20180716-凯基证券亚洲-Investment_Daily_5页_234kb

Market Summary

Core Content

This document provides an overview of the Hong Kong and Chinese stock markets, including key market indicators, technical analysis, stock performance, and economic calendar events. It also highlights specific company performance and analyst recommendations.

Main Market Indicators

• The Hang Seng Index (HSI) closed at 28,525, up 44 points from the previous day.
• The HSI rebounded but faced pressure due to weak investor buying at high levels.
• The HSI turnover was HK$84.5 billion.
• The HSI is expected to trade between 28,400 and 28,800 today.
• The HSI Technical Indicators show a positive MACD histogram and the index closed above the 10-day moving average (SMA).
• Primary support is at 28,000, with second support at 27,500.
• Primary resistance is at 29,000 (10-day SMA), with second resistance at 250-day SMA.

HSCEI Performance

• The HSCEI closed at 10,746, down 6 points from the previous day.
• The HSCEI turnover was at 20.94 billion dollars.
• The index is showing a mixed technical trend with a lower RSI (33.9) and fluctuating moving averages.

Company Highlights

China Resources Gas (1193)

• The company completed 36 new investment projects in 2017 with a total investment of HK$1.72 billion.
• Upon completion of new distributed energy projects, the group's installed capacity will increase by 95MW and gas volume by 250 million cubic meters.
• The stock closed at HK$35.00, with an expected P/E of 18.37 and a dividend yield of 1.92%.
• The 14-day RSI is at 67.9, indicating overbought conditions.
• The stock is currently trading at a P/B of 3.13X, and analysts recommend accumulating during consolidation.

Chow Tai Fook (1929)

• Q1 Hong Kong and Macau same store sales growth (SSSG) was 26%, exceeding market expectations.
• SSSG in Hong Kong and Macau was faster than in Mainland China, which saw a 4% growth.
• The company's gold product SSSG was strong, with 31% in Hong Kong and Macau and 11% in China.
• Gem set sales in China remained weak, with only 4% YoY growth.
• The stock closed at HK$8.90, with an expected P/E of 18.2 and a dividend yield of 4.7%.
• Analysts recommend accumulating in phases due to short-term pressure from weak CNY.

Stock Connect Statistics

SH Connect

• Balance: 51.40 billion RMB
• As % of Quota: 98.9%

SZ Connect

• Balance: 51.34 billion RMB
• As % of Quota: 98.7%

Combined Southbound

• Balance: 83.55 billion RMB
• As % of Quota: 99.5%

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

• China Shenhua (1088)
• Tencent (700)
• ICBC (1398)
• AIA (1299)
• CCB (939)
• Ali Health (241)
• Sunny Optical (2382)
• Geely Auto (729)
• CSPC Pharma (1093)
• Bank of China (3988)

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

• ZTE (763)
• Kingdee International (268)
• FDG Electric Vehicles (729)
• Tencent (700)
• Yihai International (1579)
• Kingsoft (3888)
• Ali Health (241)
• YOFC (6869)
• Sunac (1918)
• Li Ning (2331)

Short Sell Statistics

Top 10 Short Sell Stocks:

• Tracker Fund (02800.HK)
• CCB (00939.HK)
• Ping An (02318.HK)
• Sunny Optical (02382.HK)
• Tencent (00700.HK)
• CSOP A50 ETF (02822.HK)
• Xiaomi-W (01810.HK)
• Evergrande (03333.HK)
• HSCEI ETF (02828.HK)
• CAM CSI300 (03188.HK)

Economic Calendar Highlights

• China: Q2 GDP, June Retail Sales, June Industrial Production, First Half Fixed Assets Investment
• Euro Zone: May Trade Balance, June CPI
• US: June Industrial Production MoM, June Housing Starts, June Building Permits, Initial and Continuing Jobless Claims, Federal Reserve Beige Book

Analyst Recommendations

• China Resources Gas (1193): Recommend accumulating during consolidation due to strategic growth and improved technical indicators.
• Chow Tai Fook (1929): Recommend accumulating in phases due to short-term pressure from weak CNY, despite strong performance in Hong Kong and Macau.

Disclaimer

• The information and opinions are from KGI Asia Ltd.'s internal research.
• The report is for informational purposes only and may not be reproduced or published without prior written consent.
• KGI Asia Ltd. does not make any representation or warranty regarding the accuracy or completeness of the information provided.