P/e Ratio

Beware regulators who start to offer investment advice

In most markets, the dividing line between investment advisers and regulators is clear.

Advisers tell you what they think you should buy or sell. In return, they earn a fee, or more likely a commission, for their advice.

Wednesday, 15 August, 2012, 11:04pm

Carat and the shtick

Graff Diamonds, a high-end jeweller, was supposed to have turned around Hong Kong's moribund initial public offering market. It was not to be. Instead, the company pulled its US$1 billion-equivalent listing on May 30, piling more disappointment on an already massively downbeat market.

What went wrong?

11 Jun 2012 - 12:00am

Balance of payments

Illustration: Harry Harrison

The PE ratio comes up short for many analysts as they seek to determine returns, writes Jake van der Kamp.

30 Apr 2012 - 12:00am

Hope for stocks despite dismal economic outlook

Ever since the credit crunch began to bite in the late summer of 2007, policymakers in the Western world have been haunted by the fear that the United States is following the trajectory of Japan in the 1990s, and that the world's largest economy is heading for a lost decade of its own.

5 Sep 2011 - 12:00am

Market Calls

Lianhua Supermarket (980) stock dropped to a yearly low last week after its first-half results were announced on August 11.

The results beat analysts' expectations, and the supermarket is a core member of the much-loved mainland consumer sector, but there are concerns about the firm's growth.

22 Aug 2011 - 12:00am

Expect a rebound from silly season's screaming bargains

It's probably not much of a consolation, but if you're the sort of person who likes to put labels on everything, you can now proclaim that the Hong Kong stock exchange is in a bear market.

10 Aug 2011 - 12:00am

What is a good contrarian bet to make in this climate?

This week's question was premised on the view that markets are sluggish, with no asset class shining in particular.

Mark Matthews (head of Asia research, Bank Julius Baer) likes Malaysia, which he describes as Asia's ultimate contrarian stock market for the past 13 years.

27 Jun 2011 - 12:00am

Lai See

RTO stocks are bad news, no matter how you cut it

15 Jun 2011 - 12:00am

Correction forecast in gaming sector

A correction could be on the cards for casino stocks after a strong rally in the gaming sector, analysts warned yesterday.

The sector had been lifted by news of a 42 per cent surge in gaming revenue in Macau, said Daniel So, an analyst with Sun Hung Kai Financial.

3 Jun 2011 - 12:00am

Yuan shares offer no currency advantage for HK investors

I know I've said this before, but with everyone making such a song and dance about Hong Kong's first yuan-denominated share offering, it is worth making the point again: as far as investors are concerned, yuan shares have no advantage over ordinary Hong Kong dollar shares.

12 Apr 2011 - 12:00am

Learning to love crisis

'Share markets may go down as well as up,' or so goes the rather unhelpful proviso presented to investors at the time of equity purchases.

A more constructive way to frame that message would go something like: 'Share prices may go up or you may be blindsided by a global catastrophe for which there is no planning.'

11 Apr 2011 - 12:00am

Analysts shift to liquidity gauge in evaluating developers

A year ago, the most popular question from property stock analysts after developers' results presentations was how fast the firms could refill their land banks for expansion. Today, analysts have other concerns.

28 Apr 2008 - 12:00am

Bearish tide begins to turn for HK stocks

Yesterday's 6.4 per cent jump in the Hang Seng Index owes a lot to the 4 per cent rebound in United States stocks over Friday and Monday while the local market was closed.

26 Mar 2008 - 12:00am

Investors expected to focus on corporate earnings growth

Mainland investors will have to apply a laser-like focus to corporate profit growth next year as they seek to strike it rich in the volatile stock market.

Beijing's expected monetary tightening is set to slow earnings growth from the 60 per cent level projected for this year.

31 Dec 2007 - 12:00am

Even the darkest of clouds has a silver lining

It was a dark day for the market yesterday; the Hang Seng Index fell more than 1,100 points and local brokerage Great Honest Investment went bust.

While many are saying the stock party is over, fund houses such as Invesco remain optimistic about the Hong Kong market's prospects.

13 Nov 2007 - 12:00am