According
to the results of CCB (601939.SH/00939.HK), the bank recorded a net
profit of RMB190.685 billion in as at the end of 30 September 2014, up
7.81% from a year ago. The balance of non-performing loans totaled
RMB105.32 billion, and the NPL ratio was 1.13%, up 0.14% from the end of
last year. Industry insiders considered that with the issues of
overcapacity and economic restructuring, banks' asset quality has been
under pressure so far this year, and the whole sector's non-performing
loans are expected to keep rising at the end of the year.
Shanghai Pechem (00338.HK) Trading Sell Last price: HK$2.43 Resistance: HK$2.60 Support: HK$2.27/2.13 Shanghai Pechem closed lower at HK$2.43 in a long dark candle yesterday, short of the 0.38x retracement level at HK$2.41. Given that the Slow Stochastics has breached the previous low and the MACD is under the centreline, the stock is likely to test the 0.5x retracement level at HK$2.27. If the stock breaches this support, it will then test the 0.62x retracement level of HK$2.13. Expected Timeframe: 2 weeks to 2 months Wisdom Group (01661.HK) Trading Sell Last price: HK$5.47 Resistance: HK$5.65 Support: HK$5.22/4.96 Wisdom Group gapped down to re-enter the moving average envelope yesterday on strong volume. With reference to the downside bias of both the Williams’ %R Indicator and the ROC, we expect the stock to test the moving average of the envelope at HK$5.22. If the stock crosses below the moving average of the ...
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