Pls see attached the full report, below is a highlight:
Date: 06-Nov-2008
IndexChg (%)Ch (pt)Closed Yesterday Chg (%)
H.SI -7.08%-1050.1213790.04+3.17%
HSCEI-8.67%-626.196599.50+5.32%
HSCCI-9.33%-288.852806.48+1.97%
HK$ BlnHKM TOH.SI TOWarrant TOHSF TOHSP TO
Today48.25bln23.75blnCall8.38/Put4.10bln11.22bln1.88bln
Last63.37bln31.24blnCall9.06/Put5.69bln16.74bln2.99bln
Market sentiment:
Obama honeymoon is OVER, Hong Kong market and other oversea market fell with large scale and treated their previous gain in just one day. HK market turnover is thin, buyers seemed not to comfortable to pick up the selling. ECB Rate decision would be released tonight. Market expect 50bps cut at least.
Top 10 deals at CICC (by turnover in HK$).
3 Buys. Vs. 7 Sells: Buy 883.hk, 358.hk, 2888.hk, 330.hk 3968.hk, 388.hk, 1898.hk.
Market sector Movement
SectorPerformance SectorPerformance
Telecom MixedOil relatedBad
Electric PowerBadEnergy Resource Bad
Metal BadShipping Bad
FinanceBadAir TransportBad
Property BadAutomobile Bad
Hong Kong market opened at -800pts low and ran flat almost all the day before it closed at day low 13790pts, fell 1050pts or 7%, with thin turnover HK$48.25bln. Oversea market all retreated, Japan -6.55%, Korea -7.56%; A-share -2.44% and Taiwan -5.7%. In Hong Kong, CMHK (941.hk), HSBC (5.hk) and CCB (939.hk) led the fall.
l Standard Chart banks (2888.hk) increased their new house mortgage loan rate by 1%, effect today. Change from Current P-2.25% to P-1.25%. Bank delivered this news after market close. As SCB mortgage loan business market share is not large, the financial impact to local market is limited, but the sentiment may be hurt. SHK (16.hk) -8%; HL PPT (101.hk) -9.5%; Hang Lung Group (10.hk) +2.5%; Cheung Kong (1.hk) -7.16%.
l China RMB 5trillion construction project rumor still spread out over the market. China Railway cons (1186.hk) once +5.02%, after it said the project suspension has no impacts on the overall financial results in 2008, but it closed at +0.34%; CRG (390.hk) -10.9% after GS downgrade the CRG Tpx to HK$5.2, HOLD rating. CCC (1800.hk) -9.1%; CSR (1766.hk) -3.8%.
l Cathay Pac (293.hk) -14.3% after is issue a profit warning. Cathay said $2.80 bln losses on fuel hedging contract. CS maintain the HOLD rating with Tpx HK$13.5 unchanged. Air China (857.hk) -7.0%; CEA (670.hk) -4.8%; CSA (1055.hk) -11.7%.
l Dah Sing (440.hk) +18.7% and Dah Sing Bank (2356.hk) -8.4%, after the bank with potential losses to the collapse of WaMu, it would damp H2 financial results. The bank expect full year profit to fall "substantially" below the 2007 level. It parent Dah Sing (440.hk) also issued a similar profit warning.
l CMB (3968.hk) fell 9.9% to HK$12.18 as it acquired Wing Lung Bank (96.hk). Dah Sing bank’s earning warning made investors worry about WLB (96.hk)’s quality. After days of rally, banks also fell to retreat previous gain. ICBC (1389.hk) -8.3%; CCB (939.hk) -5.76%; BoComm (3328.hk) -7.5%; Citic Bank (998.hk) -5.36%;
l News said the prices for Thermal coal may fall further because of a potential oversupply and coking coal contract prices are expected to decline next year as Asian Steelmaker cut output due to weaker demand. Yanzhou Coal (1171.hk) -16%, China Shenhua (1088.hk) -12.2% and China coal (1898.hk) -14.73%,
l IPP also fell a lot as rumor said China Oct. electricity demand growth may be Negative. Which means that China GDP growth may below 5% in Oct. Huadian (1071.hk) -16%; Huaneng Power (902.hk) -13.5%; DaTang (991.hk) -13.6%; China Res Power (836.hk) -12.2%.
l News source reported that analysts predict HSBC(005.HK) may increase provisions for bad loans at its US unit in 3Q as defaults on credit cards and mortgages increase. HSBC down 4.6%.
 aBmET69Z.rar (38.65 KB)
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发表于 2008-11-11 16:09
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