20180627-凯基证券亚洲-Investment_Daily_4页_202kb
报告摘要
Market Summary
Core Content
This document provides an overview of the Hong Kong and mainland Chinese stock markets, focusing on the Hang Seng Index (HSI), Hang Seng China Enterprises Index (HSCEI), and related technical indicators. It also includes information on the IPO of Ocean Line Port (8502), Shanghai-Shenzhen-Hong Kong Stock Connect statistics, and key economic calendar events.
Main Market Indicators
| Indicator | 27 Jun | 26 Jun | 25 Jun |
|---|---|---|---|
| HSI | 28,881 | 28,961 | 29,338 |
| HSI Change | -79 | -377 | +42 |
| HSI Turn. ($bn) | 53.19 | 43.97 | 39.38 |
| HSCEI | 11,118 | 11,208 | 11,329 |
| HSCEI Change | -90 | -130 | -24 |
| HSCEI Turn. ($bn) | 41.93 | 37.42 | 33.00 |
- The Hang Seng Index closed at 28,881 on 27 Jun, down 79 points from the previous day.
- The Hang Seng China Enterprises Index closed at 11,118 on 27 Jun, down 90 points.
- Market turnover for HSI was HK$53.19 billion on 27 Jun, while for HSCEI it was HK$41.93 billion.
- The property sector continued to decline, with Country Garden (2007) being the worst performer among blue chips, down 6.65%.
Technical Analysis
Hang Seng Index (HSI)
- The HSI fell further in early trading but narrowed its loss and closed with a cross star pattern.
- MACD histogram remains in negative territory with a downward spread.
- Technical indicators suggest the index is still in a downtrend.
- Key support levels are at 28,500 and 28,000.
- First resistance level has shifted to the 250-day Simple Moving Average (SMA) at 29,321, with the second resistance at 30,000.
Hang Seng China Enterprises Index (HSCEI)
- HSCEI fell 24 points to 11,329 on 27 Jun.
- Technical indicators show continued bearish sentiment.
- Key support levels are at 10,876 and 11,500.
- The 14-day RSI is at 25.7, indicating oversold conditions.
IPO Brief: Ocean Line Port (8502)
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Industry Sector: Port
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Issue Price (HK$): 0.38–0.42
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Total Share Offer Size (HK$ mn): 76–84
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Sponsor: Alliance Capital Partners
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Dealing Period: 10–July
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Ocean Line Port operates two terminals in Chizhou City, Anhui: Jiangkou Terminal and Niutoushan Terminal.
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Jiangkou Terminal has an annual maximum throughput capacity of 8.0 million tonnes and throughput increased from 4.1 million tonnes in 2015 to 6.5 million tonnes in 2017.
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Niutoushan Terminal has a maximum capacity of 6.9 million tonnes and throughput increased from 1.8 million tonnes in 2015 to 5.1 million tonnes in 2017.
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The company's gross margin increased from 28.9% in FY2016 to 36.3% in FY2017 due to the operation of the upgraded conveyor belt at Niutoushan Terminal.
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Bulk cargo handling accounts for 79–85% of total turnover.
Stock Connect Statistics
SH Connect
| Stock | Buy Trades (RMB) | Sell Trades (RMB) | Turnover (RMB) |
|---|---|---|---|
| TENCENT | 181,976,400 | 210,500,260 | 392,476,660 |
| SUNAC | 126,712,650 | 164,702,500 | 291,415,150 |
| COUNTRY GARDEN | 48,651,620 | 229,131,800 | 277,783,420 |
| ZTE | 54,172,876 | 79,266,144 | 133,439,020 |
| SMIC | 73,771,920 | 58,880,070 | 132,651,990 |
| CHINA SOUTH AIR | 34,757,980 | 64,918,720 | 99,676,700 |
SZ Connect
| Stock | Buy Trades (RMB) | Sell Trades (RMB) | Turnover (RMB) |
|---|---|---|---|
| TENCENT | 544,106,260 | 484,776,100 | 1,028,882,360 |
| SUNAC | 233,720,100 | 180,343,450 | 414,063,550 |
| COUNTRY GARDEN | 51,334,940 | 234,027,080 | 285,362,020 |
| BANK OF CHINA | 207,970,080 | 41,673,160 | 249,643,240 |
| AAC TECH | 13,503,200 | 230,778,800 | 244,282,000 |
| CCB | 59,385,540 | 117,425,060 | 176,810,600 |
| CPIC | 3,128,910 | 169,350,250 | 172,479,160 |
| SMIC | 99,430,650 | 52,621,670 | 152,052,320 |
| CHINA SOUTH AIR | 41,006,200 | 95,553,220 | 136,559,420 |
Top 10 Most Actively Traded Stocks
| Stock Name | Code | Change | Closed Price | Turnover (Million) |
|---|---|---|---|---|
| TENCENT | 700 | -0.72% | 386.00 | 11,471.7 |
| PING AN | 2318 | -1.48% | 73.40 | 6,877.5 |
| CCB | 939 | -0.14% | 7.30 | 3,160.1 |
| HKEX | 388 | -1.00% | 236.80 | 2,228.1 |
| ICBC | 1398 | -0.84% | 5.92 | 2,183.1 |
| COUNTRY GARDEN | 2007 | -6.65% | 13.76 | 2,072.4 |
| SUNNY OPTICAL | 2382 | 2.81% | 142.60 | 1,862.4 |
| BANK OF CHINA | 3988 | -0.26% | 3.86 | 1,849.8 |
| CHINA MOBILE | 941 | 1.24% | 69.50 | 1,768.0 |
| AIA | 1299 | 0.67% | 67.65 | 1,424.0 |
Top 10 Short Sell Stocks
| Stock Name | Code | Short Sell (HK$) | Turnover (HK$) | Short Sell Ratio |
|---|---|---|---|---|
| PING AN | 02318.HK | 1.11B | 6.88B | 16.19% |
| TENCENT | 00700.HK | 1.10B | 11.47B | 9.63% |
| TRACKER FUND | 02800.HK | 1.06B | 2.20B | 48.27% |
| COUNTRY GARDEN | 02007.HK | 562.84M | 2.07B | 27.16% |
| HSCEI ETF | 02828.HK | 530.12M | 1.77B | 29.88% |
| ISHARES A50 | 02823.HK | 447.71M | 756.79M | 59.16% |
| CSOP A50 ETF | 02822.HK | 427.78M | 891.40M | 47.99% |
| CAM CSI300 | 03188.HK | 365.70M | 670.19M | 54.57% |
| CONCH CEMENT | 00914.HK | 356.32M | 889.46M | 40.06% |
| AIA | 01299.HK | 309.84M | 1.42B | 21.76% |
Economic Calendar Highlights
| Date | Country | Event | Survey | Prior |
|---|---|---|---|---|
| Mon | US | May. New Home Sales | 670K | 662K |
| Wed | US | May. Durable Goods Order | -0.7% | -1.6% |
| Thu | US | May. Existing Home Sales | 2.2% | 2.2% |
| Thu | US | Jun. Initial Jobless Claim (Till Jun 23) | - | - |
| Thu | US | Jun. Continuing Jobless Claim (Till Jun 16) | - | - |
| Thu | Euro Zone | EU Summit (Jun 28-29) | - | - |
| Thu | Euro Zone | Jun. Consumer Confidence | - | - |
| Thu | Euro Zone | Jun. Core CPI YoY | - | 1.1% |
| Thu | Euro Zone | Jun. CPI Estimate YoY | - | 1.9% |
| Fri | US | May. Core CPE YoY | - | 1.8% |
| Fri | US | May. Personal Spending | 0.4% | 0.6% |
| Fri | US | May. Personal Income | 0.4% | 0.3% |
| Fri | US | Jun. University of Michigan Sentiment Final | - | 99.3 |
| Fri | China | Jun. Official Manufacturing PMI | - | 51.9 |
Disclaimer
- The information and opinions in this report are for internal research purposes.
- KGI Asia Ltd. does not guarantee the accuracy or completeness of the data.
- The report is not an invitation or offer to buy or sell securities.
- No liability is accepted for any use of this report.
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