HSI -119pts (-0.5%) 24,280 HSCEI -48pts (-0.5%) 9,850 T/O HK$124.26bn (+22.2% DoD) Europe opened lower on Eurozone manufacturing and services PMI whilst weak showed activity contracted less dramatically. A number of minor markets closed for Ascension Day
US futures currently indicating lower Dow -127pts S&P and NDX also lower.
US 80 companies reporting today (for full list https://finance.yahoo.com/calendar/earnings/ )
Northbound RMB 24,392m Sell 11,116m : 13,274m Buy
Southbound HK$ 11,168m Sell 4,996m : 6,171m Buy
Northbound RMB 36,894m Sell 18,461m : 18,434m Buy
Southbound HK$ 9,982m Sell 5,523m : 4,459m Buy
Short Selling HSI Thursday 20.5% vs 20.1% Wednesday
Top Shorts Wharf REIC (1997) 45%, SHKP (16) 42%, Hang Seng Bank (11) 38%, Mengniu Dairy (2319) 35%, Want Want (151) 33%, Galaxy Ent (27) 32%, BoC HK (2388) 32%, CLP (2) 30%, NWD (17) 30%, Techtronic (669) 29%, ICBC (1398) 29%, Hengan (1044) 27%, CCB (939) 27%, BoC (3988) 27%, MTRC (66) 25%.
HONG KONG After Market
Inflation Rate Apr +1.9% vs +2.3% Mar (F/cast was +1.3%)
Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite (ie the underlying inflation rate) in April 2020 was 2.3%, smaller than that in March 2020 (2.6%), mainly due to the smaller increases in private housing rentals and the decreases in the fuel cost variation charge for towngas. Looking ahead, inflationary pressure is likely to ease further in the near term, said a Government spokesman. Centre for Health Protection said there were 8 new imported COVID-19 cases today.
RESULTS This Week: Thursday Parkson Retail (3368), Alibaba (9988).
Japan opened higher but drifted lower and traded sideways around flat Closed -0.21%
S Korea opened higher and traded sideways but in the green Kosdaq +1%, Kospi +0.4%
Taiwan opened higher and worked higher to test 11,000 in early trading but failed to break out, it consolidated lower but worked higher and retested late afternoon to Closed +0.9% at 11,0008
Centa Valuation Index (Major Banks) (CVI) last printed at 70.31 this week, up 3.52 pts weekly,
The index surpassed 70, up 30.86 pts in three weeks with a clear upturn. This reflected that second-hand deals had remained vibrant with more upbeat mortgage stance among banks, which foretold a resurgence of home prices after slide
CPPCC Chairman Wang Yang said at the Two Meetings today (21 May) in Beijing that the organization will hold on tight to ensure the smooth and long-term successful practice of the "one country, two systems" policy in the coming year, strengthen the political accountability and mission responsibility of officials in Hong Kong and Macau, and support adamantly the enhancement of systems and mechanisms related to the Constitution and Basic Law implemented in the Special Administrative Regions.
Hisense announced that it has entered into a strategic cooperative agreement with AliExpress, the B2C e-commerce platform of BABA-SW (9988.HK) , to expand their overseas online retailing markets through cooperation. Currently, Hisense and AliExpress have struck partnership in Russia, France and Spain.
SMIC (981.HK) clarification for a minute of its conversation with Taikang circulated on the internet, as well as relevant inaccurate reports. The chipmaker distanced itself from any one-on-one conversation with Taikang or relevant hosts as rumored online, for which it reserves the right to seek legal accountability.
China plans to pour over US$1 trillion into all infrastructure across wireless network to artificial intelligence as she is speeding up her efforts to overtake the US' leadership in key technologies, Bloomberg reported. Under the scheme backed by Chinese President Xi Jinping, Beijing will make around US$1.4-trillion investment by 2025.
EMPEROR INT'L (00163.HK)'s "Central 8" unveiled the first price list of 30 units, covering open studios with furniture and other types of flats measuring 181-311 sq.ft.each. The entry price was 5.2 million. Based on the maximum discount of 6%, the prices would be $4.89 million, with an average discounted price per sq.ft. of $29,820.MACAU under the tightened quarantine measures for arrivals in Macao in late March 2020, number of visitor arrivals in April tumbled by 99.7% year-on-year to 11,041; the figure also represented a month-to-month decline of 94.8%.
XIAOMI-W (1810.HK) Founder Lei Jun tabled four proposals at the National People's Congress (NPC), touching issues of satellite internet, disaster warning, perfection of financing services for small and micro enterprises, and the introduction of international high-level talents. One of the proposals is to integrate "satellite internet" industry into the 14th Five-year Plan of the PRC, making the commercial aerospace enterprises as the integral part national aerospace industry.
China Banking and Insurance Regulatory Commission (CBIRC) is launching a probe into BANK OF CHINA (3988.HK)'s "Crude Oil Bao" saga. CBIRC has recently sent officers to the bank and started a special investigation into the whole story, including product design, sales management, risk control, contingency mechanism, etc. of the product, as Chinese media learnt from regulators.
CALC (1848.HK)announced the official signing of a strategic cooperation agreement with Moutai Leasing and CCB (939.HK). The three parties will establish a close-knit cooperative partnership for the long term in the aviation industry chain, facilitating development of the aviation finance industry in China.
Baidu Chairman Robin Li submitted four proposals for the "Two Meetings" this year, involving new infrastructure, smart transport, continuing education support, and personal information protection, reported Shanghai Securities News. Particularly, Li suggested the construction of new A.I. infrastructure and drew up a blueprint for smart economy buildout. He believed China should speed up the establishment of world-leading A.I. infrastructure, while taking the lead in promoting open-source and in-depth learning platforms across various sectors.
TikTok-parent ByteDance’s valuation has risen to over US$100 billion in latest round of private equity transfer, people familiar with the matter were quoted as saying by Bloomberg.
Wuhan City published a notice regarding prohibition of consuming, hunting and trading wild animals for a term of five years. The municipal government said it will beef up the investigation in illegal wildlife-related activities at trading markets, restaurants, hotels, e-commerce platforms, food processing factories and so on.
SANDS CHINA LTD (1928.HK) said the company had thought about whether it should adjust the performance bonus and salary of its staff since the coronavirus outbreak, confessing every decision was hard to make, reported Macao Daily News. Yet his final decision was to hike wages by 2%-4.7% this year, with 99% employees to benefit from 1 March. was uninterrupted despite a quiet market, reported. The group was renovating The Londoner project, with a total investment of MOP17.5 bn for 2020-21 Regarding a YoY GGR slide in recent months, it compared SANDS CHINA LTD's operation to long-distance running, saying every participant (including the group) ought to be responsible for contributing their strength to Macau's continuous development..
WHEELOCK (20.HK) said that it had received a proposed privatization from the major shareholder Peter Woo. Relevant resolution will be made on 11-16 June, while the expected last day of trading in shares is scheduled on 18 June. The withdrawal of the listing of the shares will be effective on 27 July The market value in existing state attributable to the group aggregated $4.647 billion, according to its property valuation report.
WUXI BIO (2269.HK) Biologics Holdings, one of the controlling shareholders, entered into a block trade agreement with the placing agent to place 60 million shares (representing 4.61% of the issued share capital of the Company) held by Biologics Holdings at a price of HK$127.18 each, involving HK$7.63 billion.The placing price represented a 4.9% discount to WUXI BIO's closing price on Wednesday (20th).
CHINA TELCOS For 4M20, China's total revenue from telecom sector of RMB456.2 billion, +2.3% YoY, with the growth rate accelerating by 1.6 ppts yearly, according to the MIIT. At end-April, the total number of 4G users reached 1.273 billion, representing 80% of the total number of mobile users, sliding 0.2 ppts from the end-March. 4G users shifted to 5G more quickly, MIIT disclosed.
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