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Martin Choi

Deb Price

Good day, traders --
Optimism about trade talks that are starting soon in Washington sparked gains in both Hong Kong and mainland markets,
Catch up on the day's action below.
And if you'd like to get the Live Stocks Blog each morning via email, shoot Deb an email at deb.price@scmp.com and she'll add you to the list!  
-- Deb Price and Martin Choi in Hong Kong


Hong Kong stocks snap 5-day slide on tech rebound as US equities hit correction mode

Apple supplier Lens Technology joins list of Chinese firms planning Hong Kong IPOs

Hong Kong stocks drop for fifth day as fears of trade-war fallout mount

Hong Kong finance chief sees US$20 billion of IPOs this year on China tech optimism

Hong Kong Stock Exchange

Stocks Blog: Hong Kong , mainland China stocks get boost on optimism about trade talks

Pork producer WH Group is among stocks gaining today in Hong Kong, as sentiment got a boost on optimism that something positive may happen in US-China trade talks. Here, pigs in China. Photo: Associated Press 

A woman swims in a rooftop pool at a luxury hotel overlooking Hong Kong's breathtaking skyline. Photo: Shutterstock Images

A pedestrian walks past the Bund Bull statue in Shanghai on October 24, 2018. Photo: Bloomberg 

Business

Markets


Hikvision, Dahua plunge after resuming trading following US trade ban
360 Ludashi closes up a whopping 218.5 per cent in its trading debut



The big winner of the day was 360 Ludashi, a Chinese software developer, which closed up more than 200 per cent in its trading debut in Hong Kong. 


US-China trade war

Trade war

China stock market

Tencent

Kweichow Moutai

Hong Kong protests

NBA (National Basketball Association)

Live

Overnight markets/ What futures foretell:
– Overnight in US markets, the S&P 500 rose 0.9 per cent, the Nasdaq climbed 1.02 per cent and the Dow Jones Industrials rose 0.7 per cent.
-- Hong Kong futures were 0.19 per cent higher, while the FTSE China A50 futures slid 0.4 per cent.
IPO debuts: Chinese software developer 360 Ludashi Holdings (3601 HK) and Chinese sportswear retailer Topsports International Holdings (6110 HK) start trading on Hong Kong’s main board today.
Economic statistics/Central Bank action: None to note
Corporate events, earnings, meetings, news conferences: Nothing major


Morning guidance 

CWT International (521 HK), a unit of China’s indebted HNA Group, said on Wednesday night that it plans to sell property investment in Britain and the US as well as its sports and leisure related facilities business in the mainland China to repay debts.
The company also plans to focus on logistic business so it will dispose of businesses not related to the logistic services.
The company has been actively seeking buyers for these assets. The company has been voluntarily suspended from trading since April after it defaulted on a HK$1.4 billion (US$179 million) loan. The company in August has successfully negotiated with the lenders to expand the loans to HK$1.63 billion while the repayment period would extend for a year.  The company is actively seeking to repay the debt and seeking for the resumption of trading.  
Before the suspension, the company last traded at 13.2 HK cents.
-- Enoch Yiu    


CWT International to sell property to repay debt

Fashion retailer Bauhaus International (0483 HK) issued a profit warning that it expects its net loss for the six months to the end of September 30 to be increased between HK$60 million to HK$95 million as compared to the same period last year at HK$55.9 million. 
The unfavourable results, it said, were due to the retail market being hit hard by social unrest in Hong Kong since June 9. 
Its sales in Taiwan also dropped substantially. 
The group said it has sufficent cash for its business operation needs while it will negotiate with the landlords for rent reductions. It will also seek ways to reduce staff costs, marketing expenses, other selling and administration costs and shop renovation expenditures. The group has also been launching more promotional campaigns with attractive discounts to boost sales. 
Bauhaus closed unchanged at HK$1 on Wednesday.   
-- Enoch Yiu    


Bauhaus International issues profit warning

Fastfood shop Fairwood Holdings (52 HK) issued a profit warning of a significant decline in profits attributable to shareholders for the six months to the end of September. 
The decline, it said, was mainly due to a change of accounting standard on how to handle its lease. It is also due to an increase in staff costs and rental payments. 
The company will announce its results on November 30. The fastfood chain closed 2.4 per cent lower to HK$20.65 on Wednesday.
 -- Enoch Yiu    


Fastfood shop Fairwood warns of significant profit drop 

Fosun Tourism Group (1992 HK) said Atlantis Sanya -- the tourism destination of the group located on the Haitang Bay National Coast of Sanya in Hainan Province of China -- saw strong business performance totalling 48.2 million yuan during the Golden Week holiday, the seven-day period from October 1 to 7 during the Chinese National Holiday. That was up 17 per cent from the same period a year earlier.  
Room revenue was 26.8 million yuan, with an occupancy rate at 86 per cent, while the aquarium, water theme parks as well as food and beverage, brought in about 21.4 million yuan. 
The company closed 0.6 per cent lower on Wednesday at HK$10.08.
 -- Enoch Yiu    


Fosun reports strong business performance during 'Golden Week'

Restaurant operator LH Group (1978 HK) announced it will close three shops immediately on Wednesday. 
The company blamed the current challenging business environment for the food and catering industry in Hong Kong for its move to temporarily suspend the operation of three restaurants. They are the Yoogane restaurant in New Town Plaza in Sha Tin, as well as two Mou Mou
Club restaurants located in King Wah Centre, Mongkok and the World Trade Centre, Causeway Bay. 
The company closed 1.7 per cent lower on Wednesday at 57 HK cents.
 -- Enoch Yiu 


LH Group to close three restaurants, citing poor business environment

The Hang Seng Index is down 0.5 per cent at 25,563.17.
Here how some of the index heavyweights are trading:
-- HSBC Holdings (5 HK) is down 0.4 per cent at HK$57.10
-- Tencent Holdings (700 HK) is up 0.06 per cent to HK$318.40
-- AIA Group (1299 HK) is down 1 per cent at HK$71.75
-- China Construction Bank Group (939 HK) is down 0.16 per cent at HK$5.95 
-- Ping An Insurance Group (2318 HK) is up 0.05 per cent at HK$90.60
Noteworthy others: 
-- Budweiser Brewing APAC (1876 HK) is down 0.3 per cent at HK$32.40 
-- Li Ning (2331 HK) is down 1.6 per cent to HK$24.65
-- Deb Price    


Hang Seng opens down 

Chinese software developer 360 Ludashi Holdings (3601 HK) and Chinese sportswear retailer Topsports International Holdings (6110 HK) started trading on Hong Kong’s main board today.
360 Ludashi’s shares jumped 48.1 per cent to HK$4 from an initial public offering price of HK$2.7. It is now trading at HK$5.3.
Topsports International opened flat at HK$8.5, the same as its offer. It is now trading at HK$8.87.
Ludashi 360 was the largest PC and smartphone hardware and system benchmarking and monitoring solution provider in China by user base in 2018, occupying almost 99 per cent and 59 per cent of the market share based on the monthly active users for PCs and mobile devices, respectively.
Topsports International, operating more than 8,000 stores in China, was the largest sportswear retailer in the country by estimated total retail-equivalent sales value in 2018, with a 16 per cent market share.
Chinese software developer 360 Ludashi (3601 HK) and Chinese sportswear retailer Topsports International (6110 HK) started trading on Hong Kong’s mainboard today.@SCMPNews@scmpbusiness@HKEXGroup pic.twitter.com/WuACVx2Ptv
— Holly Chik (@hollycwchik) October 10, 2019
-- Holly Chik


Ludashi Holdings, Topsports bang the gong in Hong Kong

The Shanghai Composite Index is trading up a bit, by 0.12 per cent to 2,930.
Here are the 10 most actively traded stocks on the northbound Stock Connect to Shanghai on Wednesday, according to the Hong Kong stock exchange, and how they are doing in early trading.
These saw more buying than selling on Wednesday.
-- Kweichow Moutai (600519 CH) is down 1.44 per cent to 1,130.30 yuan
-- China Merchants Bank (600036 CH) is down 0.11 at 35.14 yuan
-- Shanghai International Airport (600009 CH) is up 2.6 per cent to 80.18 yuan
-- Shangdong Gold Mining (600547 CH) is down 0.34 per cent to 35.15 yuan
-- Poly Developments and Holdings (600048 CH) is down 0.45 per cent to 15.60 yuan
These saw more selling than buying on Wednesday:
-- China International Travel Service (601888 CH) is down 0.97 per cent to 92.35 yuan  
-- Ping An Insurance (601318 CH) is down 0.2 at 88 yuan
-- Jiangsu Hengrui Medicine (600276 CH) is up 0.39 per cent to 79 yuan
-- Industrial Bank (6001166 CH)  is up 0.98 per cent at 7.22 yuan
-- Shengyi Technology (600183 CH) is up 0.7 per cent at 25.80 yuan
-- Deb Price    


Shanghai trading up a bit

Jack Ma, 55, who retired as chairman of Alibaba last month, retained the top spot on the 2019 China Rich List, with US$39 billion. (Alibaba owns the South China Morning Post.)
Tencent’s Pony Ma, 48, rose one place to be the second richest person on the annual ranking of China's wealthiest by Hurun Report, with US$37 billion. He overtook property developer Xu Jiayin, who had US$30 billion.
“The China Rich List is now looking like a two-horse race,” Rupert Hoogewerf, chairman and chief researcher of Hurun Report, said in a statement on Huran's website.
Twenty-two individuals from Shanghai’s newly launched STAR (science and technology innovation) board also made the list, led by Chen Wenyuan, 51, and Zhang Qian, 38, co-founders of electronic display test equipment maker Suzhou HYC Technology.
In morning trading, Tencent (700 HK) is flat at HK$318.20.
Suzhou HYC Technology (688001 CH) is up 0.8 per cent to 46.75 yuan.
-- Martin Choi


Jack Ma is still China's richest person, says Hurun Report

Fastfood shop Fairwood Holdings (52 HK) fell 5.8 per cent to HK$19.46 after issuing a profit warning of a significant decline in profits for the six months to the end of September. 
The decline, it said, was mainly due to a change of accounting standard on how to handle its lease. It is also due to an increase in staff costs and rental payments. 
-- Deb Price    


Fairwood Holdings drops nearly 6 per cent on warning its profits will decline significantly in first half

Restaurant operator LH Group (1978 HK) dropped 3.5 per cent to HK$ 0.55 after saying it is is temporarily closing three shops due to the challenging business environment for the food and catering industry in Hong Kong.
It is closing Yoogane restaurant in New Town Plaza in Sha Tin, and two Mou Mou Club restaurants in King Wah Centre in Mongkok and in the World Trade Centre in Causeway Bay. 
 -- Deb Price    


LH Group falls 3.5 per cent after saying it is closing three restaurants

Hangzhou Hikvision Digital Technology (2415 CH) and Zhejiang Dahua Technology (2236 CH), makers of video surveillance equipment, saw shares drop sharply after they resumed trading.
Hikvision dropped 7.46 per cent to 29.89 yuan, while Dahua dropped 8.45 per cent to 15.81 yuan.
Both were temporarily suspended beginning on Tuesday after the US added them to its trade blacklist.
-- Martin Choi


Hikvision, Dahua plunge after resuming trading following US trade ban

Sports retailers are having a good morning in Hong Kong and the mainland, benefiting from the uproar in China over a tweet by an NBA team manager in support of protesters in the city.
As Zhang Shidong and Pearl Liu report this morning, shares of Chinese sportswear makers and other sponsors of the Chinese Basketball Association (CBA) have gained from the row that has put the US National Basketball Association (NBA)’s future in China in jeopardy.
The shares of Li-Ning (2331 HK), Dongguan Winnerway Industrial Zone (000573 CH) and Qingdao Doublestar (000599 CH) jumped by at least 4 per cent in Hong Kong and Shenzhen on Wednesday.
Today, Li Ning is up 1.9 per cent at HK25.55, Dongguan Winnerway is down 0.3 per cent to 3.13 yuan, and Qingdao Doublestar hit the daily 10 per cent limit at 5.59 yuan.
Other sports retailers are up as well. 
Yue Yuen Industrial Holdings (551) is up 1.7 per cent to HK$21.05, while Anta Sports (2020 HK)  is up 2.1 per cent to HK$69.25.
-- Deb Price    


Sports retailers scoring off uproar over NBA tweet

Information technology, consumer staples and consumer discretion are winners this morning on the Hang Seng Index.
AAC Technology Holdings (2018 HK), a supplier to Huawei and Apple, shot up 6.3 per cent to HK$44.60, making it the top percentage gainer this morning.
Geely Automobile (175 HK) is up 3.9 per cent to HK$14.02.
Pork producer WH Group (288 HK) is up 4.4 per cent to HK$7.36. According to a Bloomberg story,  Arnold Silver of WH Group's Smithfield Foods said next year could see ham and pork belly shortages as China buys more as it reels from African Swine Fever.
Sanitary napkin and diaper maker Hengan International (1044 HK) was up 3.9 per cent to HK$51.10. J.P. Morgan upgraded it to neutral from underweight on Wednesday, with a price target of HK$49. Analysts have lowered their expectations on the stock by 9.9 per cent in the last three months, according to Bloomberg. The company is facing intense competition from foreign rivals in the high-stakes China market.
China Mengniu Dairy (2319 HK) is up nearly 4 per cent to HK$31.55, following its announcement it is cutting commercial ties with the NBA over the controversy set off by a team manager's tweet in support of Hong Kong protesters. 
Also of note in Hong Kong trading:
Li Ning (2331 HK) is up 0.2 per cent to HK$25.10, after rising to a new 52 week high of HK$25.75. Of analysts covering it tracked by Bloomberg, 27 rate it a buy, six a hold and none a sell, with a consensus 12-month target price of HK$24.25 -- lower than it is trading now. It is up nearly 200 per cent this year. 
Budweiser Brewing APAC (1876 HK) is down 2 per cent to HK$31.85. It is up about 18 per cent since it started trading just over a week ago on September 30. 
The Hang Seng is trading up 0.2 per cent at 25,737.86.
 

-- Deb Price 


Hang Seng getting a boost from soaring AAC, WH Group and Geely Automobile

Offshore yuan (CNH) has surged on speculation that the US trade negotiators could dust off a currency pact that was agreed on with China earlier this year, as part of a broader agreement to resolve the current stand-off.
The Chinese currency strengthened by almost 1 per cent in offshore markets to 7.1000 per US dollar, after Bloomberg reported that the currency pact could be revived, citing unidentified sources familiar with the trade talks.
-- Eugene Tang


Offshore yuan strengthens on speculation about way to end trade impasse

The State Council -- China's Cabinet -- put out a circular on changes to the distribution of tax revenue between central and local  governments after large-scale tax and fee reductions.
The changes will establish "a more reasonable sharing system between central and local governments for refunds of retained value-added tax (VAT)," the statement said. It also will ready local tax systems for further tax cuts, according to the circular.
For VAT revenue, central and local governments will each keep their 50 per cent share after a two-to-three year transition period, according to the government website.
The circular also encourages local governments to develop high-quality industries to expand tax sources.
Consumption taxes on goods from production or import will also be transferred to wholesale or retail sectors to expand tax sources for local governments.
-- Martin Choi   


China's State Council making adjustments on central-local tax distribution

Business reporter Ryan Swift takes a look.
--  Forbes magazine estimated the value of NBA China’s operations at US$4 billion in early 2018.
-- In May 2019, sports analytics firm Ampere reported that NBA basketball had become China’s most popular league sport. Ampere estimates that the NBA’s broadcasting fees in China will be US$300 million between 2020 and 2025. About 800 million Chinese watched NBA programming on TV, digital media or smartphones last season, said the league.
-- The NBA has estimated that some 300 million Chinese people play basketball recreationally and that about 500 million watched at least one NBA game last season. A Deloitte report estimated that there are 100 million Weibo followers of Chinese Basketball Association and NBA teams.
-- China has the Chinese Basketball Association (CBA), which runs its premier basketball league with 20 teams.
-- The flap threatens the NBA's access to China, the world’s fastest growing market for sports and its most successful overseas enterprise. 
Read full story here. 


What's at stake in the NBA uproar? 

China’s voice recognition champion iFlyTek (002230 CH) said it will maintain healthy growth this year despite being added to a US trade blacklist this week.
Along with 20 Chinese public security bureaus and seven other companies, iFlyTek was added to the US Entity List, which prevents them from buying US-made technology without special approval. Washington’s move was linked to Beijing’s alleged mistreatment of Uygur Muslims and other predominantly Muslim ethnic minorities and the involvement of the Chinese tech companies in that campaign.
iFlyTek chief executive Liu Qingfeng addressed the impact of the ban in an open letter to staff on Wednesday, saying: “We have the world's leading artificial intelligence core technology, all of which come from our independent research and development, and have independent intellectual property rights. We will not be strangled.”
On Thursday iFlyTek said it expects to report a net profit of 330 million to 380 million yuan (US$46.4 million to $53.4 million) for the first three quarters of 2019, representing year on year growth of between 50 and 73 per cent.
iFlytek shot up 6 per cent today to 33.44 yuan.
Read full story here by Jane Zhang. 


iFlyTek says it won't be 'strangled' by US blacklisting, is rallying in trading today

A report by Bloomberg that the US is looking at a currency deal with China as part of trade discussions beginning soon in Washington is behind the boost in mainland and Hong Kong markets today, said Castor Pang Wai-sun, head researcher at brokerage Core Pacific-Yamaichi.
"A glimmer of hope has led the market to ease up a bit,” Pang said.
“Everyone is looking closely at the US-China trade deal right now. Markets could fall if not much progress is made or any negative news breaks out. On the other hand, any sort of positive development could bring up the indices. The markets are relatively quiet now, the transaction volume isn’t very high,” said Pang.
The Hang Seng Index is up 0.4 per cent to 25,780.42, while the Shanghai Composite Index is up 0.5 per cent to 2,940.
Hong Kong stocks are still being affected by protests, said Pang, prompting investors to look for blue chips that they hope will be less affected by the unrest.
Chinese consumer stocks such as sportswear brands are doing quite well because the income level of third and fourth tier cities in China is continuing to rise, and Chinese consumers tend to buy domestic brands, he added.
Sports retailers are among the day's gainers. Pou Sheng International (3813 HK) is up 3.7 per cent to HK$2.51, Anta Sports (2020 HK) is up 2.4 per cent to HK$69.40, Viva China (8032 HK) is up 1.9 per cent to HK$0.54, Yue Yuen Industrial Holdings (551 HK) is up 1.7 per cent to HK$21.05, and Xstep International Holdings (1368 HK) is up 0.9 per cent to HK$4.42. 
-- Martin Choi 


Investors see 'glimmer of hope' in trade talks, boosting markets, says Castor Pang Wai-sun

360 Ludashi (3601 HK) is absolutely a rocket on its first day of trading. It's up 192 per cent to HK$7.89, from its initial public offering price of HK$2.7.
Ludashi 360 was the largest PC and smartphone hardware and system benchmarking and monitoring solution provider in China by user base in 2018, occupying almost 99 per cent and 59 per cent of the market share based on the monthly active users for PCs and mobile devices, respectively.
--  Deb Price    


 360 Ludashi is up 192 per cent in first day of trading 

Macau casino stocks are having a good day, with investor sentiment boosted by hopes for progress as the US and China prepare to talk about their trade war.
SJM Holdings (880 HK) is up 4.2 per cent to HK$7.69, MGM China (2282 HK) is up 2.5 to HK$12.24, Galaxy Entertainment (27 HK) is up 2.4 per cent to HK$48.65, Sands China (1928 HK) is up 1.6 per cent to HK$35, and Wynn Macau (2218 HK) is up 0.1 per cent to HK$15. 
It's been an unlucky year for Macau casino stocks, and analysts have scaled back their target prices as they've dropped. 
The trade war has led to weak gaming revenue, as Chinese gamblers -- whether the big whale or minnow -- have pulled back. The protests have further hit traffic. Gross gaming revenue was US$2.7 billion in September. While that was a bit of an increase -- 0.6 per cent from the September before -- Typhoon Mangkut hit Macau in September 2018 and forced casinos to shut down for 33 hours, Bloomberg notes, in what was a first in history.
Here are bets on the stocks by analysts tracked by Bloomberg.

   


Chart: Macau stocks are good bets ahead, analysts say

Every sector on the Shanghai Composite Index rose today, with the biggest gains posted by health care and information technology stocks. Overall, 1,201 stocks gained, while 257 fell and 73 were unchanged.
The Shanghai Composite Index closed up 0.78 per cent to 2,947.71.
Sentiment was lifted by hopes of progress in the US-China trade war as well as a report by The New York Times that the US will soon give some US companies licenses to supply non-sensitive goods to China telecom giant Huawei, which was put on a US trade blacklist. 
Fifteen stocks hit or nearly hit the 10 per cent daily limit, including Xinjiang Youhao (600778 CH), which owns department stores and others and is up 21 per cent for the year, and Anhui Wanwe Updated High-Tech Material Industry (600063 CH), which makes chemical products and has risen 55 per cent this year. 
The CSI 300 Index of large stocks trading in Shanghai and Shenzhen closed up 0.8 per cent at 3,874.64. 
Here's how several stocks popular with northbound Stock Connect traders did:
-- Kweichow Moutai (600519 CH) gained 0.7 per cent to 1,155 yuan.
-- China Merchants Bank (600036 CH) closed down 0.2 per cent at 35.11 yuan.
-- Shanghai International Airport (600009 CH) rose 3 per cent to 80.48 yuan.
-- Ping An Insurance (601318 CH) rose 0.55 per cent to 91.05 yuan.
-- Deb Price    


China stocks lifted on optimism about trade war, US handling of Huawei 

The Hong Kong Exchanges and Clearing Limited (HKEX) said it might surprise the public with another bid for a stock exchange after it dropped the move to buy the London Stock Exchange Group (LSEG) on Tuesday.
"Any plan for that, if there's one, it's gonna be done with a surprise to you. I will never tell you,” said HKEX’s chief executive Charles Li Xiaojia when he met the press this morning for the first time after announcing the decision to drop the bid.
“We will consider every possibility,” said Li when asked if the HKEX will bid for other stock exchanges. “But the consideration is based on our own strategy and whether there is an opportunity.”
"I'm not telling you that I'm bidding anything," said Li. But the HKEX would place a bid “if a great situation arises [which] makes tremendous sense and [is] in the interest of our shareholders.”
The HKEX refrained from sweetening its £29.6 billion (US$36.4 billion) bid to buy the London Stock Exchange Group (LSEG), after its overtures to create one of the world’s largest financial marketplaces were spurned by London executives.
-- Holly Chik


HKEX may 'surprise' with another stock exchange bid, says Charles Li

News that US President Donald Trump will allow some US companies to sell nonsensitive products to Huawei boosted sentiment in Hong Kong and mainland markets,  said Louis Tse Ming-kwong, VC Asset Management's managing director.
“At the beginning of the day, the market was a bit depressed because the sentiment surrounding the US-China trade wars was not so good, as news had it that China could finish their talks one day earlier,” Tse said.
“But then Trump gave some way to Huawei and allowed it to continue to buy US parts. This sent a signal to the market that if the US was willing to take a step back, there may be improved sentiment during the trade talks tonight."
The New York Times, citing people familiar with the matter, said Trump told his administration to give some US companies waivers to deal with Huawei. The Chinese telecom giant was put on a so-called "entity list" over national security concerns, meing Huawei isn't allowed to buy technology from Google and other companies. 
The trade talks begin in Washington, so traders here will wake up to news on how they went.
“The markets aren’t expecting too much from the trade talks [tonight] as it’s a long process and it takes time to conclude all these deals," said Tse.
-- Martin Choi


Markets got boost from news of US will allow some selling to Huawei

“Traders in Hong Kong are becoming numb to the impacts of the protest,” said Kingston Lin King-ham, director of securities brokerage AMTD.
The protests, which began on June 9, have especially battered property and retail stocks. 
After starting the day in positive territory, MTR (66 HK) closed down 1.16 per cent at HK$42.70.
The owner of the city’s subway system has been hammered by protests, in which its stations have been vandalised.
Cosmetics retailer Sa Sa International (178 HK) finished up 0.59 per cent to HK$1.72.
Jeweller Chow Sang Sang (116 HK) rose 2.16 per cent to HK$8.51, while its rival Chow Tai Fook (1929 HK) fell 1.24 per cent to HK$6.40.
-- Martin Choi    


Hong Kong investors 'becoming numb' to protests, says Kingston Lin King-ham

The Hang Sang eked out gains, closing up 0.1 per cent at 25,707.93, as optimism built through the day that something positive will come out of the trade talks in Washington that begin tonight.
AAC Technology Holdings (2018 HK), a supplier to Huawei and Apple, shot up 6.3 per cent to HK$44.60.
Geely Automobile (175 HK) closed ahead 2.7 per cent at HK$13.86.
Pork producer WH Group (288 HK) closed up nearly 4 per cent to HK$7.33. According to a Bloomberg story,  Arnold Silver of WH Group's Smithfield Foods said next year could see ham and pork belly shortages as China buys more pork as it reels from African swine fever.
Sanitary napkin and diaper maker Hengan International (1044 HK)  closed ahead 3.6 per cent at HK$50.95. J.P. Morgan upgraded it to neutral from underweight on Wednesday, with a price target of HK$49. 
China Mengniu Dairy (2319 HK) finsihed up 2.3 per cent at HK$31.05, following its announcement it is cutting commercial ties with the NBA over the controversy set off by a team manager's tweet in support of Hong Kong protesters. 
Also of note in Hong Kong trading:
Budweiser Brewing APAC (1876 HK) fell 3 per cent to HK$31.50. It is up nearly 17 per cent still from its trading debut just over a week ago on September 30. 
Two new companies joined the main board today.
360 Ludashi (3601 HK) closed at HK$8.6, up a whopping 218.5 per cent from its initial public offering price of HK$2.7.
Topsports International Holdings (6110 HK) closed at 9.25, rising nearly 9 per cent from its IPO price of HK$8.50. 
-- Deb Price     


Stocks Blog: Hong Kong , mainland China stocks get boost on optimism about trade talks

Hikvision, Dahua plunge after resuming trading following US trade ban 360 Ludashi closes up a whopping 218.5 per cent in its trading debut

Hikvision, Dahua plunge after resuming trading following US trade ban

360 Ludashi closes up a whopping 218.5 per cent in its trading debut