20180628-凯基证券亚洲-Investment_Daily_6页_219kb

Market Summary

Core Market Indicators

Hang Seng Index (HSI)

• HSI Value:
  • 27 Jun: 28,356
  • 26 Jun: 28,881
  • 25 Jun: 28,961
• Change:
  • 27 Jun: -525
  • 26 Jun: -79
  • 25 Jun: -377
• Market Turnover: HK$121.3 billion
• Technical Indicators:
  • 10-day MA: 29,547
  • 50-day MA: 30,455
  • 250-day MA: 29,332
  • 14-day RSI: 27.06
  • Primary Resistance: 29,000
  • Primary Support: 28,000
• Market Outlook: Expected to trade between 28,000-28,500, with technical rebound possible due to oversold condition.

Hang Seng China Enterprises Index (HSCEI)

• HSCEI Value:
  • 27 Jun: 10,879
  • 26 Jun: 11,118
  • 25 Jun: 11,208
• Change:
  • 27 Jun: -240
  • 26 Jun: -90
  • 25 Jun: -130
• Market Turnover: HK$42.44 billion
• Technical Indicators:
  • 10-day MA: 11,477
  • 50-day MA: 12,018
  • 250-day MA: 11,731
  • 14-day RSI: 22.19
  • Primary Resistance: 11,390
  • Primary Support: 10,500

HSI Futures

• June Contract:
  • 27 Jun: 28,372
  • 26 Jun: 28,945
  • 25 Jun: 28,953
• Volume: 197,468
• Open Interest: 48,324
• July Contract:
  • 27 Jun: 28,164
  • 26 Jun: 28,759
  • 25 Jun: 28,750
• Volume: 141,444
• Open Interest: 120,239

HSCEI Futures

• June Contract:
  • 27 Jun: 10,897
  • 26 Jun: 11,160
  • 25 Jun: 11,196
• Volume: 183,886
• Open Interest: 134,887
• July Contract:
  • 27 Jun: 10,730
  • 26 Jun: 10,988
  • 25 Jun: 11,026
• Volume: 174,091
• Open Interest: 245,511

Stock Performance

• Top 10 Most Actively Traded Stocks (SH-HK Connect Southbound):

  • TENCENT (700): 382,473,200
  • SUNAC (1918): 453,601,650
  • AAC TECH (2018): 279,274,600
  • GEELY AUTO (175): 254,767,690
  • CSPC PHARMA (1093): 229,287,700
  • SMIC (981): 207,063,850
  • BANK OF CHINA (3988): 204,777,770
  • CHINA SOUTH AIR (1055): 187,135,420
  • MENGNIU DAIRY (2319): 177,798,250
  • PING AN (2318): 157,199,450

• Top 10 Most Actively Traded Stocks (SZ-HK Connect Southbound):

  • SUNAC (1918): 377,406,250
  • COUNTRY GARDEN (2007): 217,682,240
  • TENCENT (700): 197,249,120
  • GEELY AUTO (175): 170,759,040
  • SMIC (981): 170,036,420
  • CHINA AOYUAN (3883): 93,149,180
  • FUTURE LAND (1030): 89,414,700
  • CHINA SOUTH AIR (1055): 88,798,460
  • AAC TECH (2018): 85,384,200
  • GENSCRIPT BIO (1548): 80,309,800

• Ten Most Actively Traded Stocks:

  • TENCENT (700): -2.23%, 377.40, 10,713.0
  • PING AN (2318): -2.18%, 71.80, 6,227.2
  • CCB (939): -2.47%, 7.12, 3,083.2
  • ICBC (1398): -2.37%, 5.78, 2,536.6
  • HKEX (388): -2.70%, 230.40, 2,474.2
  • BANK OF CHINA (3988): -1.81%, 3.79, 1,939.9
  • COUNTRY GARDEN (2007): -7.41%, 12.74, 1,871.4
  • GEELY AUTO (175): -5.13%, 19.78, 1,812.0
  • CNOOC (883): +3.18%, 12.98, 1,584.8
  • SUNAC (1918): -8.66%, 25.30, 1,572.0

Ten Short Sell Stocks

• PING AN (02318.HK): Short Sell 1.11B, Turnover 6.88B, Short Sell Ratio 16.19%
• TENCENT (00700.HK): Short Sell 1.10B, Turnover 11.47B, Short Sell Ratio 9.63%
• TRACKER FUND (02800.HK): Short Sell 1.06B, Turnover 2.20B, Short Sell Ratio 48.27%
• COUNTRY GARDEN (02007.HK): Short Sell 562.84M, Turnover 2.07B, Short Sell Ratio 27.16%
• HSCEI ETF (02828.HK): Short Sell 530.12M, Turnover 1.77B, Short Sell Ratio 29.88%
• ISHARES A50 (02823.HK): Short Sell 447.71M, Turnover 756.79M, Short Sell Ratio 59.16%
• CSOP A50 ETF (02822.HK): Short Sell 427.78M, Turnover 891.40M, Short Sell Ratio 47.99%
• CAM CSI300 (03188.HK): Short Sell 365.70M, Turnover 670.19M, Short Sell Ratio 54.57%
• CONCH CEMENT (00914.HK): Short Sell 356.32M, Turnover 889.46M, Short Sell Ratio 40.06%
• AIA (01299.HK): Short Sell 309.84M, Turnover 1.42B, Short Sell Ratio 21.76%

IPO Briefs

Inke Limited (3700)

• Industry Sector: Entertainment
• Issue Price (HK$): 3.85-5
• Total Share Offer Size (HK$ bn): 1.16-1.51
• P/E (x): 8.2-10.7
• Sponsors: CICC, Citi, Deutsche Bank
• Dealing Period: 12-July
• Performance: Inke is a leading mobile live streaming platform with over 194.5 million registered users in 2017. Despite market growth, its revenue performance was disappointing compared to peers like YY and Huya. The IPO is rated Neutral.

Hingtex Holdings Limited (1968)

• Industry Sector: Textile
• Issue Price (HK$): 1.1-1.4
• Total Share Offer Size (HK$ mn): 180-220
• P/E (x): 5.6-7.1
• Sponsor: ABC International
• Dealing Period: 16-July
• Performance: The company is a denim fabric manufacturer with a strong focus on U.S. apparel brands. It has a high market share in the residential HVAC segment. Despite revenue growth, there are concerns about inventory turnover and customer concentration. The IPO is rated Neutral.

Man Shun Group (Holdings) Limited (1746)

• Industry Sector: Construction
• Issue Price (HK$): 0.5-0.6
• Total Share Offer Size (HK$ mn): 130-150
• P/E (x): 21.4-25.6
• Sponsor: China Galaxy International
• Dealing Period: 11-July
• Performance: The company provides HVAC E&M engineering services in Hong Kong. It has a high gross margin but faces concentration risk from major customers. The IPO is rated Neutral.

Economic Calendars

• Mon: US - May New Home Sales (Survey: 670K, Prior: 662K)
• Wed: US - May Durable Goods Order (Survey: -0.7%, Prior: -1.6%)
• Thur: US - May Existing Home Sales (Survey: 2.2%, Prior: 2.2%)
• Jun. Initial Jobless Claim (Till Jun 23): US
• Jun. Continuing Jobless Claim (Till Jun 16): US
• EU Summit (Jun 28-29): Euro Zone
• Jun. Consumer Confidence: Euro Zone
• Jun. Core CPI YoY: Euro Zone (Prior: 1.1%)
• Jun. CPI Estimate YoY: Euro Zone (Prior: 1.9%)
• Jun. Univeristy of Michigan Sentiment Final: US
• Jun. Official Manufacturing PMI: China (Prior: 51.9)

Disclaimer

• The information and opinions in this report are for informational purposes only and do not constitute an invitation or offer to buy or sell securities.
• KGI Asia Ltd. does not guarantee the accuracy or completeness of the information provided.
• The analysts involved are SFC licensed and have no financial interest in the stocks mentioned.