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Gigi Choy

Kathleen Magramo

Deb Price

Good day, traders!
Hong Kong stocks rallied for a straight session, while mainland stocks slipped.
Catch up on the action below.
--Gigi Choy, Kathleen Magramo and Deb Price in Hong Kong 
Note: Information in this blog is on an "as is" basis and not a solicitation or offer to buy or sell any securities or otherwise; and is not investment/professional advice or services in this regard.  It is subject to our T&C.  SCMP (as defined in T&C) shall not be liable for any loss, damage and costs relating to any investments in securities or otherwise in this connection.



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Stocks

Hang Seng gains on hopes for stimulus out of China 

Visitors enjoy Beijing's popular Temple of Heaven on May 10, 2020. Photo: Associated Press

Business

Movie-related stocks jump as cinemas reopen in China and Hong Kong
Sunny Optical rockets on reports of boost in shipments of glass lenses, camera modules 


Movie-related stocks jump as cinemas reopen in China and Hong Kong. Sunny Optical, Alibaba, Tencent also have great days.
 


China stock market

Hang Seng Index

Live

China’s central bank said on Sunday it will step up counter-cyclical measures to support its economy from the impacts of the coronavirus, Reuters reported.
The People’s Bank of China (PBOC) said it will make monetary policy more flexible to fend off financial risks against the economy and focus on growth and job security.
The central bank indicated it would maintain a “normal” monetary policy, implying that  quantitative easing  may not be in the PBOC’s playbook, said Jeffrey Halley, senior market analyst at OANDA.
“The PBOC's intention to more proactively support the Chinese economy is likely to boost equities across Asia today,” Halley added.
The PBOC also said it will continue to deepen lending rate reforms, improve the monetary policy transmission mechanism and guide lending rates lower. In its first-quarter monetary policy implementation report, the central bank added that it would deepen foreign exchange market reform and keep the yuan flexible and stable.What measures has China used to combat the economic impact of Covid-19? Read more here.
-- Kathleen Magramo


China’s central bank signals more policies to support economy from Covid-19 fallout

Overnight markets/what futures foretell
  - The S&P 500 rose 1.7 per cent, the Dow Jones gained 1.9 per cent and the Nasdaq increased 1.6 per cent. Europe’s Stoxx 50 Index rose 1 per cent.  - Hong Kong futures were up 0.4 per cent, while the FTSE China A50 futures rose 0.5 per cent.
IPO debuts: Linkage Software (688588 CH) makes it trading debut on the mainland.
Economic data and central bank action: Nothing major scheduled.
Earnings: None to note.


Morning guidance

Mainland securities regulator will officially kick off the IPO reform on the ChiNext market at the Shenzhen Stock Exchange in August, according to the state-owned Securities Times.
The newspaper, citing unidentified sources, said the Shenzhen bourse had solicited options from brokerages on implementing the registration-based IPO system, which will largely facilitate companies’ fundraising on the mainland stock market.
In late April, the Chinese leadership endorsed a plan to let the start-up board in Shenzhen embark on the share sale mechanism on the Nasdaq-style Star Market on the Shanghai Stock Exchange.
-- Daniel Ren


ChiNext market to ease IPO rules in August

China’s regulator has launched an investigation into China Citic Bank (601998 CH) for suspected leakage of client information.
On Saturday, the China Banking and Insurance Regulatory Commission accused the Beijing-based lender of revealing de­tails of a client’s per­sonal bank ac­count trans­ac­tions to third par­ties with­out the au­tho­ri­sa­tion of the clients.
The ac­tions are sus­pected of breaching Chi­na’s com­mer­cial bank­ing law and relevant rules, the regulator said.
The suspected misconduct also caused harm to the in­for­ma­tion se­cu­rity rights and con­sumer rights of the client, the regulator said.
– Daniel Ren


Regulator launches probe into Citic Bank

Japan’s Nikkei 225 advanced 1.3 per cent, boosted by expectations that the government will lift its nationwide state of emergency in parts of the country this week.
South Korea’s Kospi gained 0.1 per cent, while the tech-heavy Kosdaq rose 0.2 per cent.In Australia, which is battling to stave off its worst recession in decades, the S&P/ASX200 went up 1.1 per cent.New Zealand’s S&P/NZX50 gained 0.1 per cent.
Singapore's Straits Times Index rose a teensy 0.01 per cent.
-- Gigi Choy


Asia-Pacific markets gain

The Shanghai Composite Index was up 0.2 per cent to 2901.57 at the open.
Meanwhile, the CSI 300 gauge of large-caps listed in Shanghai and Shenzhen rose 0.3 per cent to 3974.76 and the tech-focused ChiNext fell 0.6 per cent to 2137.98.
Apple AirPod makers advanced.
Luxshare Precision Industry (002475 CH) climbed 1.1 per cent to 47.79 yuan and Goertek (002241 CH) added 1.2 per cent to 21.01.
The world’s most valuable liquor distiller Kweichow Moutai (600519 CH) advanced 0.4 per cent to 1,320 yuan.
China's largest construction equipment maker Sany Heavy Industry (600031 CH) picked up 0.3 per cent to 20.46 yuan.
Meanwhile, Jiangsu Hengrui Medicine (600276 CH) was down 0.4 per cent to 96.70 yuan.
-- Kathleen Magramo


China markets start the day higher

The Hang Seng Index advanced 1.6 per cent to 24,618.90.
Index heavyweight Tencent (700 HK) rose 2 per cent to HK$426.
E-commerce giant Alibaba (9988 HK) gained 2.2 per cent to HK$197.70.
HSBC (5 HK) advanced 1 per cent to HK$39.95. The world's biggest pork processor WH Group (288 HK) advanced 1.7 per cent to HK$7.25. Its US subsidiary Smithfield Foods reopened its plant in Sioux Falls, South Dakota -- which handles up to 5 per cent of US pork production -- on Thursday after it shut down on April 12 after hundreds of employees contracted the new coronavirus.
-- Gigi Choy


Alibaba, Tencent see strong gains out of the gate

Linkage Software Company (688588 CH)   skyrocketed 291.7 per cent to 45.01 yuan against a listing price of 11.49 yuan on Shanghai’s Nasdaq-like Star Market.  
It provides financial software development and solutions for Japanese and Chinese companies.
There is no limit on the first week of trading for IPOs on the Star Market. Such stocks are not available to northbound traders on the Stock Connect.
-- Kathleen Magramo 


Star Market IPO surges

In Hong Kong, the biggest turnover stocks are Tencent (700 HK), which rose 2.5 per cent to HK$428.80; Xiaomi (1810 HK), which surged 4.1 per cent to HK$11.66; and Alibaba (9988 HK), which went up 2.8 per cent to HK$198.90.
The top blue chip gainers are Techtronic Industries (669 HK), which jumped 3.5 per cent to HK$67.20; AAC Technologies (2018 HK), which rose 2.9 per cent to HK$40.20; and PetroChina (857 HK), which gained 2.2 per cent to HK$2.76.The biggest loser is Wharf REIC (1997 HK), which fell 0.7 per cent to HK$33.35.
-- Gigi Choy


Hong Kong: Biggest turnover stocks; blue chip gainers and losers

The largest Northbound turnover stocks to Shanghai include:
  -- Jiangsu Zhongtian Technologies (600522 CH) which shot up 8.8 per cent to 12.49 yuan. It manufactures fibre optic cables.  --  Supercomputer manufacturer Dawning Information Industry (603019 CH) which shed 1.5 per cent to 40.20 yuan.  --  A-shares of Ping An Insurance (601318 CH) which rose 2.2 per cent to 74.60 yuan.
Hot stocks on Northbound trading to Shenzhen are:
-- Gree Electric (000651 CH), which jumped 3.5 per cent to 59.00 yuan. It is China’s largest residential air-conditioner manufacturer.  -- Electronic components producer BOE Technology (000725 CH), which shot up 4.2 per cent to 4.02 yuan.  -- Telecommunications equipment maker ZTE Corp.  (000063 CH) which gained 1.6 per cent to 43.15 yuan.
Southbound traders like:   
-- China Tower (788 HK) which rose 1.7 per cent  to HK$1.73. It provides telecommunication towers construction services.  -- Smartphone and home appliances maker Xiaomi (1810 HK) which jumped 5 per cent to HK$11.76.  -- GCL-Poly Energy Holdings  (3800 HK) which slipped 0.4 per cent  to HK$0.24. It makes polysilicon and wafers for solar industry.
-- Kathleen Magramo


Stock Connect: Biggest turnover stocks

Sunny Optical (2382 HK) soared 7.5 per cent to HK$124.40, with the stock on track to gain six out of the last eight sessions.
Investors liked the numbers in the company's voluntary announcement on shipment volume last month, which was released after trading hours on Friday.
Shipments of spherical glass lenses shot up 63.8 per cent year-on-year and that of handset camera modules jumped 12.7 per cent year-on-year.
Daiwa Capital Markets said Sunny Optical remains a sector top pick and expects the company to benefit from favourable long-term industry trends and resume strong growth of 35 per cent year-on-year in 2021.
"Looking ahead, although we view Sunny as not immune to smartphone volume risks on Covid-19 given its major camera module/lens supplier position for Android smartphones, we believe it should continue to benefit from the favourable industry trends of rising adoption of multi cams as well as ongoing spec upgrades," analysts wrote in a note.
Last week, BOCOM International reiterated its buy rating on Sunny Optical after Huwaei reported shipment growth in China in the first quarter -- the only big Chinese smartphone maker to do so.
-- Gigi Choy   


Sunny Optical rockets after voluntary announcement on April shipment volume

Entertainment stocks climbed as China and Hong Kong begin to reopen cinemas as coronavirus social distancing measures are relaxed.
China’s biggest movie ticketing app Maoyan Entertainment (1896 HK) rose 3.3 per cent to HK$11.40. Alibaba Pictures (1060 HK) shot up 6 per cent to HK$1.06. It produces TV shows and films and operates online-to-online (O2O) platforms for e-commerce giant Alibaba (9988 HK), the parent company of the South China Morning Post.
Theatre systems company IMAX China (1970 HK) jumped 5.3 per cent to HK$12.44.
-- Kathleen Magramo


Movie-related stocks jump as cinemas reopen in China and Hong Kong

Hong Kong police arrested more than 250 people in Mong Kok on Sunday night following a day of anti-government protests across the city. The protests weighed on market sentiment last year, especially hammering mall owners and retailers including Sa Sa International (178 HK).
Demonstrators returned to malls across the city to slogans and sang protest songs as police demanded the crowds leave, saying that they were violating social-distancing measures that limit public gatherings to a maximum of eight people to curb the spread of the coronavirus.
The Hang Seng Index has fallen 15 per cent since the demonstrations turned violent on July 1, when protesters stormed the Legislative Council on the anniversary of Hong Kong's handover to China.
Since April 26, when hundreds gathered in City Plaza to chant slogans, Hong Kong has seen a revival of protests, which had died down because of the coronavirus pandemic.
Read more here.
-- Gigi Choy 


Hong Kong protests heating back up

The Shanghai Composite Index had gained a small 0.1 per cent to 2,899.01 at the break.
The CSI 300 gauge of large-caps listed in Shanghai and Shenzhen rose 0.2 per cent to 3,971.99.
Meanwhile, the tech-focused ChiNext shed 0.9 per cent to 2,105.98. Regulators will start the IPO reform on the Shenzhen stock exchange in August.
Luxshare Precision Industry (002475 CH) turned down 1 per cent to 46.80, while Goertek (002241 CH) jumped 2.4 per cent to 21.25 yuan. They both make Apple AirPods.
Liquor distiller Kweichow Moutai (600519 CH) climbed 0.5 per cent to 1,321.20 yuan. Ping An Insurance (601318 CH) gained 1.6 per cent to 74.12 yuan.
China's largest construction equipment maker Sany Heavy Industry (600031 CH) advanced 1.8 per cent to 20.47. Jiangsu Hengrui Medicine (600276 CH) declined 3.1 per cent to 94.08 yuan.
Stocks related to cement and construction materials rose 2.8 per cent, shipbuilding industries gained 2.1 per cent and the automotive industry climbed 1.2 per cent.
-- Kathleen Magramo


Shanghai edges up at the break, Luxshare Precision slips

Chinese software firm Kingsoft (3888 HK) fell 1.4 per cent to HK$27.80. However, as of Friday's close, the company has been up five of seven sessions and stayed flat for one.
The stock has jumped 30 per cent since March 23, which is when the Hang Seng Index last crashed due to the coronavirus. In comparison, the benchmark gained 6.3 per cent over the same period.
Its cloud storage spin-off Kingsoft Cloud made its trading debut on Nasdaq under the ticker "KC" on Friday, soaring 40.2 per cent to US$23.84. The company raised US$510 million by offering 30 million shares priced at US$17 each.
This was the first major initial public offering by a Chinese company since the high profile accounting scandal at Luckin Coffee.
-- Gigi Choy


Kingsoft down despite spin-off raising over half a billion dollars on Nasdaq debut

The Hang Seng Index jumped 2 per cent to 24,706.50.
Internet titan Tencent (700 HK) rose 2.3 per cent to HK$428, while Alibaba (9988 HK) advanced 2.8 per cent to HK$198.90.
Top blue chip gainers include Sunny Optical (2382 HK), which shot up 6 per cent to HK$122.60; Sands China (1928 HK), which gained 4 per cent to HK$32.30; and Sinopec (386 HK), which went up 3 per cent to HK$3.81.
-- Gigi Choy


Hang Seng gains 2 per cent in morning session

Hang Seng up 1.7 per cent to 24,643.16

Hong Kong Stock Exchanges and Clearing, or HKEX, (388 HK) jumped 3 per cent to HK$250.20, after falling in the past two sessions.
HKEX chief executive Charles Li Xiaojia will not seek reappointment when his current term expires at the end of October next year, according to a stock exchange filing on Thursday.
-- Gigi Choy


HKEX on track to gain for the first time since news of longtime chief stepping down next year

The business model of Budweiser APAC (1876 HK) has “serious vulnerabilities” in terms of its earnings and cost structure, says London-based investment research firm Tellimer rated. It started coverage of the brewer as a “sell” -- the first only “sell” rating for the beer maker.
Asia’s largest brewer by market share posted a net loss of US$41 million in the first quarter and its volumes declined 42 per cent in the region as bars and restaurants were forced shut to curb the spread of Covid-19.
“The main problem with Budweiser APAC is that it's a roll up company that aims to generate growth through acquisition as opposed to organic growth,” said Nirgunan Tiruchelvam, Tellimer’s head of consumer equity research.
He added that the company has higher fixed costs and depreciation expenses, which will further hammer already beaten down earnings compared to rivals China Resources Beer (291 HK) and Tsingtao Brewery (168 HK).
The brewer’s aim of generating growth through premiumisation seems unrealistic as consumer spending reels back because of the economic impacts of the pandemic, he said.
Tellimer’s analysts expect Budweiser APAC’s earnings to contract by 28 per cent in 2020 and  shrink 13 per cent between 2019 to 2021.
They believe Budweiser APAC is overvalued in terms of its price-to-earnings and price-to-book ratio, with a 34 per cent downside.Among analysts tracked by Bloomberg, 15 call it a “buy”, two say its a “hold”, while one rates it as a “sell”.Budweiser APAC’s share price slumped 24 per cent in the first quarter and have rallied about 15 per cent since April 1.
The shares are getting some revenge against Tellimer’s opinion today -- they have shot up up 4.7 per cent to HK23.40. 
-- Kathleen Magramo


‘Sell’ Budweiser APAC, says Tellimer Research

Airline shares rose amid signs of a rebound in domestic travel in China.
China Eastern (670 HK) (600115 CH) rose 2.1 per cent to HK$2.96 and gained 0.5 per cent to 4.26 yuan.
China Southern (1055 HK) (600029 CH) jumped 2.6 per cent to HK$3.54 and went up 0.8 per cent to 5.24 yuan. Air China (753 HK) (601111 CH) advanced 2.3 per cent to HK$5.23 and stayed flat at 6.96 yuan.
Meanwhile, Hong Kong’s de facto flag carrier Cathay Pacific Airways (293 HK) rose 0.4 per cent. The airline is looking at "structural change" to downscale its business, which may include further job losses with pilots in the firing line.
-- Gigi Choy


Shares of Chinese Airlines and Cathay Pacific take off again

Macau casino operators are having a good day, with investors pinning hopes on a quick rebound in gambling after coronavirus-related travel restrictions are relaxed in the world's largest gaming hub.
Sands China (1928 HK) jumped 3.9 per cent to HK$32.30. Melco International (200 HK) rose 2.7 per cent to HK$15.10. Wynn Macau (1128 HK) gained 2.1 per cent to HK$14.44.
SJM Holdings (880 HK) advanced 2 per cent to HK$8.26. Galaxy Entertainment (27 HK) gained 1.3 per cent to HK$54.40. MGM China (2282 HK) rose 0.8 per cent to HK$9.63.
-- Gigi Choy


Investors getting a win today on Macau casinos

The Shanghai Composite Index fell 0.1 per cent to 2,891.36.
The CSI 300 gauge of large-caps listed in Shanghai and Shenzhen declined 0.2 per cent to 3,957.63.
The Shenzhen Component Index retreated 0.5 per cent to 10,944.44.
Meanwhile, the tech-focused ChiNext fell 1.3 per cent to 2,097.71.
Luxshare Precision Industry (002475 CH) fell 2 per cent to 46.29, while Goertek (002241 CH) gained 2.2 per cent to 21.22 yuan. They both make Apple AirPods.
Liquor distiller Kweichow Moutai (600519 CH) rose 0.2 per cent to 1,317.32 yuan.
 -- Gigi Choy


China markets turn down

Investors hopeful on China’s top-level annual political and economic meeting starting on May 22 may be disappointed.
The Two Sessions meeting, which was pushed back from March to keep the coronavirus outbreak under control, has boosted stocks linked with construction and infrastructure investments which the central government sees as crucial to saving its economy.
Yet historically, the Shanghai Composite fell by an average of 0.2 per cent during the Two Sessions meeting in the last two decades.
Read more here.
  -- Kathleen Magramo


ICYMI: Traders pin hopes in China’s top annual political meeting

Maoyan Entertainment (1896 HK) jumped 3.3 per cent to HK$11.40.
Chinese smartphone maker Xiaomi rose 1.8 per cent to HK$11.40.
Online health platform Ali Health (241) gained 0.9 per cent to HK$18.40, while Ping An Good Doctor (1833 HK) went up 0.6 per cent to HK$109.10.
Meanwhile, Kingsoft (3888 HK) tumbled 3.5 per cent to HK$27.20. Its cloud storage spin-off soared 40 per cent on its Nasdaq debut on Friday.
Food delivery giant Meituan Dianping (3690 HK) dropped 3.4 per cent to HK$107.80. NetDragon Websoft (777 HK), a Chinese online gaming company offering learning products, fell 1.9 per cent to HK$21.05.
-- Gigi Choy


New economy stocks mixed

Shares of Chinese hog breeders and feed producers are falling after the wholesale pork price decline accelerated in the first week of May, Bloomberg reports, citing data released Saturday by China’s Ministry of Agriculture and Rural Affairs.
Muyuan Foodstuff (002714 CH), the nation’s biggest listed pig breeder, dropped 5.3 per cent to 116.78 yuan.
China's major feed and meat producer New Hope Liuhe (000876 CH) tumbled 4.9 per cent to 30.83 yuan.
Smaller rival Jiangxi Zhengbang Technology (002157 CH) plunged 6.3 per cent to 17.26 yuan.
Animal feed company Guangdong Haid Group (002311 CH) fell 2.5 per cent to 43.35 yuan.
Meanwhile, Hong Kong-listed WH Group (288 HK) -- the world's top pork processor -- rose 1.1 per cent to HK$7.21. It owns Smithfield Foods, which reopened its processing plant in Sioux Falls, South Dakota -- the ninth-largest in America -- on Thursday after US President Donald Trump ordered the American meatpacking industry to stay open amid fears of food shortages.
Here’s a feature for investors about China's high-flying pork stocks.


Chinese pork companies having a bad day

The Shanghai Composite Index slipped 0.02 per cent to 2,894.80.
The CSI 300 gauge of large-caps listed in Shanghai and Shenzhen declined 0.1 per cent to 3,960.18.
The Shenzhen Component Index fell 0.3 per cent. The tech-focused ChiNext shed 1.1 per cent to 2,102.83.
Luxshare Precision Industry (002475 CH) fell 1.3 per cent to 46.64 yuan, while Goertek (002241 CH) jumped 2.4 per cent to 21.26 yuan. They both make Apple AirPods.
Liquor distiller Kweichow Moutai (600519 CH) climbed 0.6 per cent to 1,323.01 yuan. Ping An Insurance (601318 CH) advanced 1.3 per cent to 73.90 yuan.
China's largest construction equipment maker Sany Heavy Industry (600031 CH) rose 0.6 per cent to 20.52.
Jiangsu Hengrui Medicine (600276 CH) tumbled 3.5 per cent to 93.68 yuan.
The shipbuilding industry rose 2.3 per cent, while stocks related to cement and construction materials gained 2.2 per cent, according to gauges tracked by EastMoney.
-- Gigi Choy


China benchmarks end the day lower

Christine International Holdings (1210 HK), a mainland-based chain of retail bakeries, surged by as much as 500 per cent to 78 Hong Kong cents.
The stock probably got a boost from the announcement by China’s State Council that will allow cinemas, libraries, museums and other public places to be opened to the public after shutdown because of the Covid-19 pandemic.
Christine has its business mainly operating in China’s Yangtze River delta region, according to its website. The stock recently traded at 70 Hong Kong cents.
-- Zhang Shidong


China bakery chain Christine jumps 500 per cent in Hong Kong

The Hang Seng Index ended the day up 1.5 per cent to 24,602.06 -- closing above 24,500 for the first time since April 29, when it closed at 24,643.59.
The positive momentum may lead the city’s benchmark to test 25,000 again this week, said Alan Li, portfolio manager at Atta Capital. It last traded above 25,000 two months ago on March 11, when it closed at 25,231.61.
Chinese news reports -- not independently confirmed by the South China Morning Post -- said that JD.com, the e-commerce giant that trades in the US on the Nasdaq, will kick off its secondary listing in Hong Kong on May 25 and aim to list next month. The SCMP earlier confirmed that JD.com is planning a secondary listing in the city, following rival Alibaba, the owner of the Post.  Mainland investors hope to eventually be able to buy such homegrown favourites through the Stock Connect, the trading link between Hong Kong and the mainland.
Hong Kong Stock Exchanges and Clearing, or HKEX, (388 HK) rose 3 per cent to HK$250.
“Hong Kong stocks followed the rally and optimistic sentiment of the US last Friday,” said Li. “Also [the rally was] triggered by JD starting public offer for its second listing in Hong Kong this month. HKEX and tech stocks led the rally.”
Entertainment stocks did well, as China and Hong Kong began to reopen cinemas.
IMAX China (1970 HK) shot up 6.4 per cent to HK$12.58. Alibaba Pictures (1060 HK) jumped 4 per cent to HK$1.04. Maoyan Entertainment (1896 HK) advanced 3.8 per cent to HK$11.46.
Top blue chip winners include Sunny Optical (2382 HK), which surged 4.2 per cent to HK$120.60; Tencent (700 HK), which gained 4 per cent to HK$435; and Sands China (1928 HK), which rose 3.4 per cent.
Meanwhile, Alibaba (9988 HK) went up 2.7 per cent to HK$198.70.
-- Gigi Choy and Deb Price


Latest reports on JD.com plans in Hong Kong boost sentiment, says Alan Li

Chinese e-commerce giants JD.com could offer share subscriptions on May 25 on the Hong Kong stock exchange, raising as much as US$3.4 billion, many mainland Chinese media outlets reported. The reports were posted widely on Chinese financial media sites, saying the company could list by June this year.
JD.com's investor relations team could not immediately be reached to respond to the media reports. However, the reports, read by investors and discussed in Hong Kong, boosted sentiment in the city, according to analyst Alan Li of Atta Capital. 
The Nasdaq-listed rival of Alibaba (9988 HK) has confidentially filed for a second listing with the Hong Kong stock exchange, which the Post reported could raise US$2 billion, according to three people familiar with the matter. Bloomberg in its reporting also used the US$2 billion figure. At that US$2 billion level, it would be the biggest listing in the city so far this year.
-- Kathleen Magramo


Online retailer JD.com could start Hong Kong share offering by May 25, Chinese media report

Hong Kong stocks will remain fairly volatile, on uncertainties around the coronavirus, US-China relations and the US presidential election, said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai.
Check out Wen’s advice to investors about Ping An Good Doctor and Ali Health, the “Two Sessions” political meeting and other key drivers of Hong Kong Stocks:
 



Hong Kong stocks to remain ‘fairly volatile’ on uncertainties, predicts Kenny Wen

Dozens of Hong Kong-listed companies will be releasing their first quarter results this week. Some of note include:
Tuesday:
-- Integrated circuits producer PacRay International (1010 HK)
Wednesday:  -- Internet giant Tencent (700 HK)
Thursday:
--  Semiconductor Manufacturing International Corporation (981 HK), better known as SMIC  -- Travel accessories retailer Samsonite International (1910 HK)
Friday:
--  AAC Technologies (2018 HK), which is a major supplier of miniature acoustic and non-acoustic components to smartphone makers   
-- Kathleen Magramo


Hang Seng gains on hopes for stimulus out of China

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}Movie-related stocks jump as cinemas reopen in China and Hong Kong Sunny Optical rockets on reports of boost in shipments of glass lenses, camera modules

Movie-related stocks jump as cinemas reopen in China and Hong Kong

Sunny Optical rockets on reports of boost in shipments of glass lenses, camera modules