Nomad Investors

  HSI Opens Up 124 pts; Led by HSBC Holdings The U.S three major indexes hit a new high yesterday (25 January), with Dow Jones Industrial Average first exceeding 20,000 pts. Asia Pacific stocks fared well. Hang Seng Index opened higher 124 pts or 0.5% to 23,173. Hang Seng China Enterprises Index opened up 57 pts or 0.6% to 9,800. Banking stocks fared well. HSBC HOLDINGS (00005.HK)    +1.100 (+1.679%)     Short selling $34.41M; Ratio 2.945%    jumped 1.2% at open, being the bigger gainer of blue chips. BANK OF E ASIA (00023.HK)    +0.350 (+1.092%)     Short selling $9.53M; Ratio 19.876%    leaped 1.1%. Shares in TENCENT (00700.HK)    +2.200 (+1.096%)     Short selling $135.85M; Ratio 3.991%    advanced 0.8% to $202.4. HKEX (00388.HK)    +0.700 (+0.377%)     Short selling $33.89M; Ratio 6.865%    and AIA (01299.HK)    +0.500 (+1.046%)     Short selling $170.69M; Ratio 27.748%    lifted 0.4%. CHINA MOBILE (00941.HK)    +0.650 (+0.749%)     Short selling 

HSI Rises 39 pts, Led by Tencent The U.S three major indexes advanced last night (24 January), with Nasdaq Composite Index hitting an all-time high. Dow Jones Industrial Average Index lifted 112 pts or 0.6% at close. Hang Seng Index opened higher 116 pts to 23,066, once reclaiming the level of 23,000. However, the gains narrowed after market open and once bottomed at 22,963. The benchmark index finished the morning trade higher 39 pts or 0.2% at 22,989. Hang Seng China Enterprises Index receded 17 pts or 0.2% to 9,742. Half-day market turnover amounted to $30.753 billion. Alibaba's better than expected quarterly results sent TENCENT (00700.HK)  +2.800 (+1.416%)    Short selling $92.75M; Ratio 4.184%   higher 1.4%, leading the market. International financial stocks also saw support, with HSBC HOLDINGS (00005.HK)  +0.550 (+0.852%)    Short selling $3.91M; Ratio 0.826%   and AIA (01299.HK)  +0.150 (+0.316%)    Short selling $70.04M; Ratio 28.447%   lifting 0.8% and 0.3%. Shares i

Credit Suisse Keeps Overweight for Chinese Insurers; Top Pick CHINA LIFE Credit Suisse, in its report, expected the growth of the PRC life insurance sector to normalise, but the momentum of listed insurers remains strong, with value of new business (VONB) growth at 20% level in 2017. The improvement in agency channel and product mix is critical for growth and value creation. The broker is confident on long-term growth of life business on low penetration and potential pension reforms. The broker kept the Overweight industry view with CHINA LIFE (02628.HK)    +0.250 (+1.174%)       Short selling $94.45M; Ratio 20.406%      as the top pick with target price of $27, as it should benefit from the macro and regulatory environment. PING AN (02318.HK)    -0.200 (-0.496%)       Short selling $25.93M; Ratio 6.867%      and CHINA TAIPING (00966.HK)    +0.160 (+0.948%)       Short selling $22.24M; Ratio 11.430%      are also liked on strong growth and long-term quality, with target prices of

JPM Rates BOC HONG KONG (02388.HK) at Overweight with Target Lifted to $32.5 JPMorgan, in its report, said it did not rule out near-term profit taking after BOC HONG KONG (02388.HK)    0.000 (0.000%)      Short selling $21.00M; Ratio 6.797%      's massive outperformance in the past 12 months, but any major pullback in share price would be a good buying opportunity. The broker revised up the earnings forecasts by 9.3%/0.8% for FY17/18 to factor in divestment gains of Chiyu Bank and better NIM outlook and raise the target price to $32.5, with rating Overweight. JPMorgan also listed BOC HK as the top pick among Hong Kong banks. The broker said BOC HK has maintained its leading position in CNH deposits but declining sector-wide balance suggested CNH deposits now account for only 10-11% of total deposits at BOC HK and thus adverse NIM impacts due to recent volatility at CNH HIBOR are diminishing. On the other hand, recent increase in HIBOR will be positive for NIM by enhancing the

PHOENIX TV Grants 9% RMB74M Loan PHOENIX TV (02008.HK)    0.000 (0.000%)       Short selling $8.04K; Ratio 5.580%      announced that its subsidiary Phoenix New Media agreed to grant to the borrower the loan in the principal amount of RMB74 million at an annual interest rate of 9% for a term of one year. 

SHCI Rises 0.7% at Close Shanghai and Shenzhen stock markets opened lower in the morning trade. At close, Shanghai Composite Index and Shenzhen Component Index advanced 0.7%/1.41% to 3,123.14/ 9,906.14. CSI 300 Index ended at 3,354.89, up 0.77%. The ChiNext Index rose 1.99% to 1,880.75. Turnover of Shanghai and Shenzhen bourses amounted to RMB322.93 billion.

Nomura Cuts CNOOC Target to $12; Bullish on CHINA OILFIELD Nomura said in its report that CNOOC (00883.HK)    -0.200 (-2.000%)       Short selling $81.21M; Ratio 12.435%      and CHINA OILFIELD (02883.HK)    -0.250 (-3.226%)       Short selling $40.37M; Ratio 18.171%      were backed by the approximate 19-39% increase in CNOOC's capital expenditure this year, thus the research house believed that the most difficult time for CHINA OILFIELD passed and expected recovery in business at the beginning of this year; industry activity and selling prices were expected to increase. Nomura was positive about the prospects of CHINA OILFIELD. The research house was more bearish on CNOOC outlook, referring to its 2017/18 annual production target decline of 4-8%. Given the bright future of the entire sector, the research house maintained CNOOC and CHINA OILFIELD at Buy and the target price of CNOOC was trimmed from $12.5 to $12. Among the three major oil stocks, the research house's top

HSI Falls 164 pts; Developers, CN Banks Weaken The market was shrouded in a thick wait-and-see sentiment ahead of the inauguration of the US President-elect Donald Trump. Dow Jones Industrial Average fell for five days in a row. Hang Seng Index opened lower 83 pts and saw a widened decline afterwards, with a decrease of up to 191 pts to bottom at 22,858. The benchmark index ended the day lower 164 pts or 0.7% to 22,885, sinking below 100MA (22,909). Hang Seng China Enterprises Index lost 76 pts or 0.8% to 9,715 at close. Market turnover amounted to $56.062 billion. Blue chips descended across the board. TENCENT(00700.HK)    -1.800 (-0.902%)       Short selling $110.09M; Ratio 7.218%      and HSBC HOLDINGS(00005.HK)    -0.450 (-0.693%)       Short selling $32.02M; Ratio 3.278%      sagged 0.9% and 0.7%. HKEX(00388.HK)    -1.700 (-0.908%)       Short selling $82.89M; Ratio 15.506%      gave away 0.9%. AIA(01299.HK)    -0.100 (-0.210%)       Short selling $315.46M; Ratio 35.732%