Mar 24 HK WRAP. HK and China lower as Chinese international relations raise sanction worries


24 Mar

This and previous notes can be found at asianmarketsense.com
HSI -579pts (-2%) 27,918 HSCEI -263pts (-2.4%) 10,848 T/O HK$190.17bn (+14.2% DoD) 
EUROPE 
Markets opened lower following Asia and the US weakness and rising covid concerns. PMI data flash data showed surprisingly growth +VE for the recovery. Weakness in Retail and Utilities but Tech firm.
Data out
EUROZONE
PMI Flash
Manufacturing Mar 62.4 vs 57.9 Feb (F/cast was 57.4)
Services Mar 48.8 vs 45.7 Feb (F/cast was 46.6)
Composite Mar 52.5 vs 48.8 Feb (F/cast was 49.4)
GERMANY
Manufacturing Mar 66.6 vs 60.7 Feb (F/cast was 60.5)
Services Mar 50.8 vs 45.7 Feb (F/cast was 46.9)
Composite Mar 56.8 vs 51.1 Feb (F/cast was 51.7)
FRANCE
Manufacturing Mar 58.8 vs 56.1 Feb (F/cast was 56.5)
Services Mar 47.8 vs 45.6 Feb (F/cast was 46.1)
Composite Mar 49.5 vs 47 Feb (F/cast was 48.1)
UK
Inflation Rate Feb +0.4% YoY vs +0.7% Jan (F/cast was +0.8%)
Inflation Rate Feb +0.1% MoM vs -0.2% Jan (F/cast was +0.4%)
Core Inflation Rate Feb +0.9% YoY vs +1.4% Jan (F/cast was +1.4%)
Core Inflation Rate Feb zero % MoM vs -0.5% Jan (F/cast was +0.5%)
PPI Core Output Feb +1.4% YoY vs +1.5% Jan revised (F/cast was +1.4%)
PPI Core Output Feb +0.1% MoM vs +0.5% Jan revised (F/cast was +0.3%)
PPI Input Feb +0.6% MoM vs +1% Jan revised (Consensus was +0.7%)
PPI Input Feb +2.6% YoY vs +1.6% Jan revised (Consensus was +2.6%)
PPI Output Feb +0.6% MoM vs +0.8% Jan revised (F/cast was +0.2%)
PPI Output Feb +0.9% YoY vs +0.1% Jan revised (F/cast was+0.2%)
Retail Price Index Feb +1.4% YoY vs +1.4% Jan (F/cast was +1.4%)
Retail Price Index Feb +0.5% MoM vs -0.3% Jan (F/cast was+0.5% )
PMI Flash
Manufacturing Mar 57.9 vs 55.1 Feb (F/cast was 54.6)
Services Mar 56.8 vs 49.5 Feb (F/cast was51.5 )
Composite Mar 56.6 vs 49.6 Feb (F/cast was 51.1)
US Futures
Opened flat and eased in Asian time but rallied Dow +130pts (from +20pts), S&P +0.5% (from +0.1%) and NDX +0.8% (from +0.3%).
Intel strong premarket on news its to build two new factories in the US. Travel stocks also rebounding
Data
MBA Mortgage Applications -2.5% vs -2.2% prior
30 yr Mortgage Rate 3.36% vs 3.28% prior
Durable Goods Orders Feb -1.1% MoM vs +3.5% Jan (F/cast was +1.1%)
Durable Goods Orders Ex Trans Feb -0.9% MoMvs +1.6% Jan (F/cast was +0.8%)
Durable Goods Orders Ex Defence Feb -0.7% MoM vs +2.3% Jan (F/cast was +0.9%)
Later
EIA Oil Report, PMI Flash (Manufacturing, Services, Composite) Powell Testimony
Earnings from General Mills, Tencent, KB Homes and RH

CHINA CSI 300 closed -81pts (-1.6%) @ 4,929
Opened lower and initial saw an spike into the green (5,024) but reversed and then continued selling down until it found support at 4,943. It bounced but then again resumed the lower trend, before a small bounce into lunch at 4,940. PM saw continued weakness in choppy trading with support at 4,920 being tested a number of times. But every time it rallied it was met with more selling.
Concerns that the sanctions row could threaten the EU trade deal and hurt relations with a number of other nations and that could hurt its export trade.
The three major indexes fell collectively, with big cap index names leading the declines. Relative outperformers were Brokerages, Liquor, carbon neutral, and Cloud games Laggards were Chemical, Non-ferrous metals and Steel
Shanghai Comp -45pts (-1.3%) @ 3,367
Shenzhen Comp -200pts (-1.5%) @ 13,407
ChiNext -36pts (-1.3%) @ 2,773
CHINA DATA No data

HSI Pre market opened @ 28,438 -59pts vs -69pts ADR’s
Petrochems weak as US inventories rose and increased concerns about covid third wave impact on demand. Tencent was +0.4% initally
HSI sold down through the morning, it saw brief support at 28,000 but then broke below; tried to rally back above but then sold off into lunch (27 954). PM opened lower and hit 27,827 within 25 minutes. Then bounced and effectively traded sideways through the afternoon. Ticked higher in the closing auction. Concerns over China and results which continue to be mixed.
HSI is now -10% from its recent high and set to enter a technical correction. Increased turnover makes the correction more likely. Concerns over the suspension of BioNtech vaccinations an additional worry. Earnings remain mixed. Expect significant margin call selling on the open tomorrow.
HONG KONG DATA 
The Centre for Health Protection reported 10 new covid cases (vs 12 Tuesday) 4 from  unknown sources.
SHORT SELLING Wednesday 12.6% vs 14.7%  Tuesday
Top Shorts  Bud Apac (1876) 51%, Ping An (2318) 48%, Haidilao (6862) 43%, Bank Of China (3988) 36%, AAC Tech (2018) 34%, Wharf REIC (1997) 30%, BankComm (3328) 30%, China Life (2628) 29%,  Henderson Land (12) 29%, Country Garden (2007) 29%, China Res Land (1109) 27%, HSBC (5) 27%, ICBC (1398) 26%, Sands China (1928) 25%, Hang Seng Bank (11) 25%, MTRC (66) 25%,

EARNINGs due Thursday include Chow Sang Sang (116), Daphne (210), Maanshan Iron & Steel (323), Greenland (337), WingTai (369), SohoChina (410), Cosco Shipping into (517), Samson (531), Kerry Logistics (636), Skyworth (751), NetDragon (777), CNOOC (883), Anhui Conch (914), China Mobile (941), AEON stores (984), China CITIC Bank (998), TCL (1070), Meitu (1357), KAISA GROUP (1638), Shandong Chenming Paper (1812), KWG (1813), SIM Tech (2000), Country Garden (2007), BBMG Corporation (2009), AACTech (2018),  Guangzhou Automobile (2238),  Comba (2342), Guotai Junan Securities (2611), China Life Insurance (2628), Guangzhou R&F (2777), Win Hanverky (3322) and others

AFTER MARKET NEWS 
Hang Seng Indexes Company announced that BIDU-SW (09888.HK) meets the Fast Entry Rule of various indexes and will be added to Hang Seng Composite Index, Hang Seng China Enterprises Index, Hang Seng TECH Index, and Hang Seng Internet & Information Technology Index from 9 April.
AIA (01299.HK) announced formation of a new exclusive 15-year strategic bancassurance partnership with BANK OF E ASIA (00023.HK) covering Hong Kong and Mainland China.  AIA will pay a total consideration of HK$5.07 billion for the exclusive 15-year life insurance distribution partnership with BANK OF E ASIA and for the acquisition of 100 per cent of BEA Life Limited, a wholly-owned subsidiary of BANK OF E ASIA . AIA will also acquire a closed portfolio of life insurance policies underwritten by Blue Cross (Asia-Pacific) Insurance Limited.
BANK OF E ASIA (00023.HK) announced that it had today entered into the Share Sale and Framework Agreement and Regional Distribution Agreement with AIA (01299.HK) in relation to the sale of BEA Life. The bank considered that the sale of BEA Life (including the Portfolio) along with entry into long term exclusive Distribution Agreements with the AIA Group are in the best interests of the Bank. The bank is expected to book a profit in the amount of approximately HK$1 billion in respect of the Disposal.
HKEX (00388.HK) announced that it will offer investors Futures and Options on BILIBILI-SW (09626.HK) shares after its debut on 29 March.   BILIBILI-SW shares will also be included in HKEX’s designated securities eligible for short selling on the same date, subject to listing. Issuers can list derivative warrants on BILIBILI-SW shares on the same date, when the shares debut on HKEX’s securities market.
RAZER (01337.HK) founder Min-Liang Tan anticipated the firm to keep delivering strong growth and earnings from FY21 and beyond.  Asked if the firm mulls a U.S. IPO, Tan said RAZER will explore different opportunities like dual listing, stressing its long-term vision to unlock value for investors.
Hutchison China MediTech Limited (HUTCHMED) (HCM.US) announced that it has initiated a Phase Ib/II study of surufatinib in combination with BeiGene’s tislelizumab in patients with advanced solid tumors in the U.S. and Europe. The first patient was dosed on March 23, 2021.   This trial is to explore potential synergistic activity of the novel, oral angio-immuno kinase inhibitor surufatinib with the anti-PD-1 antibody tislelizumab in enhancing overall antitumor activity from inhibition of angiogenesis along with stimulation of an immune response.
DAHSING BANKING (02356.HK)'s Managing Director and Chief Executive Harold Wong saw NIM rebound in the third and fourth quarters of 2020. Last year's NIM contraction was mainly driven by faster interest rate fall than that of cost of capital, coupled with inadequate loan demand amid poor economic conditions.   Seeing a sustainable low-rate environment, the bank will refresh the loan deposit portfolio to maintain its NIM level, Wong added.
After Market Results 
CHINA OILFIELD (02883.HK) announced annual result ended December 2020. The revenue declined 7% year on year to RMB28.959 billion. The net profit amounted to RMB2.703 billion, up 8%.  EPS. was 56.65 fen. A final dividend of RMB0.17 was declared against a dividend of RMB0.16 in the corresponding period of the previous year.
KINGDEE INT'L (00268.HK)  announced annual result ended December 2020. The profit swung into loss of RMB335 million. LPS was 10.12 fen. No dividend was declared.
EMPEROR WATCH&J (00887.HK) announced annual result ended December 2020. The net profit amounted to HK$33.993 million, down 62.2% yearly. EPS was HK0.5 cents. A final dividend of HK0.15 cents was declared, against no dividend in the year-ago period.
NCI (01336.HK) announced annual result ended December 2020. The total revenues rose 18.5% year on year to RMB203.858 billion. The net profit amounted to RMB14.294 billion, down 1.8%.  EPS was RMB4.58. A final dividend of RMB1.39 was declared.
CHINA COAL (01898.HK) announced annual result ended December 2020. The revenue rose 9% year on year to RMB140.961 billion. The net profit amounted to RMB5.351 billion, down 13.7%. EPS. was RMB0.4. A final dividend of RMB0.134 was declared against a dividend of RMB0.127 in the corresponding period of the previous year.
XIAOMI-W (01810.HK) announced results for the year ended December 31, 2020 that net profit was RMB20.356 billion, up 102.7% yearly.  EPS equaled RMB0.849. No dividend was declared.  During the year, non-IFRS adjusted net profit rose 12.8% yearly to RMB13.006 billion, in-line with broker forecast.Senior Vice President Xiang Wang, at the conference call, attributed the global chip shortage to a cyclical under-supply in the semiconductor industry, foreseeing bumpier road ahead in 2021 and 2022. The shortage is due to underestimation of economic recovery under pandemic, paired with rigid demand nature of smartphones.   The company will bend over backwards to attain better supply from partners this year, Wang pledged, who voiced confidence in peach growth this year despite shortages.It also announced that on March 24, the Company entered into the Shareholder Vendors Agreement with Zimi International's shareholders to acquire 50.09% of the entire issued share capital of Zimi, at a total consideration of approximately US$205 million.  The consideration shall be satisfied as to approximately US$176 million in cash; and as to approximately US$28.45 million by the allotment and issue of 8.6709 million Consideration Shares, credited as fully paid, by the Company.
CGN NEW ENERGY (01811.HK) announced annual results ended December 2020. Net profit amounted to US$162 million, up 45.8% yearly. EPS equaled US3.78 cents. Final DPS was US1.59 cents (roughly HK12.42 cents).
BOCOM INTL (03329.HK) announced annual result ended December 2020. The net profit amounted to HK$843 million, up 68.4% yearly. EPS was HK$0.31. A final dividend of HK16 cents was declared, against HK9 cents in the same period of the previous year.
HAITONG INT'L (00665.HK)  announced annual result ended December 2020. The net profit amounted to HK$1.933 billion, up 24.6% yearly.  EPS. was HK32.97 cents. A second interim dividend of HK11.7 cents per share was declared.
YIXIN (02858.HK) announced annual results ended December 2020. Loss was RMB1.156 billion, against RMB30.936 million in a year ago's profit. LPS equaled RMB0.18. No dividend was declared.
TENCENT (00700.HK) announced the result for the year ended 31 December 2020. Net profit increased by 71.3% to RMB159.847 billion on a year-on-year basis, meeting the expected range of RMB108.466-195.806 billion and above the median forecast of RMB131.255 billion.   EPS equaled RMB16.844. A final dividend of HKD1.6 per share was declared, against HKD1.2 per share for 2019.Also announced Q4 ended December 2020, revenues rose 26.4% yearly to RMB133.669 billion. Profit was RMB59.302 billion, up 174.8%. EPS equaled RMB6.24.At the results release conference, President Martin Lau said the group has long exercised self-discipline and self-restraint in its financial business while keeping its eye wide open on risk control, underscoring compliance operation.  Regarding earlier reports that the group had met with antitrust regulators, Lau clarified that they took part therein on a voluntary basis.  He also mentioned the work and production resumption in China from 2H20, envisioning the positive media advertising uptick to carry on this year.  As for gaming business, Lau drew the press' attention to the increasing gamer size and loyalty during the pandemic.
ANTA SPORTS (02020.HK) announced annual results ended December 2020. Revenue rose 4.7% year on year to RMB35.512 billion. Net profit was RMB5.162 billion, down 3.4%.
EPS equaled 191.92 fen. Final DPS was HK47 cents. Full-year DPS was HK68 cents
MARKET COMMENT 
*E-COMMERCE MIXED with some rotation within sector on valuation and regulatory concerns. TENCENT (700 HK -0.8%) ahead of earnings and news Pony Ma had met regulators.  MEITUAN (3690 HK -3.9%) KUAISHOU (1024 HK -12%) but ALIBABA (9988 HK unch) XD (2400 HK +1.2%) and, CH LIT (772 HK +13.3%) after earnings beat.
*TECH & COMPONENT MAKERS WEAK on rising sanction risk China’s relationship with a number of  Western nations deteriorates. BYDE (285 HK -4.5%) TRULY (732 HK -4.3%) SUNNY OPT (2382 HK. -5.8%) TONGDA (698 HK -5%) SIM TECH (2000 HK -2.7%).
*AUTO MAKERS WEAK GEELY (175 HK -12%) after profit missed a number of brokers downgraded their target prices.  FT has a +VE article on Geely’s move into EV’s.GREAT WALL (2333 HK -8.5%) GAC (2238 HK -3.3%). There is also market concerns that rising raw material prices, pushing up battery costs for
EV's, BYD (1211 HK -6.8%) GANGFENG LITHIUM (1772 HK -4.8%).
*AIRLINES WEAK  as Europe extends lockdowns and the World Health Organization said that the number of new confirmed cases worldwide has climbed for five consecutive weeks, with an increase of 8% in the last week. AIR CH (753 HK -6.7%) CSA (1055 HK -7.4%) CEA (670 HK -5.5%) BJ AIRPORT (694 HK -5.1%) CATHAY (293 HK -4.7%).
Worth considering Qantas and Air New Zealand as they look to open a travel bubble.
*HK PROPERTY WEAK after HENDERSON LAND (12 HK -3.6%) failed to distribute bonus shares for a second year after reported net profit -40% YoY to HK$10.19b, but underlying profit +1.8% to $14.8b. The halting of BioNTech vaccine in the city also weighted on sector's sentiment. SHKP (16 HK -3.4%) CKA (1113 HK -2.2%) NWD (17 HK -3.3%) HYSAN (14 HK -2.6%) SINO LAND (83 HK -2.8%).
*MACAU CASINOS WEAK after the govt took the lead in suspending BioNTech vaccine and HK govt followed shortly aftererwards. MELCO (200 HK -5.2%) WYNN (1128 HK -5.1%) SANDS (1928 HK -4.1%) MGM (2282 HK -3.5%).  Comes after reports of increased traffic especially at the weekends
*RETAILER WEAK. after the BioNTech vaccine program is temporary halted in HK and Macau. PRADA (1913 HK -4.1%) SAMSONITE  (1910 HK -6%) SASA (178 HK -5.4%) GIORDANO (709 HK -3.7%) LUK FOOK (590 HK -2.6%).
*OTHER MOVERS: KULUN ENERGY (135 HK +4.6%) after its FY net profit +9.2% YoY to 6.06b yuan and declared a special dividend. ANTA SPORTS (2020 HK -4.9%) before earnings. It reported FY revenue that missed estimates but raises dividend 31% to 47 HK cents/shr.
Regional Markets
AUSTRALIA
Saw a choppy open after good flash PMI data pre market. Floods worsen -VE for sentiment but markets trended higher through the day and tested 6,800 mid afternoon but failed to break out and eased down at the end to close +33pts (+0.5%) @ 6,779
JAPAN 
Nikkei 225 opened lower at 28,765 initial ticked up to test 28,870 but failed and trended lower through the morning to 28,465 at lunch. PMI data missed a slight -VE. PM opened higher but trended lower to low of 28,380 before seeing a small bounce at the end but then slowdown to close -590pts (-2%) @ 28,406
Topix traded in a similar pattern although day low was at lunch (1,925). Opened higher and traded sideways in the PM but slowdown at the end to close -43pts (-2.2%) @ 1,929
Data
BoJ Policy Meeting Minutes
PMI Flash
Manufacturing Mar 52 vs 52.4 Feb (F/cast was 52.2)
Services Mar 46.5 vs 46.3 Feb (F/cast was 48.5)
Composite Mar 48.3 vs 48.2 Feb (F/cast was 49.8)
S KOREA  
Pre market PPI higher than forecast.
Kosdaq opened flat and dipped to 939 initially but then rebounded and traded higher to 954 by mid morning. Then pulled back before working slowly higher to close +8pts (+0.8%) @ 954
Kospi dipped on the open to 2,971 before rebounding but resistance at yesterday’s closing level. It tested a couple of time before retrenching to trade around the 2,990 level and closed -8pts (-0.3%) @ 2,996
Data out pre market
PPI Feb +0.8% MoM vs +0.9% Jan (F/cast was +0.4%)
PPI Feb +2% YoY vs +0.8% Jan (F/cast was +1.5%).
TAIWAN 
Opened lower initially rallied to 16,125 after good retail sales and industrial production data out after market Tuesday. Then retrenched to trade sideways around the 16,040 level and closed -146pts (-0.9%) @ 16,032
After Market M2 Money supply data Feb +9.12% YoY vs 8.84% prior
CONNECT FLOWS 
Shanghai 
Northbound RMB 46,618m Sell 20,559m : 26,059m Buy
Southbound HK$ 19,995m Sell 12,422m : 7,573m Buy
Shenzhen 
Northbound RMB 50,938m Sell 25,716m : 25,222m Buy
Southbound HK$ 22,087m Sell 12,090m : 9,997m Buy

Active Heavyweights
MEITUAN (03690.HK) -3.9%
AIA (01299.HK) -3.7%
HKEX (00388.HK) -2.9%
CCB (00939.HK) -1.7%
TENCENT (00700.HK) -0.8%
PING AN (02318.HK) -0.7%
BABA (09988.HK) unchanged
HSI & HSCEI Constituents on Move:
KUAISHOU-W (01024.HK) -12%
GEELY AUTO (00175.HK) -11.8%
NONGFU SPRING (09633.HK) -7.4%
SUNNY OPTICAL (02382.HK) -5.8%
WHARF REIC (01997.HK) -5.2%
ANTA SPORTS (02020.HK) -4.9%
CHINA FEIHE (06186.HK) -4.4%
JD HEALTH (06618.HK) -4.2%
AAC TECH (02018.HK) -4.2%
SANDS CHINA LTD (01928.HK) -4.1%
SINO BIOPHARM (01177.HK) -4%
SMIC (00981.HK) -3.7%
HENDERSON LAND (00012.HK) -3.6%
BUD APAC (01876.HK) -3.5%
SHK PPT (00016.HK) -3.4%
NEW WORLD DEV (00017.HK) -3.3%
CM BANK (03968.HK) -3%
HSMI & HSSI Constituents on Move:
CH MODERN D (01117.HK) -15.3%
CIMC ENRIC (03899.HK) -14.9%
CHINA LIT (00772.HK) +13.3%
HUAZHU (01179.HK) -11.9%
ZA ONLINE (06060.HK) -11.5%
MAN WAH HLDGS (01999.HK) -10%
XTEP INT'L (01368.HK) +5.3%, hitting new high
AGILE GROUP (03383.HK) +4.1%, hitting new high
MARKET HOURS NEWS
BIDU-SW (09888.HK)'s artificial intelligence chip unit Kunlun has completed a new round of financing, whose valuation may thus grow to around RMB13 billion.  The fundraising involved US$2 billion, according to earlier rumors.
Tesla (TSLA.US) CEO Elon Musk tweeted that customers can now buy a Tesla vehicle using Bitcoin, which will be retained by the EV maker and will not be converted to other fiat money.
China has bought US$123 billion of American agricultural, manufactured and energy products in the first 14 months since the phase-one trade deal was inked in January 2020, representing 32.6% of the targeted size of US$378 billion for 2020-21, according to Bloomberg's statistics.
China’s top ride-hailing firm Didi Chuxing intends to turn to the US for its. IPO instead of Hong Kong, Reuters quoted multiple people with the knowledge of the matter. The target valuation is at least US$100 billion, representing a ballooned amount over the previously rumored.   Another source within the circle of the firm disclosed the company may consider a secondary listing in Hong Kong if it is able to move along the US IPO.
XIAOMI-W (01810.HK) plans to launch in South Korea an array of mid-range smartphones to boost local market share, reported Korea Bizwire.   Rumor has it that South Korea's LG is considering a disposal of its mobile communication business.
Chinese AI-powered technology platform BAIRONG-W (06608.HK) plans to price its shares at $31.8 each, the upper limit of the offer price. range $26.5-31.8, IFR citing insiders.
TIMES CHINA (01233.HK)'s FY20 contracted sales totaled RMB100.381 billion, up 28.1% year-on-year. The group fixed its FY21 sales target at RMB110 billion, up around 9.6% from last year's contracted sales.  TIMES CHINA's growth guidance was lowered to 10% for FY21, a reasonable level in Chairman and CEO Shum Chiu Hung's view. The group's development focus will gravitate from sales increment to earnings hike and financial condition improvement going ahead, he added.
STANCHART (02888.HK) announced that it had yesterday repurchased in London 2.1581 million shares at GBP10.4428 million.
At CH MODERN D (01117.HK) 's FY20 results release press conference, CEO Lina Gao commented that the market may attach doubts to the plan to acquire the entire equity interests in Fuyuan, which operates a total of 14 dairy farms in China, from MENGNIU DAIRY (02319.HK), Goldman Sachs and such other vendors at an aggregate consideration of RMB3.48 billion.  While Fuyuan now owns around 60,000 dairy cows, roughly 20% of CH MODERN D's total count, the deal should contribute about 20% to the group's dairy output, said the executives. Meanwhile, milks prices were expected to go up at least 6% this year amid ongoing raw milk under-supply on a full-year basis.
Lunchtime Results 
HOPSON DEV HOLD (00754.HK) announced annual result ended December 2020. The net profit amounted to HK$13.634 billion, up 43.7% yearly. EPS was HK$6.15. A final dividend of HK$1.1 was declared against a dividend of HK$0.3 in the corresponding period of the previous year.
RAZER (01337.HK) announced annual results ended December 2020. Profit was US$5.626 million, as compared with US$84.179 million in a year ago's loss.  EPS
equaled US$0.001. No dividend was declared.
CHINA STATE CON (03311.HK) announced annual result ended December 2020. The net profit amounted to HK$6.015 billion, up 11.1% yearly.  EPS was HK119.14 cents. A final dividend of HK19 cents was declared against a dividend of HK16 cents in the corresponding period of the previous year.
DAHSING BANKING (02356.HK) announced annual result ended December 2020. The net profit amounted to HK$1.493 billion, down 33.3% yearly.  EPS was HK$1.06. A final dividend of HK$0.22 was declared.
DAH SING (00440.HK) announced annual result ended December 2020. The net profit amounted to HK$1.158 billion, down 32.2% yearly. EPS. was HK$3.62. A final dividend of HK$0.67 was declared.
TENCENT (00700.HK) CEO Pony Ma met with Chinese antitrust regulators this month and discussed compliance issues, Reuters learnt from people with direct knowledge.WeChat messaging and its payment mobile app, which are ubiquitous across China, may be the next in line for Beijing's hardline antitrust regulatory inquiries, said the insiders.
The Suez Canal in Egypt, a crucial sea-level waterway between Europe and Asia, was blocked after a container ship ran aground, reported Bloomberg.  Subsequently, at least a hundred vessels were stranded between the Red Sea and Mediterranean, including 42 vessels in the northbound convoy and 64 traveling southbound.
The Government received a written notice from Fosun Industrial Co., Limited this morning, highlighting the packaging problem on bottle caps of a batch of Comirnaty vaccines (batch number: 210102). To be cautious, the Government has suspended the inoculation of Comirnaty doses at once.  All community vaccination centers have paused the vaccination of Comirnaty shots immediately until further notice. There is no need for citizens with appointment for the jabs to visit vaccination centers starting from today.
TENCENT (00700.HK) announced that the company's WeSure and Tencent Cloud had inked a strategic agreement with Huatai Insurance for a thorough cooperation in risk management, tech innovation and scenario connection.  Pursuant to which, the parties aim for a symbiotic development of insurance, finance and Internet to propel digital transformation among financial institutions.
miHoYo's Genshin Impact has harvested more than US$1 billion in player spending in less than six months of official launch, Sensor Tower wrote in a report. Over the past 30 days, the mobile game ranked the third revenue generating title on both App Store and Google Play, closely preceded by TENCENT (00700.HK)'s PUBG Mobile and Honor of Kings.
Intel is striving to restore its reputation in chip manufacturing by building new plants and tapping into wafer OEM business, said CEO Pat Gelsinger.  The group plans to spend US$20 billion to build two factories in Arizona and to open more factories in the US, Europe and such other regions.
PRE MARKET HOURS NEWS
GEELY AUTO (00175.HK) plans to go public on Sci-tech Innovation Board in Shanghai, yet facing regulatory doubt on whether the company is "high-tech" enough for the stock exchange, Bloomberg citing sources.
AIA (01299.HK) is nearing a deal to acquire BANK OF E ASIA (00023.HK)'s life insurance department, Bloomberg citing sources.  The insurance giant is expected to be the potential buyer after beating out other competitors. The deal's valuation could reach US$600-700 million.
CitiBank and several other banks are providing mortgage rates as low as H+1.28% for premium clients who apply for loan sizes over $10 million, Hong Kong Economic Journal citing market sources. CitiBank replied that it is keeping its market quotation of mortgage rates unchanged at H+1.5%.
Macau scrapped the requirement to present a negative NAT certificate in order to enter a casino from early March, reported Macao Daily. Subsequently, visitor arrivals at SANDS CHINA LTD (01928.HK)'s hotels and entertainment venues burgeoned significantly over the past two weeks (particularly at weekends), ahead of the flow during Lunar New Year holiday, said President and Executive Director Wilfred Wong
In a CCTV interview, Tesla (TSLA.US) CEO Elon Musk expressed his optimism about China's economic development in the coming decade.   China will be the EV maker's biggest market in the long run, where Tesla will have to produce the most vehicles for, with the most customers, he added.
Linklogis, with TENCENT (00700.HK) being the largest shareholder, as well as STANCHART (02888.HK) and GIC being investors, has passed the listing hearing in Hong Kong, the market sources said.  The Chinese supply chain fintech solution provider is expected to start public offering as soon as this Friday (26 March), wooing over $8 billion, Hong Kong Economic Journal reported. Entry fee is $9,120.99 for one lot.
BILIBILI-SW (09626.HK) was over subscribed by over 170 times and froze more than $130 billion in capital, after initially recording 270,000 subscribers, Hong Kong Economic Journal learnt from market rumors.
TIMES CHINA (01233.HK) announced annual result ended December 2020. The net profit amounted to RMB4.941 billion, down 5.2% yearly. EPS was 254 fen. A final dividend of 76.68 fen was declared against a dividend of 84.45 fen in the same period of the previous year
CHALCO (02600.HK) announced the results for the year ended 31 December 2020. Net profit fell 13.1% yearly to RMB741 million with. EPS  of 2.8 fen. No final dividend was declared.
EVERSUNSHINE LS (01995.HK)  announced annual result ended December 2020. The net profit amounted to RMB390 million, up 74.4% yearly. EPS  was 24.26 fen. A final dividend of HK8.38 cents was declared, against HK4.79 cents in the same period of the previous year.
KUNLUN ENERGY (00135.HK) announced annual result ended December 2020. The net profit amounted to RMB6.063 billion, up 9.2% yearly.  EPS. was 70.02 fen. A final dividend of 21.01 fen and a special dividend of 213.66 fen were declared.
MINSHENG EDU (01569.HK) announced FY20 results that net profit was RMB131 million, down 61.5% yearly. EPS equaled 3.18 fen. Final. DPS was 0.9 fen.
CIMC ENRIC (03899.HK) announced annual result ended December 2020. The net profit amounted to RMB580 million, down 36.3% yearly.  EPS. was 29.3 fen. A final dividend of HK14 cents was declared, against HK20 cents in the same period of the previous year.

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