Investment Daily Note Summary
Core Content Overview
This document provides a detailed summary of the Hong Kong and global financial markets, including indices, stock performance, sector analysis, and key economic indicators. It also highlights specific stocks and market conditions relevant to investors.
Main Market Indices
| Index |
Close |
Daily Change (%) |
YTD Change (%) |
| Hang Seng Index (HSI) |
22,000 |
0.5 |
3.3 |
| HSCEI |
9,067 |
0.4 |
(2.4) |
| Shanghai Comp |
3,039 |
0.4 |
(12.7) |
| Shenzhen Comp |
3,253 |
0.5 |
(11.2) |
External Market Conditions
- U.S. Market:
- US stocks dropped, with the Dow snapping its nine-day winning streak.
- Dow closed at 18,517, down 77 points.
- S&P 500 closed at 2,165, down 7 points.
- NASDAQ closed at 5,073, down 16 points.
- ADRs dropped, effectively putting HSI down 176 points.
- Oil Prices:
- New York crude oil futures closed at US $44.75/bbl, down US$ 1.00.
- Gold Prices:
- New York gold futures settled at US$1,331.00/oz, up US$11.70.
- Currency Exchange:
- USD Dollar Index: 97.0370 (+0.9%)
- USD/HKD: 7.7556 (0.0%)
- EUR/USD: 1.1017 (-0.7%)
- USD/JPY: 106.07 (-1.5%)
- USD/CNY: 6.6983 (-0.2%)
Hong Kong Market Turnover
| Index |
Turnover (HK$bn) |
Daily Change (%) |
| HSI |
24.5 |
14.79% |
| HSCCI |
7.7 |
32.25% |
| HSCEI |
10.8 |
15.69% |
| Main Board |
65.3 |
11.54% |
Yesterday's Hong Kong Equities
- HSI: Closed at 22,000, up 118 points.
- HSCEI: Closed at 9,057, up 33 points.
- Top Performers:
- IMAX China (1970.HK): Share price advanced 4.5%.
- China Travel International Investment (308.HK): Fell 6.9% due to a profit warning.
Trends of HSI and HSCEI
- HSI: Closed at 22,000.
- HSCEI: Closed at 9,057.
Market and HSI Up/Down Ratios
- The market and HSI up/down ratios reflect the proportion of rising/falling stocks over the past seven trading days.
- Market Up/Down Ratio: Not specified, but it is used to evaluate market performance.
- Hang Seng Index Up/Down Ratio: Not specified, but the data source is Bloomberg and SHKF.
Result Calendar
Several companies announced results or dividends in the past week, including:
- CH POLYMETAL (2133.HK): 6-MTH-ENDDED30/06/16
- CH AUTOMATION (569.HK): 6-MTH-ENDDED30/06/16
- HANG LUNG GROUP (10.HK): 6-MTH-ENDDED30/06/16
- QPL INT'L (243.HK): FIN RES, Y.E.30/04/16
- HUTCHTEL HK (215.HK): 6-MTH-ENDDED30/06/16
- HYSAN DEV (14.HK): 6-MTH-ENDDED30/06/16
- CLEAR MEDIA (100.HK): 6-MTH-ENDDED30/06/16
- HK&S HOTELS (45.HK): 6-MTH-ENDDED30/06/16
- HKEX (388.HK): 6-MTH-ENDDED30/06/16
- FAR EAST GLOBAL (830.HK): 6-MTH-ENDDED30/06/16
- HAECO (44.HK): 6-MTH-ENDDED30/06/16
- MMG (1208.HK): 6-MTH-ENDDED30/06/16
- CATHAY PAC AIR (293.HK): 6-MTH-ENDDED30/06/16
- PING AN (2318.HK): 6-MTH-ENDDED30/06/16
- TENCENT (700.HK): 6-MTH-ENDDED30/06/16
- GEELY AUTO (175.HK): 6-MTH-ENDDED30/06/16
- SWIRE PACIFIC A (19.HK): 6-MTH-ENDDED30/06/16
- SWIRE PACIFIC B (87.HK): 6-MTH-ENDDED30/06/16
- SWIREPROPERTIES (1972.HK): 6-MTH-ENDDED30/06/16
- SHANGHAI PECHEM (338.HK): 6-MTH-ENDDED30/06/16
- JIANGSU EXPRESS (177.HK): 6-MTH-ENDDED30/06/16
- CHINA SHIP DEV (1138.HK): 6-MTH-ENDDED30/06/16
- NANJING PANDA (553.HK): 6-MTH-ENDDED30/06/16
- CHINA EB LTD (165.HK): ENDED30/06/16
- DAOHE GLOBAL (915.HK): FIN RES/DIV, Y.E.30/04/16
- FAST RETAIL-DRS (6288.HK): QUARTER RESULTS, 9-MTH-ENDDED31/05/16
- CHINESE EST H (127.HK): SP INT DIV, Y.E.31/12/16
- VINDA INT'L (3331.HK): INT RES/DIV, 6-MTH-ENDDED30/06/16
Stock in Focus: Samsonite (1910.HK)
- Last Close: HK$23.00
- Entry: HK$22.10
- Target: HK$26.50
- Stop-loss: HK$21.00
- YTD/1M/3M/12M % Change: -0.2%/-0.9%/-11.9%/-4.1%
- Market Cap: HK$32.8bn
- 3M Average Daily Volume: 3.87mn shares
- FY1 Forward P/E: 19.2
Key Insight: Samsonite may be a good buying opportunity as it has shown strong performance in Q1, driven by growth in Asian and European markets. The proposed acquisition of Tumi could further enhance its market position and growth prospects.
Today's Top Picks
-
Enterprise-NEW (1808):
- Last Trading Day Closing: HK$0.410
- Target Price: HK$0.455
- Stop-loss Price: HK$0.390
- Reason: Strong price rally and increasing turnover.
-
Wealth Glory (8269):
- Last Trading Day Closing: HK$0.044
- Target Price: HK$0.048
- Stop-loss Price: HK$0.042
- Reason: Share price rose above 20-day MA, suggesting a small bet may be worth considering.
Sector Performance
Best Performing Sectors (Daily % Change)
| Sector |
Daily % Change |
5D % Change |
1M % Change |
| Medical |
1.3% |
0.2% |
2.1% |
| Logistics |
1.1% |
3.4% |
10.2% |
| Gas |
0.6% |
-0.7% |
2.4% |
| Agriculture |
0.3% |
1.9% |
-1.7% |
| REITs |
0.2% |
1.9% |
9.0% |
| Heavy Machinery |
0.1% |
-2.0% |
-0.1% |
| Other Metals |
0.1% |
-3.4% |
13.1% |
| HK Consumer Group |
0.1% |
-0.1% |
9.0% |
| Chinese Property |
0.0% |
0.8% |
7.5% |
| Technology |
0.0% |
-0.4% |
2.2% |
| Durable Consumables |
0.0% |
3.2% |
10.5% |
| Local Property |
-0.1% |
4.1% |
10.3% |
| Department Store |
-0.1% |
0.4% |
0.6% |
| Sports Accessories |
-0.1% |
5.9% |
10.4% |
Major Stocks in Best Performing Sectors
- Medical: Trad Chi Med (570), Sinopharm (1099), Sino Biopharm (1177), Fosun Pharma (2196), SH Pharma (2607)
- Logistics: Kerry Log Net (636), SITC (1308)
- Gas: China Gas (384), Beijing Enterprises (392), ENN Energy (2688), CIMC Enric (3899), China Res Gas (1193)
- Agriculture: First Tractor (38), Sinofert (297), Ko Yo Group (827), National Agri (1236), China Bluechem (3983)
- Handset and related accessories: Tongda Group (698), AAC Tech (2018), Sunny Optical (2382), Coolpad Group (2369), TCL Comm (2618)
- REITs: Yuexiu REIT (405), Fortune REIT (778), Prosperity REIT (808), LINK Reit (823), Champion REIT (2778)
- Heavy Machinery: Sany Int'l (631), Zoomlion (1157), Lonking (3339), Sinotruk (3808)
- Other Metals: Jiangxi Copper (358), CMOC (3993), Zhaojin Mining (1818), Zijin Mining (2899)
- HK Consumer Group: Sa Sa Int'l (178), Cafe De Coral (341), Luk Fook (590), Bonjour (653), I.T (999)
- Chinese Property: COLI (688), China Res Land (1109), Sunac (1918), Country Garden (2007), Evergrande (3333)
- Technology: Kingdee (268), Chinasoft (354), Tencent (700), NetDragon (777), Kingsoft (3888)
- Durable Consumables: Welling Hldg. (382), Skyworth Digital (751), Hisense Kelon Elec (921), TCL Multimedia (1070)
- Local Property: CK Hutchison (1), Henderson Land (12), SHK Prop (16), New World Dev (17), Sino Land (83)
- Department Store: NWDS China (825), Springland (1700), Intime (1833), Golden Eagle (3308), Parkson Group (3368)
- Sports accessories: 361 Degrees (1361), Xtep Int'l (1368), Peak Sport (1968), Anta Sports (2020), Li Ning (2331)
Forward P/E and Valuations of Major Indices
| Index |
FY16E P/E (X) |
Long-term avg. Fwd. P/E (X) |
Deviation from avg. (%) |
FY1 EPS Growth (%) |
FY2 EPS Growth (%) |
| Hang Seng Index |
12.1 |
11.0 |
10.3 |
(11.0) |
10.9 |
| HSCEI |
7.7 |
7.9 |
(2.6) |
(8.9) |
9.0 |
| Shanghai Comp |
14.0 |
10.7 |
29.9 |
19.9 |
12.9 |
| S&P 500 |
18.4 |
15.3 |
20.2 |
9.2 |
13.3 |
Market Data: Best and Worst Performers
Best Performers
| Company |
Stock Code |
Price (HK$) |
1D % Change |
5D % Change |
1M % Change |
YTD % Change |
Turnover (HK$m) |
FY1 P/E (X) |
FY2 P/E (X) |
| ESPRIT HLDGS |
330.HK |
6.670 |
9.7 |
16.6 |
15.0 |
-22.1 |
114.5 |
N/A |
N/A |
| SIHUAN PHARM |
460.HK |
1.860 |
8.8 |
8.8 |
17.7 |
-57.5 |
263.2 |
7.7 |
7.9 |
| UNIVERSAL HEALTH |
2211.HK |
0.415 |
7.8 |
-1.2 |
-14.4 |
-86.2 |
6.4 |
1.6 |
1.4 |
| AJISEN CHINA HOL |
538.HK |
3.550 |
5.0 |
10.9 |
15.6 |
3.2 |
3.6 |
16.9 |
16.3 |
| ASIA CEMENT CH |
743.HK |
1.630 |
3.8 |
10.9 |
18.1 |
-11.9 |
0.3 |
N/A |
64.0 |
Worst Performers
| Company |
Stock Code |
Price (HK$) |
1D % Change |
5D % Change |
1M % Change |
YTD % Change |
Turnover (HK$m) |
FY1 P/E (X) |
FY2 P/E (X) |
| NORTH MINING SHA |
433.HK |
0.159 |
-9.7 |
-19.7 |
40.7 |
38.3 |
24.3 |
N/A |
N/A |
| CHINA SINGYES SO |
750.HK |
2.920 |
-7.3 |
-1.7 |
9.0 |
-47.3 |
101.4 |
4.6 |
4.2 |
| GREAT EAGLE |
41.HK |
34.850 |
-6.1 |
8.9 |
16.6 |
47.0 |
19.6 |
13.5 |
13.4 |
| ANGANG STEEL-H |
347.HK |
3.660 |
-5.6 |
-6.3 |
14.2 |
17.5 |
144.8 |
796.7 |
63.7 |
| CHINA OILFIELD-H |
2883.HK |
6.14 |
6.14 |
6.14 |
6.14 |
137.2 |
6.14 |
137.2 |
137.2 |
HSCI Volume Filter
| Company |
Stock Code |
Price (HK$) |
1D % Change |
Avg. Vol (m shares) |
Prev. Vol (m shares) |
% Increase |
FY1 P/E (X) |
FY2 P/E (X) |
| TOM GROUP LTD |
2383.HK |
2.060 |
0.5 |
2.0 |
16.0 |
703.3 |
N/A |
N/A |
| ESPRIT HLDGS |
330.HK |
6.670 |
9.7 |
3.0 |
17.7 |
491.7 |
N/A |
N/A |
| CONSUN PHARMACEU |
1681.HK |
3.880 |
0.8 |
0.5 |
3.0 |
489.7 |
10.5 |
9.1 |
| CHINA SINGYES SO |
750.HK |
2.920 |
-7.3 |
7.3 |
34.8 |
376.6 |
4.6 |
4.2 |
| CARNIVAL GROUP |
996.HK |
0.940 |
1.1 |
46.3 |
200.1 |
229.7 |
72.3 |
37.6 |
Most Short Sold Stocks
| Company |
Stock Code |
Price (HK$) |
1D % Change |
Shortsell Turnover (HK$m) |
% of Total Shortsell Turnover |
% of Own Turnover |
FY1 P/E (X) |
FY2 P/E (X) |
| HYDOOINTERNATIO |
1396.HK |
0.159 |
-9.7 |
0.0 |
0.0 |
100.0 |
N/A |
N/A |
| CHINA SINGYES SO |
750.HK |
2.920 |
-7.3 |
18.6 |
0.3 |
67.0 |
4.6 |
4.2 |
| MMG |
1208.HK |
1.910 |
0.0 |
1.4 |
0.0 |
66.4 |
N/A |
12.3 |
| CHOW TAI FOOK JE |
1929.HK |
5.970 |
0.7 |
7.7 |
0.1 |
61.7 |
18.4 |
16.9 |
| CATHAY PAC AIR |
293.HK |
12.200 |
-2.9 |
81.1 |
1.5 |
61.2 |
9.3 |
8.5 |
A-share Premium to H-share
| Company |
H Share Code |
Price (HK$) |
A Share Code |
Price (RMB) |
A-share Premium to H-share (%) |
| LUOYANG GLASS-H |
1108 |
4.60 |
600876 |
27.59 |
594.5 |
| ZHEJIANG SHIBA-H |
1057 |
9.46 |
002703 |
30.35 |
271.5 |
| JINGCHENG MAC-H |
187 |
3.03 |
600860 |
9.46 |
261.5 |
| SHENJI GROUP-H |
300 |
2.34 |
600806 |
6.54 |
149.1 |
| HISENSE KELON -H |
921 |
4.13 |
000921 |
8.58 |
140.6 |
| ZOOMLION HEAVY-H |
1157 |
2.32 |
000157 |
4.22 |
110.6 |
| JIANGXI COPPER-H |
358 |
9.49 |
600362 |
15.36 |
87.4 |
| CM BANK-H |
3968 |
17.12 |
600036 |
17.07 |
15.5 |
| SINOPEC SHANG-H |
338 |
3.85 |
600688 |
6.19 |
86.2 |
| ICBC-H |
1398 |
4.36 |
601398 |
4.28 |
13.7 |
Key Takeaways
- Market Sentiment: The BOJ's comments on helicopter money negatively impacted market sentiment.
- Stock Performance: Several stocks showed strong gains, while others faced declines due to profit warnings and market conditions.
- Sector Trends: Medical, Logistics, and REITs were among the best-performing sectors.
- Valuation Insights: Forward P/E ratios suggest potential undervaluation for some indices.
- Investment Opportunities: Samsonite and other stocks were highlighted as potential buys based on recent performance and strategic moves.
- Short Selling: Several stocks were heavily shorted, indicating market concerns.
- Exchange Rates: The USD/HKD and USD/CNY showed slight declines, affecting market dynamics.
