Census and Statistics Department (C&SD) released today the Consumer Price Index (CPI) figures for August 2014. According to the Composite CPI, overall consumer prices rose by 3.9% in August 2014 over the same month a year earlier, slightly smaller than the corresponding increase (4.0%) in July 2014. Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in August 2014 was 3.2%, also slightly smaller than that in July (3.3%), mainly due to the enlarged decreases in the charges for package tours. Amongst the various CPI components, year-on-year increases in prices were recorded in August 2014 for electricity, gas and water (24.3% in the Composite CPI and 29.7% in the CPI(A), mainly because some households had used up the full amount of Government's one-off electricity charge subsidy); alcoholic drinks and tobacco (7.6% in the Composite CPI and 8.2% in the CPI(A), mainly...
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Hang Seng Index eventually leaped 137 pts or 0.6% to 24,306 at close, with the day high at 24,419, Hang Seng China Enterprises Index fell 16 pts or 0.1% to 10,783. Market turnover increased $94.721 billion. Heavyweight blue chips drove the market higher. As Alibaba is going to make its debut on the NYSE, TENCENT (00700.HK) +2.300 (+1.871%) Short selling $425.34M; Ratio 8.507% gained 1.9%; CHINA DONGXIANG (03818.HK) +0.030 (+1.765%) Short selling $6.67M; Ratio 6.489% , holding interest in Alibaba, closed higher by 1.8%. Other software and mobile game stocks also advanced, with SINOSOFT TECH (01297.HK) +0.150 (+5.338%) and KINGDEE INT'L (00268.HK) +0.120 (+4.898%) Short selling $505.94K; Ratio 1.134% up 5.3% and 4.9% respectively. NETDRAGON (00777.HK) ...
Credit Suisse said in its latest research report that as the revenue from Macau gaming sector remained weaker than expected and outlook still existed uncertainties, it lowered the 2014/15 revenue forecast from 5%/11% to 1%/8%, and cut the sector's target prices by 10-25%. The research house believed SJM HOLDINGS (00880.HK) +0.040 (+0.242%) Short selling $10.76M; Ratio 4.756% (reiterated Neutral), GALAXY ENT (00027.HK) +0.550 (+1.116%) Short selling $92.81M; Ratio 8.866% and WYNN MACAU (01128.HK) +0.650 (+2.675%) Short selling $33.69M; Ratio 10.685% (both downgraded to Neutral) are likely to underperform peers. It suggested adding MGM CHINA (02282.HK) +0.150 (+0.682%) Short selling $8.48M; Ratio 3.064% and SANDS CHINA LTD (0192...
According to the latest labour force statistics released today by the Census and Statistics Department, the seasonally adjusted unemployment rate stood at 3.3% in June - August 2014, same as that in May - July 2014. The underemployment rate decreased from 1.5% in May - July 2014 to 1.4% in June - August 2014. Comparing June - August 2014 with May - July 2014, an increase in the unemployment rate (not seasonally adjusted) was observed in the education sector while a decrease was mainly seen in the foundation and superstructure works of the construction sector. As to the underemployment rate, a decrease was mainly observed in the decoration, repair and maintenance for buildings sector. Total employment increased by around 18,900 from 3,771,100 in May - July 2014 to 3,790,000 in June - August 2014. Over the same period, the labour force also increased by around 22,000 from 3 904,400 to 3,926,400. The number of unemployed persons (not seasonally adjusted) increas...
Bank of America Merrill Lynch said in its latest research report that in order to avoid direct competition with the entry level luxury brands, it is more convinced that GAC GROUP (02238.HK) +0.100 (+1.263%) Short selling $7.25M; Ratio 18.013% will speed up its sales on vehicles with downsizing engine during 2014-16. BofA ML believed the same store sales growth and capacity utilization rate will improve in 3Q2015, however, its was too early to factor in a robust growth in the 2H2015 due to the engine downsizing strategy. The target price was cut from $9.96 to $8.42 and the Neutral rating was maintained. (Quote is delayed for at least 15 mins.Short Selling Data as at 2014-09-17 16:25.)
Hang Seng Index closed at 24,376 today, up 240 pts or 1%; Hang Seng China Enterprises Index leaped 175 pts or 1.6% to 10,893. Market turnover increased to $76.971 billion. As the PBOC was said to have conducted SLF operations totaling RMB500 billion to five big banks recently, Chinese banking stocks rallied, with BANKCOMM (03328.HK) +0.130 (+2.317%) Short selling $34.07M; Ratio 13.583% as the strongest, which advanced 2.3%. The other four big banks rose 1.1%-2%. With the rebound in international oil price, Chinese oil stocks also closed higher. PETROCHINA (00857.HK) +0.400 (+3.876%) Short selling $358.79M; Ratio 27.643% jumped 3.9% and became the best performing HSCEI constituent. CNOOC (00883.HK) +0.280 (+1.975%) Short selling $138.99M; Ratio 16.518% and SINOPEC CORP (00386.HK) ...