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Hong Kong Indices
Hang Seng Index
HS Red-chip
29113.36
4546.08
+41.80   +0.14%
-43.22   -0.94%
HSCEI
HSI FIN
11517.48
129.91
-26.61   -0.23%
-0.59   -0.45%
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Disclaimer Last updated: 22/03/2019 16:59
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Daily Commentary

22 Mar 2019

Market Outlook

HSI is expected to find support at around 29,000

Trade Talks: US and China have set a timetable for a new round of high-level trade negotiations. The US delegation will fly to Beijing to resume face-to-face talks next Thursday, and the Chinese delegation will return to Washington in early April. US President Trump said tariffs on Chinese import may remain for 'a substantial period of time'.

US stock surged: After Fed’s announcement of remaining rates unchanged and slowing down the balance sheet trimming, US equity markets surged higher on Thursday. Hong Kong stocks ADR rebounded 128 points, equivalent to the HSI 29,199 level.


Daily Pick


HK Stocks

Mengniu Dairy (02319.HK)

(Rating: Buy; Target Price: HKD30; Current Price: HKD26.55)

Benefited by brands and premiumization.

Vertical integration is conducive to cost reduction.

Differentiated business model and multi-brand layout.


A-share

ENN-EC (600803.SH)

(Rating: Buy; Target Price: RMB15; Current Price: RMB12.29)

The profit for methanol might further extend.

The natural gas production capacity might increase.

The acquisition of Toshiba's US LNG business might expand its overseas business.


Sector and Company News


The following stocks will announce earning results: China RES Power(00836)(22th Mar), China Shenhua(01088)(22th Mar), YOFC(06869)(22th Mar), Wuxi APPTEC(02359) (22th Mar), Shenzhou INTL(02313)(25th Mar), China RES Land(01109)(26th Mar), ZTE(00763)(27th Mar), Mengniu Dairy(02319)(27th Mar).

Geely Auto (00175) announced the annual result ended December 2018. The turnover rose 14.9% YoY to HKD106.595 bn. The net profit amounted to HKD12.553 bn, up 18.1% YoY. A final dividend of HKD0.35 was declared.

Tencent (00700) announced annual results ended December 2018. The turnover rose 31.5% YoY to RMB312.694 bn. The net profit amounted to RMB78.719 bn, up 10.1% YoY. Final DPS was HKD1.

CK Asset (01113) announced annual results ended December 2018. Revenue amounted to HKD64.481 bn, up 1.1% YoY. During the year, net profit attributable to shareholders amounted to HKD40.117 bn, up 33.2% YoY. Final DPS was HKD1.43. Full-year DPS totaled HKD1.9.

China Mobile (00941) announced the results for the year ended 31 December 2018. Net profit burgeoned 3.1% YoY to RMB117.781 bn. A final dividend of HKD1.391 per share was declared. Full-year dividend amounted to HKD3.217 per share. Full-year dividend payout ratio increased to 49%.


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