We expect Hang Seng Index to test 27,000 in the worst scenario. Market Overview. Hang Seng Index Performance
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- Lewis Garrison
- 5 years ago
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1 17 August 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Cha nge Hong Kong Close 1- Da y 1- Mth 6 - Mth 12 - Mth Hang Seng Index 27, % - 3.8% % - 0.9% HSCEI (H- Shares) 10, % - 1.1% % - 3.0% Mkt T/O ($ Mn) 124, % 77.8% 61.9% 52.3% Ove rse a DJIA 25, % 1.7% 1.3% 17.5% NASDAQ 7, % - 0.6% 7.8% 25.5% Shanghai SE Composite 2, % - 3.3% % % Shenzhen Component 8, % - 8.5% % % Commoditie s a nd FX Crude Oil Futures (US$) % - 4.0% 5.9% 38.7% Gold Futures (US$) 1, % - 4.3% % - 8.9% Baltic Dry Index 1, % 0.3% 59.3% 38.5% USD / Euro % - 2.4% - 8.4% - 3.2% Yen / USD % 1.8% - 3.9% - 1.0% CNH / USD % - 2.1% - 8.2% - 2.8% Market Overview Hang Seng Index closed down 0.8 % at 27,100. HSCEI dropped 0.5%. Heavily weighted Tencent (700), AIA Group (1299) and HSBC (5) lost 3.0%, 1.9% and 0.9% respectively. Technology, oil and cement stocks underperformed the market. Anhui Conch (914) tumbled 2.3%. Sinopec (386) and CNOOC (883) retreated 1.9%-2.3%. Sunny Optical (2382) and AAC Technologies (2018) fell 0.9%-1.4%. Banking and railway related stocks ended lower. Nine banking stocks in HSCEI had an average decrease of 0.7%, among which ABC (1288) and Postal Savings Bank (1658) lost 1.3%-1.6%. CCCC (1800) and CRRC Corp (1766) declined 1.1%-1.8%. Consumption, HK Property, insurance, securities, telecom, automobile and pharmaceutical stocks were mixed. WH Group (288) tumbled 7.5% making it the worst performing stock in HSI. Mengniu Dairy (2319) and Hengan Int l (1044) rose 1.6%-2.2%. CPIC (2601) fell 1.3%. New China Life (1336) and PICC P&C (2328) increased 1.7%-2.0%. HTSC (6886) dropped 0.7% while China Galaxy Securities (6881) grew 1.3%. SHK Properties (16) cut 0.7% while Swire Pacific (19) increased 1.5%. China Unicom (762) decreased 1.3% while China Mobile (941) advanced 1.5%. Guangzhou Automobile (175) shrank 2.6% while BYD Co (1211) increased 1.3%. Gaming, PRC Property and airline stocks ended higher. Air China (753) elevated 2.4%. Except for Longfor Group (960) cutting 0.7%, other nine largest Chinese property developers grew an average 2.9% among which China Evergrande (3333) and Logan Property (3380) jumped 7.6%- 7.8%. Sands China (1928) and Galaxy Entertainment (27) lifted 2.7% and 0.9% respectively. We expect Hang Seng Index to test 27,000 in the worst scenario. We expect Hang Seng Index to test 27,000 in the worst scenario.
2 Market in Focus China Everbright Greentech MKT Cap ($Bn) 16.0 Bloomberg Ticker 1257 HK Equity 52-week High/Low ($) Rating BUY Free Float (%) 26.4% Target Price $9.60 3M Avg Turnover ($, Mn) 25.5 China Everbright Greentech (1257): Solid 1H18 results, reiterate BUY Since our BUY commentary dated 22 Jun 2018, China Everbright Greentech (1257, $7.73, CEG) s share price has dropped by 1.8% compared with a loss of 7.5% for Hang Seng Index over the same period. China Everbright Greentech, listed on the Hong Kong Stock Exchange in May 2017, is a leading environmental protection service provider in China. CEG focuses on biomass treatment, hazardous waste and wind/solar power. CEG is the largest biomass power operator in East China and in top five in China in terms of designed capacity. According to Frost & Sullivan, China biomass power operating capacity is expected to reach 13,442MW in 2020, growing at a CAGR of 19% from We expect CEG revenue growth to outperform industry growth given its strong pipeline and potential project wins supported by China Everbright International (257) which holds 69.7% of CEG s stake. On August 8, the company announced a solid earnings results for the first half of For the first half of 2018, CEG s revenue surged 54.0% yoy to HKD3,152.9mn. Revenue from (i) Integrated biomass utilisation project, (ii) hazardous waste treatment project and (iii) solar energy and wind power projects and others grew approximately 47.6%, 139.3% and 18.3% yoy to HKD2,610.8mn, HKD396.8mn and HKD133.0mn respectively accounting for 82.8%, 12.6% and 4.6% of total revenue. Segment profit amounted to HKD682.4mn in 1H18, the abovementioned sectors grew approximately 36.1%, 56.8% and 26.6% respectively to HKD466.1mn, HKD142.3mn and 74.1mn. Overall net margin dropped from 22.3% in 1H17 to 20.4% in 1H18, mainly due to a 74% yoy surge on finance costs and higher contributions from hazardous waste treatment project construction which had lower margins than other segments and dragged down the overall net margins in 1H18. As at 30 June 2018, CEG s net debt amounted to HKD HKD2,259mn with approximately 24% net debt to equity ratio. We believe the relatively low gearing provides CEG sufficient rooms for future expansion. We remain our bullish views on CEG given on promising industry growth, its strong project pipeline and supports from China Everbright International (257). Fig1: 1 Year Share Price Source: Bloomberg, Mason Securities According to Bloomberg estimates, CEG s earnings are expected to reach $1.35bn in 2018 and $1.72bn in 2019 (EPS $0.66 and $0.84), up 27.9% and 27.5% yoy respectively. NAV per share is expected to reach $4.80 and $5.45 in 2018 and Traded at 2018/19 P/E of 11.7x/9.2x and P/B of 1.62x/1.42x with EPS growth of more than 20% in next 3 years, we believe the current price of CEG is still attractive given the robust market growth. We maintain our BUY rating on CEG with 6- month price target of $9.6 based on 2018 P/B of 2.0x.
3 Technical Ideas Stock Code Rating / Last Closing Price Our TP / Bloomberg TP Cut Loss China Mobile 941 HK Equity BUY $72.50 $79.75 $86.65 $68.88 MKT Cap ($Bn) / Free Float Turnover / 30D Avg ($Mn) Turnover vs 5D & 30D Avg Forward PER / PBR Net Debt (Cash) / Equity 1, % 2,399 1, % 221% 11.4X 1.26X -47% Technical Indicator SMA RSI (14) 58.8 SMA BB (Upper) SMA BB (Lower) Stock Code Rating / Last Closing Price Our TP / Bloomberg TP Cut Loss China Communications Services 552 HK Equity BUY $5.74 $6.31 $6.02 $5.45 MKT Cap ($Bn) / Free Float Turnover / 30D Avg ($Mn) Turnover vs 5D & 30D Avg Forward PER / PBR Net Debt (Cash) / Equity % % 433% 11.8X 1.16X -49% Technical Indicator SMA RSI (14) 61.5 SMA BB (Upper) 5.37 SMA BB (Lower) 4.81 Source: Bloomberg, Mason Securities
4 Recent Recommendations Date of Issue Stock Pick Recommendation Highlights Rating (TP) 3/8/2018 CRG (1193) China Resources Gas (1193): Downside risks driven by China economy and industrial activities slowdown in 2H18 ; Downgrade to HOLD Valuation does not fully factor in downside risks driven by China economy and industrial activities slowdown and property floor space completion decline The factors mentioned above will pose a negative impact on CRG and limit upside risks in 2H18 Share price weakness presents a good buying opportunity Maintain BUY China Maple Leaf (1317) HOLD ($38.9) 6/8/2018 China Maple Leaf (1317) 7/8/2018 CRP (836) 8/8/2018 CSCI (3311) 9/8/2018 Suntien Green Energy (956) China Overseas 10/8/2018 Property (956) 13/8/2018 CTCM (570) 14/8/2018 A-Living Services (3319) 15/8/2018 Dali Foods (3799) 16/8/2018 Anta Sports (2020) We reiterate our BUY rating on MLES given its good earnings track record and continued expansion through acquisition We are optimistic about the private education industry in China and believe current valuation of MLES is attractive to long term investors China Resources Power (836): Defensive player with fundamental turnaround this year; Maintain Buy Thermal coal prices have already peaked out Valuation of CRP remains attractive to long term investors in our view given its stable dividend, lower coal price in 2018 and good track record of management and execution ability Robust new contract value growth for 1H18 Maintain BUY China State Construction (3311) Outperformance of CSCI is mainly driven by speculation on the increase in China s infrastructure investments in the second half of 2018 and company s robust growth in new contract value in the first half of 2018 CSCI looks cheap compared with its historical valuation at 5-year average forward P/E of 10.4x China Suntien Green Energy (956): Solid growth in coming years; reiterate BUY Tariff cut overhang is removed Traded at 2019 P/E of 5.48x and 2019 P/B of 0.72x with a ROE of >13%, valuation of Suntien is still undervalued in our view Room for further expansion through acquisition Maintain BUY China Overseas Property (2669) We remain optimistic about the growth prospects of COPH given strong support from parent company and ongoing industry consolidation Thanks to the acquisition of CITIC Property Service, the GFA under management of COPH increased by 37.3% in 2017 to 128.3mn sq.m. China Traditional Chinese Medicine (570): Bullish on the industry growth, Maintain BUY We believe CTCM will benefit from 1) solid industry development; 2) channel expansion in highto-low tier hospitals; 3) the increasing penetration rate of TCM granules due to consumption upgrade more and more provinces including TCM granules in medical insurance in the future Better than expected interim earnings results Maintain BUY on A-Living Services (3319) The company announced better-than-expected earnings results for the first half of 2018 As at 30 June 2018, ALS had net cash of RMB4.17bn providing sufficient funds for future acquisition and expansion Dali Foods (3799): Share price is expected to react positively to solid interim results In short-term, we expect Dali to deliver solid revenue and net profit growth in upcoming interim results (+ve low double digit growth) and the share price should react positively to the solid interim results Anta Sports (2020) posted better than expected interim results Maintain BUY The share price correction is sentiment driven while the fundamentals of the company remain intact evidenced by better-than-expected interim results Strong financial position provides room for further expansion through acquisition BUY ($7.10) BUY ($17.5) BUY ($10.5) BUY ($2.80) BUY ($3.20) BUY ($8.20) BUY ($18.0) BUY ($8.5) BUY ($48.0)
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HOLD Based on a current 12-month view of total shareholder return, we expect the return to range between +10% to -10%. SELL Based on a current 12-month view of total shareholder return we expect a negative return of over 10%. Research Team Contact Research Team, Mason Securities Limited, Portion 1, 12/F, The Center, 99 Queen s Road Central, Hong Kong Tel: (+852) research@masonhk.com
We expect Hang Seng Index to test 27,000 in the worst scenario. Market Overview. Hang Seng Index Performance
16 August 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 27,323.59-1.5% -4.3% -12.2% -0.3% HSCEI (H-Shares)
More informationWe expect Hang Seng Index to test 27,000 in the worst scenario. Market Overview. Hang Seng Index Performance
27 August 2018 Hang Seng Index Performance Major Market Indicators % Cha nge Hong Kong Close 1- Da y 1- Mth 6 - Mth 12 - Mth Hang Seng Index 27,671.87-0.4% - 3.9% - 11.5% - 0.6% HSCEI (H- Shares) 10,779.71-0.3%
More informationHang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Oversea Commodities and FX Market Overview
4 September 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 27,712.54-0.6% 0.1% -9.4% -0.1% HSCEI (H-Shares)
More informationWe expect Hang Seng Index to test 27,000 in the worst scenario. Market Overview. Hang Seng Index Performance
28 August 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Cha nge Hong Kong Close 1- Da y 1- Mth 6 - Mth 12 - Mth Hang Seng Index 28,271.27 2.2% - 1.9% - 8.3% 1.5% HSCEI (H-
More informationWe expect Hang Seng Index to have a technical support at 24,000. Market Overview
30 October 2018 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 24,812.04 0.4% -10.7% -19.5% -12.4% HSCEI (H-Shares) 10,012.63-0.5%
More informationWe expect Hang Seng Index to hover between 27,000 and 28,800 but the risk is on the upside. Market Overview. Hang Seng Index Performance
3 October 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 27,126.38-2.4% -2.7% -9.9% -1.6% HSCEI (H-Shares)
More informationWe expect Hang Seng Index to encounter technical resistance at 28,700. Market Overview. Hang Seng Index Performance
29 August 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,351.62 0.3% -1.6% -8.1% 2.1% HSCEI (H-Shares) 11,097.59
More informationWe expect Hang Seng Index to maintain a technical rebound in near term. Market Overview. `Hang Seng Index Performance
24 October 2018 `Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 25,346.55-3.1% -7.8% -17.3% -10.0% HSCEI (H-Shares) 10,234.90-2.4%
More informationWe believe Hang Seng Index will continue to rebound in near term. Hang Seng Index Performance
26 July 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,920.90 0.9% 0.1% -12.8% 7.3% HSCEI (H-Shares) 11,074.16
More informationWe expect Hang Seng Index to be highly volatile in the short term. Market Overview
8 November 2018 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 26,147.69 0.1% -0.2% -14.0% -9.5% HSCEI (H-Shares) 10,641.48 0.1% 2.4%
More informationWe take a neutral view on Hang Seng Index this month with a trading range of 26,000-28,000. Market Overview. Hang Seng Index Performance
10 October 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 26,172.91-0.1% -1.7% -14.8% -8.1% HSCEI (H-Shares)
More informationWe believe further upside for Hang Seng Index will be limited in near term. Market Overview. 17 November 2017
17 November 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 29,018.76 0.58 1.12 14.73 30.35 HSCEI (H-Shares) 11,533.96 1.06-0.30
More informationWe expect Hang Seng Index to make a technical rebound in near term. Market Overview. Hang Seng Index Performance
19 October 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 25,454.55 0.0% -7.1% -17.1% -9.6% HSCEI (H-Shares)
More informationWe expect Hang Seng Index to have a technical support at 24,000. Market Overview. Hang Seng Index Performance
26 October 2018 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 24,994.46-1.0% -10.1% -16.7% -11.4% HSCEI (H-Shares) 10,176.56-0.5%
More informationWe expect Hang Seng Index to move within the range of 29,500 and 31,500 in near term. Hang Seng Index Performance
21 June 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 29,696.17 0.8% -4.9% 1.1% 15.6% HSCEI (H-Shares) 11,505.74
More informationWe take a neutral view on Hang Seng Index this month with a trading range of 26,000-28,000. Market Overview. Hang Seng Index Performance
9 October 2018 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 26,202.57-1.4% -2.9% -13.3% -7.5% HSCEI (H-Shares) 10,393.29-1.3% -1.6%
More informationWe expect Hang Seng Index to move within the range of 29,000 and 31,000 in near term. Hang Seng Index Performance
11 May 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Cha nge Hong Kong Close 1- Da y 1- Mth 6 - Mth 12 - Mth Hang Seng Index 30,809.22 0.9% - 0.3% 5.8% 22.6% HSCEI (H- Shares)
More informationWe believe Hang Seng Index may test 27,000 this month in the worst scenario. Hang Seng Index Performance
9 July 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Cha nge Hong Kong Close 1- Da y 1- Mth 6 - Mth 12 - Mth Hang Seng Index 28,315.62 0.5% - 8.5% - 8.7% 11.7% HSCEI (H-
More informationWe expect Hang Seng Index to make a technical rebound in near term. Market Overview. Hang Seng Index Performance
15 October 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 25,266.37-3.5% -4.1% -18.0% -11.2% HSCEI (H-Shares)
More informationWe expect Hang Seng Index to move within the range of 29,500 and 31,500 in near term. Hang Seng Index Performance
25 May 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Cha nge Hong Kong Close 1- Da y 1- Mth 6 - Mth 12 - Mth Hang Seng Index 30,760.41 0.3% 1.4% 3.0% 20.0% HSCEI (H- Shares)
More informationHang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Oversea Commodities and FX Market Overview
22 January 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 32,254.89 0.4% 9.1% 20.8% 40.9% HSCEI (H-Shares)
More informationWe expect to see a technical rebound in Hang Seng Index in near term. Hang Seng Index Performance
4 July 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,545.57-1.4% -7.9% -7.1% 12.4% HSCEI (H-Shares) 10,872.20-1.8%
More informationWe expect Hang Seng Index to move within the range of 29,500 and. 31,500 in near term. Hang Seng Index Performance
4 June 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Cha nge Hong Kong Close 1- Da y 1- Mth 6 - Mth 12 - Mth Hang Seng Index 30,492.91 0.1% 1.9% 4.6% 17.6% HSCEI (H- Shares)
More informationWe expect Hang Seng Index to be highly volatile in the short term. Market Overview
28 November Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 26,331.96-0.2% 6.5% -14.5% -11.3% HSCEI (H-Shares) 10,515.30-0.1% 4.5%
More informationWe expect Hang Seng Index to be highly volatile in the short term. Market Overview. Hang Seng Index Performance
20 November Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 26,372.00 0.7% 3.2% -15.1% -9.9% HSCEI (H-Shares) 10,631.66 0.5% 4.0% -13.9%
More informationWe believe further upside for Hang Seng Index will be limited in near term. Market Overview. 05 December 2017
05 December 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 29,138.28 0.22 1.87 12.66 29.47 HSCEI (H-Shares) 11,518.07 0.60-0.73
More informationWe believe further upside for Hang Seng Index will be limited in near term. Market Overview. 22 November 2017
22 November 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 29,818.07 1.91 4.67 17.43 31.48 HSCEI (H-Shares) 11,874.37 2.91 2.73
More informationWe expect Chinese financial stocks to outperform the market in near term. Market Overview. 30 October 2017
30 October 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,438.85 0.84 3.21 15.53 23.89 HSCEI (H-Shares) 11,643.57 1.72 6.72
More informationWe believe further upside for Hang Seng Index will be limited in near term. Market Overview. 24 November 2017
24 November 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 29,707.94-0.99 5.52 16.83 31.40 HSCEI (H-Shares) 11,737.06-1.85 2.91
More informationWe expect Hang Seng Index to make a technical rebound in near term. Hang Seng Index Performance
27 June 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Cha nge Hong Kong Close 1- Da y 1- Mth 6 - Mth 12 - Mth Hang Seng Index 28,881.40-0.3% - 5.6% - 2.4% 11.8% HSCEI (H-
More informationMajor Market Indicators
11 th October, 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,490.83 0.58 1.92 18.28 20.98 HSCEI (H-Shares) 11,418.76 0.29
More informationMajor Market Indicators
9 th October, 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,458.04 0.28 2.85 17.27 19.31 HSCEI (H-Shares) 11,459.09 0.54
More informationMajor Market Indicators
4 th October, 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,173.21 2.25 1.56 16.12 18.93 HSCEI (H-Shares) 11,305.38 3.62
More informationMarket Outlook. Expect Hang Seng Index to test 28,000 in August led by H shares. Overweight Chinese banks with ICBC and CCB as top picks
2 nd Aug, 2017 Market Outlook Eric Yuen ericyuen@masonhk.com GDP growth in U.S. and eurozone improved in 2Q17 compared with the previous quarter. GDP growth in China stood at 6.9% yoy in both 1Q17 and
More informationMarket Outlook. Expect Hang Seng Index to move within 23,500-25,000 but the risk is on the downside
4 th May, 2017 Market Outlook Eric Yuen ericyuen@masonhk.com Hang Seng Index climbed for four straight months with a cumulative gain of 11.9% in the first four months of the year. The rally in April is
More informationFurther upside for Hang Seng Index is limited given relatively high P/E valuation and weakness in A share markets. Market Outlook.
28 th Apr, 2017 Hang Seng Index Performance Index Performance Abs chg % Change Hong Kong Close 1-Day 1-Day 1-Mth 3-Mth Hang Seng Index 24,698.48 120.05 0.49 1.45 5.73 HSCI 3,376.02 5.36 0.16 1.13 6.19
More informationMajor Market Indicators
10 th October, 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,326.59-0.46 2.38 16.75 18.76 HSCEI (H-Shares) 11,385.38-0.64
More informationMajor Market Indicators
13 th September, 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 27,972.24 0.06 4.05 17.38 20.49 HSCEI (H-Shares) 11,242.06 0.19
More informationMajor Market Indicators
19 th September, 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,159.77 1.27 4.11 15.84 19.57 HSCEI (H-Shares) 11,195.98 1.16
More informationMarket Outlook. Forecast a trading range of 21,300-22,800 for HSI but the risk is on the downside. Overweight HK and China property stocks
4 th Aug, 2016 Market Outlook Eric Yuen ericyuen@masonsec.com After a strong run in July, Hang Seng Index is presently trading at historical PER of 10.9x compared to 1-year, 3-year and 5-year average of
More informationWe take a neutral view on Hang Seng Index this month with a trading range of 25,000-26,500. Market Outlook. Index Performance
9 th June, 2017 Hang Seng Index Performance Index Performance Abs chg % Change Hong Kong Close 1-Day 1-Day 1-Mth 3-Mth Hang Seng Index 26,063.06 88.90 0.34 4.72 10.90 HSCI 3,549.64 16.24 0.46 4.62 9.86
More informationWe take a neutral view on Hang Seng Index this month with a trading range of 25,000-26,500. Market Outlook. Index Performance
12 th June, 2017 Hang Seng Index Performance Index Performance Abs chg % Change Hong Kong Close 1-Day 1-Day 1-Mth 3-Mth Hang Seng Index 26,030.29-32.77-0.13 3.47 10.44 HSCI 3,540.11-9.53-0.27 3.45 9.33
More informationWe take a neutral view on Hang Seng Index this month with a trading range of 25,000-26,500. Market Outlook. Index Performance
6 th June, 2017 Hang Seng Index Performance Index Performance Abs chg % Change Hong Kong Close 1-Day 1-Day 1-Mth 3-Mth Hang Seng Index 25,862.99-61.06-0.24 5.67 9.61 HSCI 3,517.68-4.15-0.12 5.46 8.59 HSCCI
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19 th October, 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 28,711.76 0.05 2.35 20.51 23.20 HSCEI (H-Shares) 11,621.95 0.46
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More informationWe expect Hang Seng Index to move between 19,000 and 20,500 in March but the risk is on the upside. Hang Seng Index Performance.
14 th March, 2016 Hang Seng Index Performance Index Performance Abs chg % Change Hong Kong Close 1-Day 1-Day 1-Mth 3-Mth Hang Seng Index 20,199.60 215.18 1.08 10.26-5.21 HSCI 2,748.54 34.42 1.27 10.83-6.28
More informationWe believe further upside for the Hang Seng Index is limited and recommend short-term investors to take profit. Hang Seng Index Performance
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More informationInvestment Daily. Market Overview. 20 June The Hang Seng Index is expected to trade at 25,800 to 26,100 today. Technical Analysis
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More informationWe expect Hang Seng Index to trade range between 18,000 and 20,000 in March. Hang Seng Index Performance. Index Performance.
1 st March, 2016 Hang Seng Index Performance Index Performance Abs chg % Change Hong Kong Close 1-Day 1-Day 1-Mth 3-Mth Hang Seng Index 19,111.93-252.22-1.30-2.47-14.61 HSCI 2,597.82-32.20-1.22-2.17-15.63
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More informationWe expect Hang Seng Index to decline in near term due to profit taking with a technical support at 20,800. Hang Seng Index Performance
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More informationWith limited upside ahead, we suggest investors to start taking profit above 21,500. Hang Seng Index Performance. Index Performance.
26 th July, 2016 Hang Seng Index Performance Index Performance Abs chg % Change Hong Kong Close 1-Day 1-Day 1-Mth 3-Mth Hang Seng Index 21,993.44 29.17 0.13 8.56 2.74 HSCI 2,958.28 3.88 0.13 7.65 1.75
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13 th May, 2016 Hang Seng Index Performance Index Performance Abs chg % Change Hong Kong Close 1-Day 1-Day 1-Mth 3-Mth Hang Seng Index 19,915.46-139.83-0.70-5.88 8.71 HSCI 2,723.35-17.15-0.63-6.23 9.81
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More informationThe Hang Seng Index is expected to trade at 18,900 to 19,300 today
IINVEESSTTMEENTT DAIILLY 4 Feb rrua rry 2016 Major Market Indicators 3 Feb 2 Feb 1 Feb Mkt. Turn.(mn) 78,700 69,600 69,500 Stock Advances 331 857 656 Stock Declines 1,246 692 902 HSI 18,991 19,446 19,595
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