<Research>JPM: Developers Could Experience Short-Term Profit-Taking if Policy Address' Support Measures Fall Short of Expectations
Upcoming Policy Address: The new Policy Address is scheduled for September 17, with expectations for potential relaxation of the new CIES, adjustments to stamp duties, and the introduction of the "Property Connect" scheme.
Market Reactions: JPMorgan expressed skepticism about the simultaneous rollout of all proposed measures, noting that if the policies are weaker than anticipated, developers may experience short-term profit-taking following the announcement.
Developer Preferences: Among developers, JPMorgan favored HENDERSON LAND and SINO LAND, while recommending CMON and LINK REIT for risk-averse landlords.
Upside Potential: The broker identified greater upside potential in HANG LUNG PPT and WHARF REIC, indicating a more favorable outlook for these companies in the current market context.
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HSI Drops 304 Points at Midday; AIA Plummets Nearly 5% Amid Weak Financials
Market Performance: The HSI fell 304 points (1.1%) to 26,580, with the HSCEI and HSTECH also experiencing declines, while total market turnover reached HKD139.462 billion.
Financial Stocks Decline: Major financial stocks like HSBC, AIA, and Standard Chartered saw significant drops, with short selling ratios indicating increased market pressure.
Tech Stocks Movement: Tech stocks such as Meituan, Tencent, and Alibaba faced losses, while some companies like Bilibili and Kuaishou also reported declines in their stock prices.
Carmakers Rally: In contrast to the overall market, car manufacturers like Geely, BYD, and NIO experienced gains, with notable increases in their stock prices amidst the downturn.
HSBC Research Positive on HK/SG Real Estate Markets; Capital Inflows and Policy Support as Main Influencers
Positive Outlook on Real Estate: HSBC Global Research has a favorable view on the real estate sectors in Hong Kong and Singapore, citing structural factors that support this optimism.
Recommended Stocks: The report highlights five Buy-rated stocks in Hong Kong, including SHK PPT, Henderson Land, and Sino Land, along with City Developments and UOL Group in Singapore.
Market Dynamics: The Hong Kong property market is benefiting from a shift in capital away from China's adjusting property market, enhancing its attractiveness.
Singapore's Market Revitalization: Singapore has introduced a SGD5 billion policy to stimulate the stock market and attract local investment into its undervalued real estate sector.
HSI Jumps 54 Points at Midday, Weighed Down by TENCENT and KUAISHOU; Banks and Homebuilders Rise
Market Overview: The HSI rose by 54 points (0.2%) to 26,830, while the HSCEI fell by 19 points (0.2%) to 9,060, and the HSTECH dropped by 72 points (1.3%) to 5,453, with a total half-day turnover of $195.285 billion.
Tech Sector Performance: Major tech stocks like TENCENT and BIDU-SW saw significant declines of 4.1% and 3.8%, respectively, with TENCENT's turnover nearing $26 billion, while other tech companies also experienced losses.
Banking Sector Gains: Banks such as HSBC and BOC HONG KONG reported gains of 2.3% and 2.5%, respectively, contributing to a positive trend in the banking sector, alongside notable increases in Chinese insurers.
Commodity and Real Estate Stocks: Commodity prices rose, with companies like ZIJIN GOLD INTL and CMOC increasing by over 4%, while Hong Kong homebuilders also saw gains, with HENDERSON LAND and SHK PPT rising by 2.1% and 1.7%.
Midday Update: HSI Ends at 27,975, Gaining 148 Points; HSTI at 5,860, Dropping 39 Points; SANDS CHINA LTD Falls Over 7%; XINYI GLASS, ZIJIN MINING, CNOOC, HENDERSON LAND, AIA Reach New Peaks
Market Performance: The HSI rose by 148 points (0.5%) to 27,975, while the HSTI fell by 39 points (0.7%) to 5,860, and the HSCEI increased by 43 points (0.5%) to 9,555.
Active Heavyweights: Notable stock movements included PING AN (+1.9%), XIAOMI (+1.5%), and CCB (+1.5%), while BABA saw a slight decline of 0.2%.
Significant Movers: SANDS CHINA LTD dropped significantly by 7.3%, whereas LONGFOR and XINYI GLASS saw gains of 5.6% and 5.1%, respectively, with XINYI hitting a new high.
High Performers in HSMI & HSSI: LOGAN GROUP surged by 29.1%, SUNAC by 27.2%, and COUNTRY GARDEN by 20%, indicating strong performance among certain stocks in the market.
HSI Rises by 699 Points, Reaching Highest Level in Over 4.5 Years; Financials, Developers, and Commodity Stocks Lead Gains
Market Performance: The Hong Kong bourse saw significant gains, with the HSI closing at 27,826, up 699 points or 2.6%, marking its highest level in over four and a half years, driven by a decline in the USD Index (DXY).
Sector Highlights: Financials, property developers, and resource stocks performed well, with notable increases in shares of HSBC, BOC Hong Kong, and various Chinese banks, as well as significant gains in property and resource companies.
Gold and Silver Surge: Spot gold prices exceeded USD 5,200, and silver futures rose sharply, with companies like SD Gold and Zijin Gold International seeing substantial increases in their stock prices.
Tech Sector Movements: Major tech stocks such as Tencent, Alibaba, and Meituan experienced moderate gains, while Kuaishou and Bilibili saw sharper increases, reflecting a positive trend in the technology sector.
<Full-day Summary> HSI Gains 699 Points; HSTI Rises 145 Points; CHINAHONGQIAO Surges Over 7%; CHINAHONGQIAO, XINYI GLASS, PETROCHINA, CNOOC, SINOPEC CORP Reach Record Highs; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 699 points (2.6%) to close at 27,826, with significant gains also seen in the HSTI and HSCEI, reflecting a strong market turnover of $361.52 billion.
Top Gainers: Notable heavyweights like Tencent, Xiaomi, and Alibaba saw increases of 2.3%, 2.1%, and 2.1% respectively, while Chinahongqiao and Pop Mart led the HSI & HSCEI constituents with gains of 7.3% and 7.0%.
Short Selling Activity: High short selling ratios were observed across various stocks, with Ping An and BYD Company showing significant short selling amounts, indicating investor caution despite overall market gains.
Noteworthy Movements: Stocks like Unisound and Chalco experienced dramatic price changes, with Unisound surging by 73.8% while XXF and Adicon Holdings faced declines of 14.5% and 12.0% respectively.
HSI Drops 304 Points at Midday; AIA Plummets Nearly 5% Amid Weak Financials
Market Performance: The HSI fell 304 points (1.1%) to 26,580, with the HSCEI and HSTECH also experiencing declines, while total market turnover reached HKD139.462 billion.
Financial Stocks Decline: Major financial stocks like HSBC, AIA, and Standard Chartered saw significant drops, with short selling ratios indicating increased market pressure.
Tech Stocks Movement: Tech stocks such as Meituan, Tencent, and Alibaba faced losses, while some companies like Bilibili and Kuaishou also reported declines in their stock prices.
Carmakers Rally: In contrast to the overall market, car manufacturers like Geely, BYD, and NIO experienced gains, with notable increases in their stock prices amidst the downturn.
HSBC Research Positive on HK/SG Real Estate Markets; Capital Inflows and Policy Support as Main Influencers
Positive Outlook on Real Estate: HSBC Global Research has a favorable view on the real estate sectors in Hong Kong and Singapore, citing structural factors that support this optimism.
Recommended Stocks: The report highlights five Buy-rated stocks in Hong Kong, including SHK PPT, Henderson Land, and Sino Land, along with City Developments and UOL Group in Singapore.
Market Dynamics: The Hong Kong property market is benefiting from a shift in capital away from China's adjusting property market, enhancing its attractiveness.
Singapore's Market Revitalization: Singapore has introduced a SGD5 billion policy to stimulate the stock market and attract local investment into its undervalued real estate sector.
HSI Jumps 54 Points at Midday, Weighed Down by TENCENT and KUAISHOU; Banks and Homebuilders Rise
Market Overview: The HSI rose by 54 points (0.2%) to 26,830, while the HSCEI fell by 19 points (0.2%) to 9,060, and the HSTECH dropped by 72 points (1.3%) to 5,453, with a total half-day turnover of $195.285 billion.
Tech Sector Performance: Major tech stocks like TENCENT and BIDU-SW saw significant declines of 4.1% and 3.8%, respectively, with TENCENT's turnover nearing $26 billion, while other tech companies also experienced losses.
Banking Sector Gains: Banks such as HSBC and BOC HONG KONG reported gains of 2.3% and 2.5%, respectively, contributing to a positive trend in the banking sector, alongside notable increases in Chinese insurers.
Commodity and Real Estate Stocks: Commodity prices rose, with companies like ZIJIN GOLD INTL and CMOC increasing by over 4%, while Hong Kong homebuilders also saw gains, with HENDERSON LAND and SHK PPT rising by 2.1% and 1.7%.
Midday Update: HSI Ends at 27,975, Gaining 148 Points; HSTI at 5,860, Dropping 39 Points; SANDS CHINA LTD Falls Over 7%; XINYI GLASS, ZIJIN MINING, CNOOC, HENDERSON LAND, AIA Reach New Peaks
Market Performance: The HSI rose by 148 points (0.5%) to 27,975, while the HSTI fell by 39 points (0.7%) to 5,860, and the HSCEI increased by 43 points (0.5%) to 9,555.
Active Heavyweights: Notable stock movements included PING AN (+1.9%), XIAOMI (+1.5%), and CCB (+1.5%), while BABA saw a slight decline of 0.2%.
Significant Movers: SANDS CHINA LTD dropped significantly by 7.3%, whereas LONGFOR and XINYI GLASS saw gains of 5.6% and 5.1%, respectively, with XINYI hitting a new high.
High Performers in HSMI & HSSI: LOGAN GROUP surged by 29.1%, SUNAC by 27.2%, and COUNTRY GARDEN by 20%, indicating strong performance among certain stocks in the market.
HSI Rises by 699 Points, Reaching Highest Level in Over 4.5 Years; Financials, Developers, and Commodity Stocks Lead Gains
Market Performance: The Hong Kong bourse saw significant gains, with the HSI closing at 27,826, up 699 points or 2.6%, marking its highest level in over four and a half years, driven by a decline in the USD Index (DXY).
Sector Highlights: Financials, property developers, and resource stocks performed well, with notable increases in shares of HSBC, BOC Hong Kong, and various Chinese banks, as well as significant gains in property and resource companies.
Gold and Silver Surge: Spot gold prices exceeded USD 5,200, and silver futures rose sharply, with companies like SD Gold and Zijin Gold International seeing substantial increases in their stock prices.
Tech Sector Movements: Major tech stocks such as Tencent, Alibaba, and Meituan experienced moderate gains, while Kuaishou and Bilibili saw sharper increases, reflecting a positive trend in the technology sector.
<Full-day Summary> HSI Gains 699 Points; HSTI Rises 145 Points; CHINAHONGQIAO Surges Over 7%; CHINAHONGQIAO, XINYI GLASS, PETROCHINA, CNOOC, SINOPEC CORP Reach Record Highs; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 699 points (2.6%) to close at 27,826, with significant gains also seen in the HSTI and HSCEI, reflecting a strong market turnover of $361.52 billion.
Top Gainers: Notable heavyweights like Tencent, Xiaomi, and Alibaba saw increases of 2.3%, 2.1%, and 2.1% respectively, while Chinahongqiao and Pop Mart led the HSI & HSCEI constituents with gains of 7.3% and 7.0%.
Short Selling Activity: High short selling ratios were observed across various stocks, with Ping An and BYD Company showing significant short selling amounts, indicating investor caution despite overall market gains.
Noteworthy Movements: Stocks like Unisound and Chalco experienced dramatic price changes, with Unisound surging by 73.8% while XXF and Adicon Holdings faced declines of 14.5% and 12.0% respectively.
