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| Market Outlook |
Wednesday, March 10, 2010: 10:28 |
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Hang Seng Index and HSCEI were virtually unchanged at 21,207 and 12,210 respectively. Market turnover decreased to $58.5 billion. Heavily weighted HSBC (5) declined 0.7%. China Mobile (941) closed up 0.1%. Hong Kong property stocks including SHK Properties (16), Sino Land (83), Hang Lung Properties (101) and New World Development (17) gained 0.7%-2.4%. Li & Fung (494), the worst performing constituent of the Hang Seng Index, retreated 2.7% after hitting a record high on Monday. China Life (2628) and Ping An Insurance (2318) added 2.9%-3.0%. Sinopharm (1099) soared 2.8%. Cement stocks like Anhui Conch (914) and CNBM (3323) advanced 0.8% and 1.6% respectively. CMB (3968), the worst performing constituent of the HSCEI, tumbled 3.0% whilst other banks saw little change. China Cosco (1919) shrank 2.0% due to profit taking. Ten largest China property stocks, except for Guangzhou R&F (2777) rose an average of 2.3%. Considering weaker than expected car sales in February, we expect auto stocks to face share price pressure in the near-term. Lifestyle (1212, $13.68) 6M Target $15.25 BUY |
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Sell
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| Previous Market Outlooks |
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This commentary/recommendation is for information only and is not to be construed as investment advice or as an offer to buy or sell securities. While the commentary/recommendation is compiled using sources believed to be reliable, no assurance or guarantee is given regarding its accuracy nor completeness. Neither GuocoCapital nor any other Guoco Group companies, (nor any employees or other persons connected with any of them) accepts any responsibility or liability arising from any use of this commentary/recommendation. To the extent permitted under applicable law, the above-mentioned companies or individuals may have used the research materials before publication. However, it is hereby declared that neither GuocoCapital nor the writer, at the time of writing, has interest in any of the securities mentioned in this commentary/recommendation. |
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