Nomad Investors

CKH HOLDINGS (00001.HK) announced that Chow Woo Mo Fong, Susan, who has worked for the group for 23 years, will retire from her position as group Deputy Managing Director and Executive Director of the company with effect from 1 August 2016. After her retirement, Chow will act as adviser and consultant to the company. Chow has confirmed that she has no disagreement with the Board and that she is not aware of any matters relating to her retirement that need to be brought to the attention of the shareholders of the company. ☺ ☺ ☺

The latest Centa-City Leading Index (CCL) gained 0.05% weekly to 129.44 pts, marking nine-week high. Mass Centa-City Leading Index (CCL Mass) was 130.78 pts, up 0.24% from a week earlier, hitting 17-week high. Centa-City Leading Index (small/medium units) was 129.02 pts, representing a week on week increase of 0.14%, the highest over the past 17 weeks. Centa-City Leading Index (large units) was 131.73 pts, representing a week on week decrease of 0.45%. Wong Leung Sing, senior associate director at research department of Centaline Property, said that CCL Mass, Centa-City Leading Index (small/medium units) and CCL saw a four-week rise, with a cumulative gain of 1.22%, 1.11% and 0.83% over the past four weeks. Since CCL Mass and CCL (small/medium units) have already breached above the near-term high level over the past three weeks and continued higher, the home prices are likely to test the high level at 135 pts.

The Census and Statistics Department (C&SD) announced that the value of total retail sales in May 2016, provisionally estimated at $35.7 billion, decreased by 8.4% compared with the same month in 2015. The revised estimate of the value of total retail sales in April 2016 decreased by 7.5% compared with a year earlier. For the first five months of 2016 taken together, the value of total retail sales decreased by 10.8% compared with the same period in 2015. After netting out the effect of price changes over the same period, the volume of total retail sales in May 2016 decreased by 9% compared with a year earlier. The revised estimate of the volume of total retail sales in April 2016 decreased by 7.7% compared with a year earlier. For the first five months of 2016 taken together, total retail sales decreased by 10.2% in volume compared with the same period in 2015. Analysed by broad type of retail outlet in descending order of value of sales and comparing May 2016 with May 2015, the v

HSI Leaps 358 pts, Led by Mainland Developers Market gradually factored in the news of Brexit. European and U.S. markets continued to rebound. Hong Kong stocks fared well on the last trading day of the first half of the year. Hang Seng Index followed external markets to open up 300 pts this morning, reclaiming 20- and 50-day MA and climbing up to 391 pts to 20,828. It finally closed up 358 pts or 1.8% at 20,794. Hang Seng China Enterprises Index gained 141 pts or 1.7% at 8,712. Market turnover amounted to $72.523 billion at close. Mainland developers were well-oriented. CHINA OVERSEAS (00688.HK)    +1.450 (+6.291%)       Short selling $332.38M; Ratio 28.372%      surged 6.3%, representing the best performer of blue chips, after it had issued a circular for the acquisition of CITIC's property portfolio with the purchase scale and property distribution better than expected. CITIC (00267.HK)    +0.280 (+2.545%)       Short selling $28.93M; Ratio 21.834%      leaped 2.5%. CHINA RES

G Sachs Removes HSBC HOLDINGS from CL Buy List; Target Cut to $57 Goldman Sachs, in its report, said it removed HSBC HOLDINGS (00005.HK)    +0.600 (+1.294%)       Short selling $624.94M; Ratio 24.245%      from Asia Pacific Conviction Buy List after Brexit but kept it at Buy, and lowered the 12-month target price by 14% to $57 from $66.  The broker lowered the EPS forecast of the bank for 2016-18 by 3%/8%/9% to $3.62/$5/$5.59 to reflect delayed Fed rate rises and the translation impact of the recent GBP move; higher credit costs on Europe’s weaker credit quality. HSBC trades at record low valuations of 0.68x 2016E P/B against its underlying ROE estimate of around 7% this year.  Goldman Sachs continued to believe HSBC has ample capital to withstand a high dividend payout this year (>110%) and can hold its DPS at the current level. The broker projected that the current share price of HSBC provides estimated dividend return of 8.5%/8.5%/8.7% for 2016/17/18. 

HSI Jumps 263 pts, Led by Developers Markets gradually factored in the impact of Brexit. European and U.S. markets rebounded. Hong Kong stocks followed to advance. Hang Seng Index, after opening up 44 pts, once peaked at 20,456, up 284 pts toward market end. It eventually closed at 20,436, up 263 pts or 1.3%. Hang Seng China Enterprises Index added 35 pts or 0.4% at 8,571. Market turnover amounted to $63.578 billion at close.  Government announced Land Sale Programme for July-September in the afternoon. Hang Seng PROP index surged 2.4%, outperforming market. CK PROPERTY (01113.HK)    +1.600 (+3.474%)       Short selling $22.69M; Ratio 9.209%      surged 3.5%. HENDERSON LAND (00012.HK)    +1.350 (+3.281%)       Short selling $25.32M; Ratio 13.606%      leaped 3.3%. SHK PPT (00016.HK)    +2.650 (+3.010%)       Short selling $92.93M; Ratio 21.186%      and SINO LAND (00083.HK)    +0.360 (+2.956%)       Short selling $2.65M; Ratio 3.364%      jumped nearly 3%. LINK REIT (00823.HK)    +1