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[Market Focus]
[OPEC reached a crude oil production reduction agreement, effective from January] OPEC representatives said that OPEC reached a production reduction agreement, which will reduce production by 1.2 million barrels per day to 32.5 million barrels per day, and will reduce production by 1.2 million barrels per day from January. Months. Saudi Energy Minister Falih said that the OPEC production reduction agreement will be implemented from January, which will be good news for the entire industry; the agreement will boost the global economy. Indonesia suspended its OPEC membership. Qatar oil chief Sada said that Russia promised to cut production by 300,000 barrels per day. OPEC Chairman Saada said that non-OPEC members have made a commitment to participate in the production reduction agreement; OPEC has established an oversight committee to implement the agreement.
Comments: The results of OPEC have finally been released. The market attitude of this production reduction agreement has already indicated that the price of WTI and Brent crude oil futures has risen, indicating that crude oil and related stocks will benefit, and also stimulate the market performance of related oil and gas exploration related industry chain companies, especially oil. Service and oilfield companies benefited first.
[The general trend of judgment]
The Hang Seng Index closed at 22,789.77 points on Wednesday, an increase of 0.23%, and the market turnover was HK$68.44 billion.
Hong Kong stocks did not follow the downside of A-shares. The main reason was that the recent gains were not large and there was not much short-selling pressure. Hong Kong stocks are generally followed by US stocks, while the US released data on Tuesday is ideal. The OPEC meeting is close to reaching a deal. OPEC's current discussion focuses on reducing production by 1.4 million barrels per day, which is larger than expected. The oil futures market broke through the US$50 mark in February and rose nearly 8%. In addition, the RMB exchange rate rebounded again. These are good news.
From the perspective of the disk, heavyweights performed generally, but individual stocks were still active, mainly in telecommunications and Hong Kong real estate. In addition, the varieties of overweight and repo also performed well. China Unicom's Hong Kong stock market 00762 (00762) in telecommunications rose 7.08%, but there are still uncertainties in its hybrid reform plan. Hong Kong's real estate sector has not yet peaked from the big cycle, and the mainland's increasingly restrictive lending policy has brought better opportunities for Hong Kong stock real estate stocks. As long as the performance is good, high-yield stocks are still expected to receive large funds. Configuration.
In terms of the downtrend sector, resource stocks have suffered heavy losses. The current fundamentals do not support the substantial increase in steel and coal. The risk of this sector should attract attention and not over-raise.
From a technical point of view, the Hang Seng Index continues to remain above the 5-day moving average. The less desirable factor is that the leading stock of Tencent Holdings Hong Kong stock 00700 (00700) is still unstable, and it is expected that the OPEC meeting will bring even greater surprises.
[Industry Information]
1. [Electric enterprises wait for price cuts to cause coal transactions. The Frozen Development and Reform Commission will once again talk about large-scale coal enterprises tomorrow.] The electricity companies are still waiting for price cuts, indicating that the long-term co-prices will be purchased and the coal transactions will be frozen. The National Development and Reform Commission decided to hold a symposium on December 1 at the National Coal Trading Conference to convene some large coal enterprises and relevant provincial industry management departments to hold a symposium. The main content of the meeting is to exchange current coal economic operation, focusing on how to guarantee the implementation of medium and long-term contracts and better and effectively implement the 276 working day system, etc., and provide opinions and suggestions in a targeted manner.
Comments: After the four major power companies raised the price of electricity to the Shaanxi provincial government, they again pressured the upstream price to cut, causing the coal transaction to basically freeze, and coal will continue to adjust at least in the short term.
2. [Lead price surges to stimulate lead batteries to rise in the electric vehicle industry or smashing price storms] The surge in lead prices has spurred downstream lead batteries to continue to rise. As of November, Shanghai lead has risen by about 33%, and finished batteries have appeared. The market is rising every day. In December of last year, the electric vehicle industry began to set off a price surge in the electric vehicle market.
Comments: Directly benefit Tianneng Power Hong Kong stocks 08019 (00819) and Chaowei Power Hong Kong stocks 00951 (00951).
3. [Policy "Eight Lianfa" paving oil and gas reform] The oil and gas reform documents issued in the past three months have reached eight, directly pointing to the two cores of reform of the distribution system and third-party access, and opening the price of the station in Fujian. The market-oriented reform pilot is considered to pave the way for the overall plan for the reform of the oil and gas system that was released during the year. It is understood that the new round of oil and gas reform involves market access and price liberalization in the middle and lower reaches of oil and gas. The ultimate goal is to realize the price of the distribution network of the government that only regulates natural monopoly during the 13th Five-Year Plan period. The gas source and the selling price are released at both ends.
4. [2016 New Energy Vehicles National Replenishment Policy will increase greatly.] According to Caixin, the 2016 New Energy Vehicle National Replenishment Policy has been signed by four ministries and will be submitted next week. To the State Council, it is expected to be released in early December. The source said that the new national subsidy policy will be larger than the previous version (ie, the annual reduction in subsidies), and some models will have a 60% decline.
[Selected News]
1. The number of ADP employment in the United States increased by 216,000 in November, the highest increase since June. According to CME Watch, US federal funds futures data shows that traders expect a rate hike probability of 94% in December.
2. The initial value of CPI in the Eurozone increased by 0.6% year-on-year in November, slightly higher than the previous value of 0.5%, in line with expectations and reached a high point since April 2014. The initial value of the core CPI in the Eurozone in November increased by 0.8% year-on-year, which was 0.8% in October, which was also in line with expectations.
3. According to reports from Reuters, UniCredit, Italy's largest asset bank, has invited 10 banks including Bank of America Merrill Lynch to assist its fund-raising consortium program. UniCredit plans to raise funds to form a large consortium of billions of euros in February next year.
4. The People's Bank of China disclosed that at the end of October, the short position of foreign currency against local currency forward contracts and futures contracts was $45.3 billion.
5. Mainland funds continued to be tense, and Shibor continued to rise for the 15th consecutive trading day. The 7-day Shibor hit a new high in the year.
6. Hong Kong's private residential property price index for October was 303.8 points, rising for the seventh month and hitting a one-year high, up 2.6% from the previous month.
7. The provisional statistics of the Hong Kong insurance industry show that gross premiums for the first three quarters of 2016 were 327.3 billion yuan, an increase of 20% compared with the same period in 2015. Among them, the new office premiums sold to mainland visitors were 48.9 billion yuan, accounting for 37% of the total new office premiums (132.3 billion yuan) for personal business in the first three quarters of 2016.
8. According to the Statistics and Census Bureau of Macao, in the first ten months, a total of 6.093 million visitors participated, down 27.0% year-on-year. The total number of hotels and apartments was 9.652 million, an increase of 13.5% year-on-year; the average occupancy rate was 81.5%, an increase of 1.4 percentage points.
9. US stocks generally closed down on Wednesday, the Dow rose 1.98 points, or 0.01%, to 19,123.58 points; the S&P index fell 5.85 points, or 0.27%, to 2,198.81 points; the Nasdaq fell 56.24 points, or 1.05%, to 5,323.68 points.
10. US WTI crude oil futures prices soared 9.3% on Wednesday, closing at the highest level since late October, after OPEC announced that it had reached a production reduction agreement for the first time in eight years. Brent crude on the London Intercontinental Exchange rose $4.09, or 8.8%, to close at $50.47 a barrel.
ã€Capital flows】
Southbound Hong Kong stocks yesterday net inflow of 114 million yuan, the use of 1.08%.
Sector aspect:
The five sectors with the largest net inflow of Hong Kong stocks yesterday were telecommunications, real estate, insurance, industrial manufacturing and automobiles. Among them, the net inflow of telecommunications was 452 million Hong Kong dollars, and real estate and insurance flowed to 425 million and 343 million Hong Kong dollars respectively.
Individual stocks:
The top 10 stocks that flow in:
AIA Hong Kong stocks 01299 (01299), China Unicom (00762), Fullshare Holdings Hong Kong stocks 00607 (00607), Galaxy Entertainment Hong Kong stocks 00027 (00027), China Mobile Hong Kong stocks 00941 (00941), China Telecom Hong Kong stocks 00728 (00728), HSBC Holdings Hong Kong stocks 00005 (00005), GCL-Poly Energy Hong Kong stocks 03800 (03800) and China Power Hong Kong stocks 02380 (02380).
Sell ​​the top 10 stocks:
Tencent Holdings (00700), CCB Hong Kong stocks 00939 (00939), Agricultural Bank Hong Kong stocks 01288 (01288), China Overseas Development Hong Kong stocks 00688 (00688), Haitong Securities Hong Kong stocks 06837 (06837), China property insurance Hong Kong stocks 02328 (02328), CITIC Securities Hong Kong stocks 06030 (06030), IGG Hong Kong stocks 00799 (00799), Angang Steel shares 00347 (00347) and China Merchants Bank Hong Kong stocks 03968 (03968).
[Announcement]
1. China Minsheng Financial Port Co., Ltd. 00245 (00245) signed an offer letter to acquire a financial technology service company
Signed an offer letter with a financial technology services company. Accordingly, the company offered a conditional offer to purchase the common shares of the target company per share at a consideration of cash of RMB 1.5 and 4.8 shares of the company's common stock, of which the company's common stock was valued at HK$1 per share.
It is reported that the target company is a qualified and influential financial technology service enterprise in China, which is in line with the company's long-term strategy in the development of financial technology. If the acquisition is successful, it will improve the company's construction of the financial service platform, strengthen the company's core profitability, and create more value for shareholders.
Zhitong Interpretation: The company “freely†acquired new assets. Although it did not disclose the financial status of the underlying assets, it was enough to be free. Before the company’s announcement, the stock price rose by more than 17% yesterday, and it is expected that the follow-up will continue to perform.
2. China Unicom (00762): Mixed ownership reform is still under discussion
Interpretation of Zhitong: Unicom is the "first shot" of the state-owned enterprise mixed reform. Yesterday morning, the market rumors passed the reform. After the approval process and the company’s rumor, the stock price narrowed, but China Unicom’s mixed reform is imperative. Announced.
3. Han Media Hong Kong stocks 00491 (00491) 3 affiliated to sell 46 movie rights to TVB for HK$56 million
Interpretation of Zhitong: The company's annual report loss as of June 2016 was 106 million, and the loss increased by 41.37% compared with the same period. The sale of the copyright is beneficial to the company's cash flow, and whether there is any further progress to see how the company uses the funds.
4. Crown Global Group Hong Kong stocks 00727 (00727) interim profit of 3.903 million Hong Kong dollars decreased by 20.09%
5. Boda Lvazawa (01253) plans to acquire a 60% interest in Hangzhou Xiaoshan Jiangnan Garden Project
6. Harmony Auto Hong Kong stocks 03836 (03836) clarified that Chairman Feng Changge did not lose contact but assisted the Mainland investigation
7. Xiehe New Energy Hong Kong stock 00182 (00182) plans to sell the entire share capital of Yulin Solar for 321 million yuan
8. Colour Life Hong Kong stocks 01778 (01778) raised the annual cap for the Fantasia Engineering Services transaction from $16.5 million to $23 million
9. Eastern Airlines (00670) sold 2.432 billion yuan to major shareholders for the sale of China Eastern Airlines
10. CGN Power Hong Kong stocks 01816 (01816) sold to CLP (00002) Yangjiang Nuclear Power 17% stake for 5 billion yuan
[Financial Express]
1. Minmetals Real Estate Hong Kong stocks 0,032 (00230) expect net profit in the first 10 months to increase by 2.6 times
2. China Water Port's 00855 (00855) interim net profit increased by 49.3% to HK$429 million
3. Yidu (00259) 6 months net profit of 366 million yuan, an increase of 401%
4. International Precision Hong Kong stocks 00929 (00929) net profit in the first 10 months of the year higher than 30% year-on-year, expected annual net profit increased significantly
5. Bosideng Hong Kong stocks 03998 (03998) 6 months net profit increased by 20.3%
6. People's Financial Technology Hong Kong stocks 00279 (00279) Interim shareholder's profit attributable to approximately HK$246 million
7. Yaocai Securities Financial Hong Kong stocks 01428 (01428) interim net profit decreased by 39.39% to HK$130 million
8. Guangze International Development (00989) 6-month net profit of 97.77 million yuan
9. Scud Hong Kong stocks 01399 (01399) sales revenue of 4.5 billion in the first 10 months continue to suspend trading
10. Haier Smart Health Hong Kong stock 00348 (00348) mid-term company owner's loss increased by 69%
[Large rating]
Credit Suisse: It is recommended to “overweight†the mainland telecom stocks preferred by China Telecom (00728).
Zhongjin: Master Kong (00322) recovery start rating "recommended" target price of 11.48 yuan.
Yamato: In November, the average daily sales of passenger cars in the Mainland increased by 27% year-on-year. Geely (00175) led the gains.
Bank of America Merrill Lynch: The rating of Zhongzhong (00384) is down to “underperform†and the target price is as low as 11 yuan.
Xiaomo: China Combustion (00384) The target price of the weak performance is as low as 11.8 yuan.
Morgan Stanley: Yuanyoubang (01299) will raise its rating to “overweight†in the next 60 days; the short-term momentum of Goodbaby International Hong Kong stocks of 01068 (01086) may slow down to 4.2 yuan.
[transaction alarm]
Netlong Hong Kong stocks 00777 (00777), Lemmon International Hong Kong stocks 03688 (03688) announced results.
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