HSI -644pts (-2.2%) 29,236 HSCEI -341pts (-2.9%) 11,326 T/O HK$224.35bn (+23.1% DoD)
Markets opened lower following Asia and the US. FTSE trended lower until mid morning. Dax and Cac trading sideways. Weak data and rising US yields worrying the markets. Basic Resources weak along with most sectors but Utilities rebounding from yesterday into the green.
Lufthansa posted a smaller-than-expected net loss in the fourth quarter but saw a full-year loss of 6.7 billion-euro ($8.1 billion) in 2020. +VE
Unibail-Rodamco-Westfield shares +VE by late morning to lead the Stoxx 600.
Aviva +VE after results beat forecasts and sold out of its remaining businesses in Italy to focus on core markets,
Rio Tinto weak, after chairman Simon Thompson announced he would step down over the company’s destruction of a 46,000-year-old indigenous site in Western Australia.
ProSiebenSat.1 weak after the company projected single-digit revenue growth in 2021 despite a strong Q4
Retail Sales Jan -5.9% MoM vs -1.8% Dec revised (F/cast was -1.4%)
Retail Sales Jan -6.4% YoY vs -0.9% Dec revised (F/cast was -1.2%)
Unemployment Rate Jan 8.1% vs 8.1% Dec revised (F/cast was 8.4%)
Construction PMI Feb 45 vs 44.1 Jan (F/cast was 47)
Construction PMI Feb 41 vs 46.6 Jan (F/cast was 48)
Construction PMI Feb 44 vs 39.5 Jan (F/cast was 44.6)
Retail Sales Jan -9.9% MoM vs +20.6% Dec revised (F/cast was -17.9%)
Retail Sales Jan -4.4% YoY vs +7.8% Dec revised (F/cast was +1%)
New Car Sales Feb -35.5% YoY vs -39.5% Jan (F/cast was -32%)
Construction PMI Feb 53.3 vs 49.2 Jan (F/cast was 50.8)
Opened weak Asia, were weaker ahead of the European open and een weaker now; Dow -130pts, S&P -0.5% and NDX -0.6% with caution ahead in initial claims data although Challenger job cuts were less than expected.
After market Wednesday Total vehicle Salesian Feb were 15.7m vs 16.6m in Jan -VE Autos.
Challenger Job Cuts Feb 34.531k vs 79.552k Jan (F/cast was 73k)
Initial Claims, 4 week Average Claims, Continuing Claims, Factory Orders, EIA Natural Gas Stocks Change,
Earnings: Broadcom, Costco, BJ’s Wholesale, Gap, Burlington Stores, Ciena, Michael’s Cos, IMAX, Kroger, Cooper Cos
Earnings After market Wednesday
American Eagle Outfitters +7.2% (was 1.3% normal hours) on better-than-expected Q4 results. The retailer also said overall comparable sales declined just 1% as strong online sales mitigated mall closures.
Snowflake -0.8% (was -8.7% normal hours) after lackluster full-year revenue guidance.
Okta -10.6% (was -6.9% in normal hours) on news it's spending $6.5 billion to acquire rival Auth0. The deal is expected to close by July. News of the deal overshadowed Okta reporting better-than-expected earnings and revenue for the previous quarter.
Vroom -11.6% (was -8.3% in normal hours) as reported revenue missed Pre market Thursday BJ’s Wholesale and Kroger are among the names reporting before the open, After market expected Broadcom, Costco and Gap
CSI 300 closed -172pts (-3.2%) @ 5,281CSI 300 opened lower and trended lower through the morning to 5,284 before a small uptick into lunch. PM opened slightly higher but continued the downward trend to a low of 5,255 then saw an uptick to close
Weakness after the overnight rebound in bond yields (confirming signs in the recent PMI data) worried investors that higher inflation may prompt central banks to raise ultra--low interest rates. Investors also cautious ahead of the National People's Congress which might tighten of monetary and government stimulus. The liquidity-sensitive ChiNext
gauge of small caps fell 4.9% as China’s central bank drained money from the banking
system through open-market operations. Most sectors in the red with white liquor leading the declines. Petrochems outperformed. Foreigners sell net $1.1b via Stock Connect, the most since Sept. 24.
Shanghai Comp -73pts (-2%) @ 3,504
Shenzhen Comp -516pts (-3.5%) @ 14,416
ChiNext -146pts (-4.9%) @ 2,852
CHINA DATA No data
Pre market opened @ 29,525 -354pts vs -280pts ADR’s
Ecommerce weak along with most Chinese Financials but BoC HK +4% on GS TP upgrade.
Market traded sideways for the first 30 minutes but then followed China and trended lower hitting 29,102 at lunch. PM opened higher and traded sideways around 29,200 level all afternoon. Caution ahead of the NPC and CPPCC meetings seen in broad based weakness; E Commence leading the declines. Relative interest in HK Property & Financials
HONG KONG DATA
HK total port cargo throughput in Q4 2020 was -9.5% compared with the fourth quarter of 2019 to 61.3 million tonnes. Within this total, inward port cargo -11.9% @ 40.3 million tonnes and outward port cargo -4.6% @ 21.0 million tonnes compared with the fourth quarter of 2019
Centre for Health Protection said there 9 were new COVID-19 cases in Hong Kong today; (vs 14 Wednesday) with 1 from unknown sources.
SHORT SELLING Thursday 15.1% vs 16.6% Wednesday
Top Shorts: Ping An (2318) 41%, Bud Apac (1876) 38%, Citic (267) 34%, HSBC (5) 31%, Galaxy Ent (27) 31%, Hang Seng Bank (11) 31%, Bank of China (3988) 30%, Sinopec (386) 27%, Wharf REIC (1997) 26%, CCB (939) 25%.
Earnings due Thursday include CASH (510), Playmates Holdings (635), Tongda (698), Playmates Toys (869), China Hongqiao (1378)
AFTER MARKET NEWS
AUTOHOME-S (02518.HK)'s IPO registered approximately $2.32 billion margin as at around 6 pm according to five local brokers. Based on the public fundraising amount of approximately $762 million, the IPO was over-subscribed by over two times.
At CEB GREENTECH (01257.HK)'s annual results call conference, CEO Qian Xiaodong said the market will be loaded with expansion and development opportunities after China addresses the goal of carbon neutralization. Asked if the company will repurchase shares, Qian replied that they do not have relevant plans for now although the company is willing to explore how to boost its value.
WHARF REIC (01997.HK) chairman Stephen Ng mentioned about a retail sales turnaround from clients' perspective, with crowded scenes in Harbour City and Times Square before and after Lunar New Year. Ng stressed that promotion events will stay vibrant this year. On another note, he believed the occupancy rate of shopping malls would hinge on the pandemic. Assuming the epidemic is contained as soon as possible, tenants will have more confidence in the prospects and be more willing to open new stores or keep existing ones.
EASYKNIT INT'L (01218.HK) announced that it had through its subsidiary Ace Winner disposed on-market a total of 3.10 million ICBC (01398.HK) shares in a series of transactions conducted during the period from 24 February 2021 to 2 March 2021, involving $16.231 million. It also disposed on-market a total of 3.10 million CCB (00939.HK) shares in a series of transactions conducted during the same period, involving $19.635 million.
YUEXIU REIT (00405.HK) announced that the total distribution amount for the year ended 31 December 2020 declined 14.8% YoY to RMB649 million. A final distribution of around 9.99 fen (equivalent to around HK11.99 cents) per unit was declared, down 4.95% YoY in RMB terms but up 2.3% YoY in HKD terms. It expected its finance cost to have trimmed to 2.57% and saved a cost of around RMB55 million for the year, revealed Chairman and CEO Lin Deliang. He saw better acquisition opportunities in 2021 than a year ago, eyeing on policy change and keeping close tabs on investment chances in Hong Kong.
GRAND VICTORIA Phase II and III, a residential project located at Lai Ying Street in Southwest Kowloon and co-developed by Wheelock Properties, SINO LAND (00083.HK) -0.140 (-1.182%), K. WAH INT'L (00173.HK), SHIMAO GROUP (00813.HK) and SEA HOLDINGS (00251.HK) has issued the first price list, involving 108 units.Based on up to 20% discount, the sales prices range $6.416-22.0448 million.
Centa Valuation Index (Major Banks) (CVI) last stood at 72.27 this week, up 2.73 pts from the previous week. CVI rose 12.89 pts in three weeks and surpassed the 70 level, said the research department of Centaline Property. This signaled bankers' persistent upbeat stance on mortgage with heightened valuations. Wong projected the property market to pick up with an uptrend in home prices.
PING AN (02318.HK)'s affiliate OneConnect Financial Technology (OCFT.US) said it had nailed a cooperation MOU with Singapore Stock Exchange (SGX), whereby both parties will coordinate to build a ESG (environment, society and governance) platform, which is projected to launch in 1H21 and assist Singapore-listed companies in disclosing ESG information more standardly and conveniently.
*PETROCHEMS STABLE after oil jumped as US inventories saw a record drop. US. gasoline inventories fell by the most since 1990.CNOOC (883 HK -0.7%) PETROCH (857 HK +0.7%) SINOPEC (386 HK -0.2%)
*NON-FERROUS/BASE METALS MIXED some profit taking, while others focus on demand speculations due to economic recovery continue to support selective names. Also expectations Steel sector will be hit but more emission controls in the next 5 year plan. Comments from Jim Rogers also helping the sector ANGANG (347 HK +1.7%) CH RARE EARTH (769 HK -3.2%) MAANSHAN IRON (323 HK +2.6%) CHALCO (2600 HK -4.4%) JIANGXI COPPER (358 HK -8.7%).
*CLEAN-ENERGY WEAK after a draft plan by China's National Energy Administration, suggests that provinces would auction off grid capacity for new wind and solar projects, with at least one third of the contracts going to developers who were prepared to forego money owed to them by the govt. Shows how local governments are struggling and suggests more defaults could occur in the near future.LONGYUAN (916 HK -14%) GCLPOLY (3800 HK -8.4%) DATANG RENEW (1798 HK -14%) COMTAC SOLAR (712 HK -10%) GOLDWIND(2208 HK -12%).
*AUTOS WEAK after PCA expects China's February passenger vehicle sales to be 1.19m units, up about 2% YoY. Investors also turned cautious awaiting auto-related policies from the NPC meeting. GEELY (175 HK -5.7%) GREAT WALL (2333 HK -8.9%) BYD (1211 HK -8.1%) ZHONGSHENG (881 HK -4.1%) ZHENGTONG (1728 HK -2.4%).
*HK PROPERTY STRONG relatively on bargain-hunting, after CH EVERGRANDE (3333 HK -2.1%) agreed to pay HK$4.15b as land premium for its Wo Shang Wai project in Yuen Long, the highest in three years. The plot has a site area of 2.23m sq ft and a gross floor area of 893,032 sq ft, to offer 268 luxury houses. Also a -VE article in the FT on line 'Evergrande courts Hong Kong tycoons to rev up electric vehicle push'NWD (17 HK +0.4%) CKA (1113 HK +0.5%). *CHINA PROPERTY WEAK on concerns of possible policy curbs to prevent/deflate the bubble in the real estate markets, SUNAC (1918 HK -2.4%) CH JINMAO (817 HK -3% AGILE (3383 HK -2.2%) CR LAND (1109 HK -2.6%). SHIMAO SERVICES (873 HK +2.7%) Positive Profit alert expects 2020 net profit to increase 80% YoY.
*PHARMA/VACCINE WEAK as investors lock in recent gains; amid hefty valuations. SINOPHARM (1099 HK -2.3%) said its CNBG’s vaccine was effective in lab tests against the mutant virus strains identified so far, including those that first emerged in the U.K. and South Africa.CANSINO (6185 HK -9.5%) WUXI BIO (2269 HK -10%) FOSUN PHARM (2196 HK -4.4%).
*HK CONSUMERS WEAK after HK retail sales fell from a year earlier for a record 24th straight month in January. The 13.6% decline was worse than expectations of -11.7% and December's revised -13.3%. SASA (178 HK -2.1%) BONJOUR (653 HK -1%) LIFESTYLE (1212 HK -2%) LUK FOOK (590 HK -1.9%).
Closed -0.8% Announced Trade surplus of A$10.142 billion (about US$7.88 billion) vs 6.5 billion F/Cast
January retail sales +0.5% MoM on a seasonally adjusted basis, vs +0.6% F/cast
Nikkei opened lower at 29,200 level and traded sideways for the first hour before trending lower into lunch at 29,000. PM after the Consumer Confidence came out better than forecast the selling continued down to 28,700 level which was tested a few times before reversing and working back to the lunchtime level but found resistance and eased back to close -629pts (-2.1%) @ 28,939
Topix traded in a similar way to close -20pts (-1%) @ 1,885
Foreign Stock Investment Y-454.6b vs Y+93.5b prior revised from 94.1b
Foreign Bond investmentsY-1718b vs -1888.7bn prior revised from -1893b
Midday Consumer Confidence Feb 33.8 vs 29.6 Jan (F/cast is 30.8)
Pre market data; inflation rose more than forecast and Growth was slightly better but markets following the US sell off with Tech under pressure along with large caps.
Kosdaq opened lower and sold down to 920 level in the first 5 minutes then effectivel traded sideways dipping to 917 level around 1pm but then working better from there to close -5pts (-0.5%) @ 926
Kospi traded in a similar pattern to close -40pts (-1.3%) @ 3,044.
Foreign Exchange Reserves Feb $447.56b vs 442.73b ( F/cast was 449b)
Inflation Rate Feb +1.1% YoY vs +0.6% Jan (F/cast was +0.9%)
Inflation Rate Feb +0.5% MoM vs +0.8% Jan (F/cast was +0.3%)
GDP Growth Rate Final Q4 -1.2 YoY vs -1.1% Q3 (F/cast was -1.4%)
GDP Growth Rate Final Q4 +1.2 QoQ vs +2.1% Q3 (F/cast was +1.1%)
Opened lower following the lead from the US the trended lower through the morning to 15,840 around 12:30 before working higher to close -305pts (-19%) @ 15,906. Closing below 16k for the first time in a month and despite good local data and earnings as investors react to rising US yields.
CONNECT FLOWS (increased)
Northbound RMB 63,185m Sell 32,702m : 30,484m Buy
Southbound HK$ 26,864m Sell 14,160m : 12,703m Buy
Northbound RMB 68,725m Sell 36,938m : 31,787m Buy
Southbound HK$ 31,070m Sell 16,972m : 14,098m Buy
MEITUAN (03690.HK) - 8.7%
TENCENT (00700.HK) -4.6%
HKEX (00388.HK) -3%
BABA (09988.HK) -2.2%
PING AN (02318.HK) -0.7%
AIA (01299.HK) +0.6%
CCB (00939.HK) - 0.3%
HSI & HSCEI Constituents on Move:
WUXI BIO (02269.HK) -10.2%
JD HEALTH (06618.HK) -8.4%
HAIDILAO (06862.HK) -8.1%
ALI HEALTH (00241.HK) -7.7%
SUNNY OPTICAL (02382.HK) -6.8%
ANTA SPORTS (02020.HK) -6.1%
GEELY AUTO (00175.HK) -5.7%
TECHTRONIC IND (00669.HK) -5.2%
ENN ENERGY (02688.HK) -4.5%
NTES (09999.HK) -4.4%
JD (09618.HK) -4%
XIAOMI (01810.HK) -4%
SINO BIOPHARM (01177.HK) -3.6%
BUD APAC (01876.HK) -3.6%
HANSOH PHARMA (03692.HK) -3.2%
CHINA GAS HOLD (00384.HK) -3%
BOC HONG KONG (02388.HK) +2.5%, hitting new high
HSMI & HSSI Constituents on Move:XINYI SOLAR (00968.HK) -14.7%
CHINA LONGYUAN (00916.HK) -14.6%
CGN NEW ENERGY (01811.HK) -13.6%
JS GLOBAL LIFE (01691.HK) -13.4%
ZIJIN MINING (02899.HK) -13%
WEIMOB INC (02013.HK) -12.8%
COFCO JOYCOME (01610.HK) -12.4%
KINGSOFT (03888.HK) -2.3%
GOLDWIND (02208.HK) -12.1%
JXR (01951.HK) -12.1%
XD INC (02400.HK) -11.9%
XIABUXIABU (00520.HK) -11.8%
CBHB (09668.HK) -11.1%
REALORD GROUP (01196.HK) +11.1%, hitting new high
POWERLONG (01238.HK) +10.7%, hitting new high
FUYAO GLASS (03606.HK) -10.5%
AKESO (09926.HK) -10.4%
MING YUAN CLOUD (00909.HK) -10%
BOC AVIATION (02588.HK) +5.1%, hitting new high
YANZHOU COAL (01171.HK) +2.8%, hitting new high
MARKET HOURS NEWS
Foxconn Technology's Foxconn Industrial Internet plans to set up an industrial park to scale up its iPhone production line in the Zhoukou city of Henan province, reported Central News Agency.
Financial Secretary Paul Chan said he disagrees with US Heritage Foundation's remark that Hong Kong economic policies are controlled by Chinese government, adding the foundation attaches ideological and political stereotype to the city. Chan's rebuttal came after the foundation’s removal of Hong Kong and Macau from its annual Index of Economic Freedom, since both cities were deemed no different from Chinese ones
The fourth session of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC) started in Beijing at 3pm today. Chinese President Xi Jinping and other leaders attended the opening ceremony of the above session.
ByteDance is working on a mobile app like Clubhouse in China, sources familiar with the matter were quoted as saying by Reuters, and the project is at the beginning stage.
Gold and silver prices are going to bust peaks, said "Commodities King" Jim Rogers in an interview. History showed that people would buy gold and silver whenever they lose confidence in the government and money, he added. Rogers is interested in buying Chinese stocks, which are cheaper than shares in the US and most other stock markets, and China controls the epidemic far better than other countries.
The India wearables market reported shipment of 36.4 million units in 2020, a remarkable 144.3% YoY growth, making it the third largest market in the world, IDC wrote in a report.
At lunchtime PROSPERITY REIT (00808.HK) announced results for the year ended 31 December 2020. Income available for distribution was $273 million, down 0.7% yearly. 2H20 DPU was 8.92 cents. Full-year DPU was 17.91 cents, down 2% or 0.37 cents yearly and representing a distribution yield of 7.4%.
At lunchtime CEB GREENTECH (01257.HK) announced annual results ended December 2020. Net profit amounted to HK$1.503 billion, down 7.3% yearly. EPS equaled HK72.72 cents. Final DPS was HK7 cents, as compared with HK8 cents in the corresponding period of the previous year.
Chinese National Energy Administration wrote in a draft plan that the provincial-level energy authorities mounted a competitive allocation of wind and photovoltaic power projects for inclusion in the guaranteed grid-connected network, among which no less than one-third of the projects will be allocated to companies that have insufficient subsidies so as to compensate the guaranteed grid-connected qualifications, Bloomberg cited people familiar with the matter.
At lunchtime WHARF REIC (01997.HK) announced annual results ended December 2020. Underlying net profit slid 24% to $7.477 billion. Group loss attributable to equity shareholders was $7.854 billion, against $3.928 billion in a year ago's profit. LPS equaled $2.59. Second interim DPS was $0.69, in lieu of final dividend.
At lunchtime CITIC TELECOM (01883.HK) announced annual results ended December 2020. Net profit amounted to HK$1.023 billion, up 2.1% yearly. EPS equaled HK27.9 cents. Final DPS was HK16 cents, as compared with HK15 cents a year ago.
Global smart speaker sales hit a new record last year despite the pandemic, Strategy Analytics wrote in a report. FY20 sales crossed 150 million units, while 4Q20 shipment grew 4.3% to 58.2 million units.
Michael Wong, Secretary for Development, said land reclamation is the only feasible way to boost land supply. Kau Yi Chau reclamation project, now under tender, may take more than three years for research after tender results are hopefully available in mid-year, furthered Wong.
Among all grossing non-gaming apps worldwide, TikTok ranked top in February 2021 with over US$110 million in user spending, 1.9 times its revenue a year ago, Sensor Tower wrote in a report.
BABA-SW (09988.HK) reached an agreement to acquire HungryNaki, a Bangladeshi meal delivery service provider. The parties expected to announce the deal today (4 March).
XIAOMI-W (01810.HK) Chairman Lei Jun, also a Deputy to the National People’s Congress (NPC), said the Two Meetings this year will target for two directions - digital economy development and technological innovation. He has prepared to present three proposals at the Meetings - to further nudge the development of intelligent manufacturing, to help the elderly familiar with digital life, and to expedite the digitalization of county medical construction.
BYD COMPANY (01211.HK) announced that it had forged an annual cooperation framework agreement for pure electric bus with DB Regio Bus, a company of Germany's Deutsche Bahn. The order for the first batch of five 12-meter BYD pure electric buses will mark a milestone of first cooperation between two parties, said BYD COMPANY.
CHINA SOUTH AIR (01055.HK) revealed on the SSE E-Interaction platform that it has started the Covid vaccine transportation. These pharma cold-chain products come with high supply chain complexity and even higher requirements of air freight companies. It is the first airline to be awarded IATA CEIV Pharma Certification and a ground handling license in China.
Google announced the plan to stop selling ads based on users' browsing records, in attempt to step up the privacy protection and reform. Its owner Alphabet (GOOG.US) will stop using and investing in technologies that track Chrome browsers' history next year.
Chipmakers in Texas need time to reboot production next few weeks hot on the heel of a recent winter storm, said Edward Latson, CEO of the Austin Regional Manufacturers Association. The process to restart tools and to clean the factories was slow and “very expensive”, explained Latson.
WUXI BIO (02269.HK) announced that its Wuxi drug substance facility (MFG4) had passed the remote Pre-Approval Inspection (PAI) by the European Medicines Agency (EMA). The five-day remote inspection mainly covered the production of an innovative biologics product for WUXI BIO's global partner.
TENCENT (00700.HK) will, at the request of China's Ministry of Science and Technology, take on the responsibility for the construction of National Open Innovation Platform for Next Generation Artificial Intelligence in the medical imaging field. Accordingly, the giant aims for earlier detection of diseases by combining A.I. technology with medical imaging.
FTSE Russell announced that it will add JD HEALTH (06618.HK), Haier Smart Home (600690.SH) and SHENZHOU INTL (02313.HK) to FTSE China 50 Index, while deleting CHINA OVERSEAS (00688.HK), CITIC (00267.HK) and HTSC (601688.SH), effective 19 March.
PRE MARKET HOURS NEWS
GRAND VICTORIA Phase II and III, a residential project located at Lai Ying Street in Southwest Kowloon and co-developed by Wheelock Properties, SINO LAND (00083.HK) -0.140 (-1.182%), K. WAH INT'L (00173.HK), SHIMAO GROUP (00813.HK) and SEA HOLDINGS (00251.HK) has obtained the pre-sale consent, supplying 525 flats and 388 flats respectively. The arrangement for Phase II and III will be subject to further discussion after the launch of Phase I, said the developers.
Las Vegas Sands Corp, parent of SANDS CHINA LTD (01928.HK) will sell its Las Vegas properties at US$6.25 billion (approximately HK$48.482 billion), and will turn to focus on Asian business, foreign media reported. The deal demonstrated the group's reinvestment strategy in Asia, with limelight on Macau and Singapore markets, said Las Vegas Sands Corp.
STANCHART (02888.HK) announced that it had on 3 March 2021 repurchased an aggregate of 1.7037 million ordinary shares at GBP8.5015 million (roughly HKD91.88 million).
The Government announced that under the COVID-19 Vaccination Program, as of 8pm on March 3, a total of about 11,700 persons received their first dose of the Sinovac vaccine in the past 24 hour. Since February 22, a cumulative total of about 51,800 persons have received their first dose of the Sinovac vaccine. From 9am to 8pm yesterday, a total of about 91,200 persons had reserved their first and second doses of the Comirnaty vaccine online.
SINOPHARM (01099.HK) Chairman said the group's CNBG has launched the large-scale production of its inactivated COVID-19 vaccine, with a production capacity of over 1 billion doses this year, as cited by Xinhua. The drugmaker anticipated the annual capacity to hit 3 billion shots in the future under persistent ramp-up.
Shanghai, Commission of Housing and Urban-Rural Development, Planning and Land Resources Administration and Bureau of Housing Security and Management jointly issued a notice, specifying to implement sales restriction policy on some residential properties. Under which, residents in Shanghai are only permitted to transfer their properties after five years of purchase contracts if they buy new commodity housing pursuant to priority purchase policy. -VE for developers
China Passenger Car Association (CPCA) said China's PV retail sales volume
reached 3.35 million units for the first two months of 2021, growing by roughly 71% from that in the first two months of 2020.
TENCENT (00700.HK) Chairman and CEO Pony Ma Huateng, also being a Deputy to the National People’s Congress (NPC), proposed at the 2021 Two Meetings that China should start innovation trial, participated by the market and guided by the government, in arenas of internet education, internet healthcare and financial technology, Securities Times reported. He explained China has developed a digital economy module different from the US and Europe, building up relative advantages in various fields and segments.
FTSE Russell announced the annual review changes to FTSE China A50 Index, FTSE China A150 Index, FTSE China A200 Index, FTSE China A400 Index and FTSE China A Small Cap Index. FTSE China A50 Index will include Sany Heavy Industry (600031.SH), Zijin Mining (601899.SH) and HLSH (600346.SH), while excluding CMBC (600016.SH), CSCEC (601668.SH) and CEB BANK (601818.SH)
MMG (01208.HK) announced the results for the year ended 31 December 2020. The loss narrowed to US$64.7 million from US$230 million in a year ago, with LPS of US0.8 cents. No dividend was declared.
CHINA VANKE (02202.HK) announced that the contracted sales achieved in February 2021 amounted to RMB45.16 billion, up 61.1% yearly.
SMIC (00981.HK) announced that during the twelve months ended 2 March 2021, it had under ASML Volume Purchase Agreement acquired machinery used in the manufacturing of wafers from ASML Shanghai, at an aggregate consideration of US$1.202 billion.
TECHTRONIC IND (00669.HK) results for the year ended December 31, 2020. Net profit burgeoned 30.2% yearly to US$801 million with EPS of US43.8 cents. A final dividend of HK82 cents per share was declared. This payment, together with the interim dividend, makes a total payment of HK135 cents per share for 2020.