F/cast was +1.5%)
Inflation Rate Q1 +0;.6% QoQ vs +0.9% Q4 (F/cast was +1%)
RBA Trimmed Mean CPI Q1 +1.1% YoY vs +1.2% Q4 (Consensus was +1.2%)
Tokyo reported 925 more Covid-19 cases today, with intraday tally exceeding 900 since 28 January prompting the sell off into the close.
Nikkei opened slightly lower and initially traded sideways for the first hour but then rallied over the next hour to 29,111 then eased and traded sideways into lunch. PM opened higher but drifted lower to 29,080 mid session before working better but then sold down to close +62pts (+0.2%) @ 29,054
Topix opend higher and trended higher through the morning but traded in a similar pattern to the Nikkei in the afternoon to close +6pts (+0.3%) @ 1,909
Markets got a boost as Nexon announced buying $100m bitcoin saying it was doing so to protect against currency debasement.
DATA pre market
Retail Sales Mar +5.2% YoY vs -1.5% Feb (F/cast was +4.5%)
Retail Sales Mar +1.2% MoM vs +3.1% Feb (F/cast was +0.9%)
Investors very cautious ahead of FOMC and disregarding yesterday’s good GDP data.The Samsung family announced their plans for paying the inheritance tax bill.
Kospi open flat and trended lower for the first hour to 3,190 level and then traded sideways for most of the session until the last 40 minutes when it sold off to close at the day low; -34pts (-1.1%) @ 3,181
Kosdaq traded in a similar pattern to close -23pts (-2.2%) @ 998; dipping below 1,000 in the last 45 minutes.No data today but premarket tomorrow Business Confidence.
Opened slightly higher and traded sideways for the first hour but then sold down to 17,500 before bouncing. Then traded sideways around 17,550 but around 12:50 dipped to 17,516 but rallied back and closed -28pts (-0.2%) @ 17,568
Again good local macro data being ignored.
CONNECT FLOWS (small increase DoD)
Northbound RMB 42,777m Sell 20,680m : 22,097m Buy
Southbound HK$ 16,276m Sell 8,280m : 7,996m Buy
Northbound RMB 49,242m Sell 24,326m : 24,917m Buy
Southbound HK$ 16,077m Sell 7,464m : 8,613m Buy
BABA (09988.HK) +2.3%
CCB (00939.HK) +1.6%
MEITUAN (03690.HK) -1.2%
TENCENT (00700.HK) +0.5%
AIA (01299.HK) +0.3%
HKEX (00388.HK) -0.2%
PING AN (02318.HK) +0.2%
HSI & HSCEI Constituents on Move:
CG SERVICES (06098.HK) +4.9%, hitting new high
JD HEALTH (06618.HK) +4.7%
ANTA SPORTS (02020.HK) +4%
GEELY AUTO (00175.HK) -4%
XIAOMI (01810.HK) -3.8%
WH GROUP (00288.HK) +3.2%
HSBC HOLDINGS (00005.HK) +3.2%
HSMI & HSSI Constituents on Move:
GREENTOWN SER (02869.HK) +11.2%, hitting new high
FOSUN PHARMA (02196.HK) +9.2%, hitting new high
CHINA EDU GROUP (00839.HK) +7.2%, hitting new high
CANVEST ENV (01381.HK) + 3.4%, hitting new high
MARKET HOURS NEWS.
Apple (AAPL.US) plans to revise down its AirPods production volume by 25-30% this year to 75-85 million units, the Nikkei learnt from inside sources.
The latest UBS Investor Sentiment's survey indicated that the percentage of cash in the portfolio of global individual investors was 22%, down 3 ppts since last September. The high cash holdings deviated from the shiny market and economic development during the period. However, 41% investors still considered adding stocks in the next six months, while 12% said they will reduce and 47% of them to maintain the current asset portfolio.
India reported more than 360,000 COVID cases, the world’s deadliest day, and 3,293 new deaths, taking the toll over 200,000, due to shortages of oxygen and medical supplies and hospital personnel. Nevertheless, experts opined these official figures have fallen way behind the actual numbers.
Hong Kong's property market has been flourishing since the period before Lunar New Year, with the March home price index indicating a continued market uptick and a bull run, said Louis Chan, Asia-Pacific Vice Chairman and Managing Director for Residential Sales at Centaline. Home prices will keep edging up amid a bull market, predicted Chan. The Centa-City Leading Index (CCL) is poised to shatter its historical peak at 190 in June ( around 5% away from the current level), and surpass 200 at end-2021.
As May Day's long holiday draws near in China, CHINA EAST AIR (00670.HK) (600115.SH) plans to operate over 16,000 flights from 30 April to 5 May to cater the enormous passenger flow with over 2.76 million seats, marking a resumption to the level in the same period of 2019, The Beijing News reported.
Cathie Wood's Ark Investment Management. ETF has recently acquired 284,735, 244,800 and 100,100 ADRs of MEITUAN (MPNGY.US), JD.com (JD.US) and Tencent Holdings Limited (TCEHY.US), foreign press citing deal disclosures.
Ant-backed Indian online delivery platform Zomato has lodged a listing application in India to fetch INR82.5 billion (USD1.1 billion), whereas the firm is seeking other investors amid rising China-India tensions.
Chief Executive Carrie Lam, at the LegCo, said she will explore "Hong Kong-Macau Travel Bubble" with Macau and China, and "Business Trip Bubble" with China.
National Healthcare Security Administration (NHSA) in Shandong Province published the Notice on the Implementation of the Results of the Fourth Batch of National Organizations' Centralized Procurement of Drugs, which specified that all public medical institutions in Shandong and medical insurance designated retail pharmacies etc. should sell to patients the shortlisted drugs. The fourth batch of Group Purchasing Organization (GPO) of China picked 158 products of 45 drug types with an average price cut of 52%.
Derek Chan, research head of Ricacorp Properties, said 1Q21 private residential property price index has grown 2.21%, the wildest upswing since 3Q19. Chan remained upbeat on 2Q21 price trend, citing gradually muted pandemic situation and recovering economy .
DoubleLine CEO Jeffrey Gundlach warned in a Bloomberg interview that the U.S. Federal Reserve may have understated the inflation impact from its easy monetary policy. He believed American stocks are overvalued on nearly all metrics relative to foreign markets.
The Hong Kong Tourism Board (HKTB) extended its welcome to the Government’s relaxation of restrictions on the number of participants in local tours and would soon launch the second round of the “Spend-to-Redeem Free Tour” program, details of which will be announced shortly.
In an internal staff letter, CATHAY PAC AIR (00293.HK) has offered Hong Kong-based pilots and cabin crew a new voluntary redundancy program in an attempt to cut back costs. The struggling local flag carrier mentioned it sees “no discernible improvement” in a short-to-medium industry outlook.The layoff plan does not involve the airline's HK Express, South China Morning Post cited sources. Another company source said the number of participants of the program is not preset. At the requests of some employees, CATHAY PAC AIR decided to offer certain employee groups (pilots, cabin crew and airport employees, etc) the option
of a voluntary separation scheme, and provide support to all those who apply, including a competitive exit package.
TENCENT (00700.HK)'s Tencent Culture and Tourism said it clinched a strategic cooperation with KAISA GROUP (01638.HK) and CHINA UNICOM (00762.HK), under which the parties will render Kaisa International Resorts Group with seamless smart services in the comprehensive and multi-format intelligent service scenarios, harnessing 5G, cloud computing, big data, IoT, AI, AR, VR and so on.
Wong Kar-wai, a celebrity of MOST KWAI CHUNG (01716.HK)'s 100Most, did a shower live broadcast at music fountains at the Kwun Tong promenade last Saturday (24th). The Leisure and Cultural Services Department (LCSD) later announced that the fountains had been closed temporarily under suspected water contamination with liquid soap. With regards to the act of misconduct and use of liquid soap at the music fountains and interactive wet play areas of the Kwun Tong Promenade, the LCSD is considering taking legal action to hold the person(s) involved responsible. Shares of MOST KWAI CHUNG once thrived over 45% to peak at $0.96. The stock jumped 28.79% to last post at $0.85.
OPPO has been preparing for vehicle manufacturing, as 36kr.com quoted people within the circle of OPPO's executives. Alike XIAOMI-W (01810.HK), the promoter of OPPO's car-making plan is also the founder Chen Mingyong, the people said.
OOIL (00316.HK) shareholder PSD Investco agreed to place 7 million shares of the company at $120 each, an over 11% discount to the closing price yesterday, to raise $840 million, according to filings seen by Bloomberg. OOIL plummeted 8.4% to $124.2.
Indian smartphone shipments in the first quarter of this year increased by 26% year-on-year to 39 million units, representing India’s highest growth rate for six years, as revealed by Strategy Analytics' report.
By brands, XIAOMI-W (01810.HK) had 27% market share, capturing the prime position, with a 5% annual increment of shipment to 10.3 million units.
PRE MARKET HOURS NEWS
The Food and Environmental Hygiene Department (FEHD) announced that applications for the Catering Business Subsidy Scheme (applicable to liquor licensed premises (with Bar Endorsement), karaoke establishments and nightclubs with restaurant license) and the Further Subsidy to Commercial Bathhouse License Holder Subsidy Scheme under the fourth round of the Anti-epidemic Fund (AEF) will start from today until May 27
The White House is easing travel restrictions on Chinese and other international students into the U.S. from 1 August, Reuters reported.
The Government will disburse a further subsidy under the Anti-epidemic Fund to party rooms and pleasure vessels let for hire or reward. Each eligible premises or vessel will be given a one-off subsidy of $40,000. It is expected that the subsidy could be disbursed from late May onwards.
Multiple Guangdong travel agencies mentioned the tour price hike across and within provinces for the May Day holiday, reported Macao Daily News. Macau, the favorite IVS destination of Guangdong tourists, saw notably price surge in hotels with star rating for 1-2 May, which basically resumed to pre-epidemic levels. The tour operators suggested travelers to go out in off seasons.
The Chinese government is investigating into how Jack Ma obtained speedy approvals for his Ant Group's share listing last year, WSJ citing insiders. One of Beijing's focuses is the Sci-tech Innovation Board on the Shanghai Stock Exchange.
The probe indicates the looming uncertainty over the future of Ant Group and its controlling shareholder Ma.
China's State Administration of Press, Publication, Radio, Film and Television released the approval information for 86 online games in April. Titles from TENCENT (00700.HK), NTES-S (09999.HK) (NTES.US) , PWRD (002624.SZ), and YOUZU (002174.SZ) were on the approval list.
JIANGXI COPPER (00358.HK) announced first quarter results ended March 2021. Net profit attributable to shareholders amounted to RMB859 million, up 436.3% yearly.EPS equaled RMB0.25.
SINOPHARM (01099.HK) announced the first-quarter result ended March 2021. The net profit amounted to RMB1.216 billion, up 49.8% yearly. EPS was RMB0.39.
YUM CHINA-S (09987.HK) announced the result for the first quarter ended March 31, 2021. The net profit amounted to US$230 million, up 271% yearly. Basic
was US$0.55. A quarterly dividend of US$0.12 was declared.
CHINA EDU GROUP (00839.HK) announced results for the six months ended February 2021. Net profit was RMB831 million, up 67.1% yearly. EPS equaled 38.37 fen. Interim DPS was HK19.7 cents.
CMSC (06099.HK) announced the first-quarter report ended March 2021. The net profit amounted to RMB2.613 billion based on China Accounting Standards, up 45.3% yearly. EPS was 28 fen.
HUANENG POWER (00902.HK) announced the first-quarter report ended March 2021. The net profit amounted to RMB3.127 billion based on China's accounting standards, up 51.8% yearly. EPS was 17 fen.
CHINA RAILWAY (00390.HK) announced that for the first quarter of 2021, the value of new contracts declined 2.5% year-on-year to RMB329.23 billion.