Topic
Followed by 1.4k people
TOPIC
Baijiu is a liquor (the word means white liquor) distilled in China that is sought after for official banquets and for gifts. Kweichow Moutai is probably the best known baijiu. Sales of the potent white spirit have risen in recent years, powered by a boom in the luxury market in China.
- Kweichow Moutai’s rapid run-up takes the stock to the biggest-ever premium to the price target set by analysts
- US research firm Morningstar says the stock is richly valued and sets a price target that implies a 34 per cent drop from the current level
Investors continued to brush off Monday’s rout, when the Hang Seng Index fell more than 1,000 points. Overall, Hong Kong sentiment has been positive, with the benchmark rising in seven of the last nine sessions.
Investors continued to brush off Monday’s rout, when the Hang Seng Index fell more than 1,000 points. Overall, Hong Kong sentiment has been positive, with the benchmark rising in seven of the last nine sessions.
Kweichow Moutai gained after reporting its net profit rose 16.7 per cent in first quarter despite the lockdown in China. HSBC rises despite reporting a 48 per cent drop in pre-tax profit in the first quarter.
Kweichow Moutai gained after reporting its net profit rose 16.7 per cent in first quarter despite the lockdown in China. HSBC rises despite reporting a 48 per cent drop in pre-tax profit in the first quarter.
US treasury secretary says world's largest economy could re-open by late August. Ali Health continues to rally, but Ping An Good Doctor has slipped in afternoon trading.
US treasury secretary says world's largest economy could re-open by late August. Ali Health continues to rally, but Ping An Good Doctor has slipped in afternoon trading.
“What’s needed to push this market higher is a cure or a therapeutic regime,” said Stephen Innes, chief global markets strategist at AxiCorp, a currency trading platform.
“What’s needed to push this market higher is a cure or a therapeutic regime,” said Stephen Innes, chief global markets strategist at AxiCorp, a currency trading platform.
China’s manufacturing sector continued to be hammered by the coronavirus in March, new data from the National Bureau of Statistics shows, while consumer inflation eased.
China’s manufacturing sector continued to be hammered by the coronavirus in March, new data from the National Bureau of Statistics shows, while consumer inflation eased.
China airlines continued to slide in the mainland, amid turbulence caused by the coronavirus. China Southern has fallen nearly 27 per cent since January 14, when the danger of the virus became clear, while China Eastern Airlines has dropped 25 per cent since then.
China airlines continued to slide in the mainland, amid turbulence caused by the coronavirus. China Southern has fallen nearly 27 per cent since January 14, when the danger of the virus became clear, while China Eastern Airlines has dropped 25 per cent since then.
Traders took comfort in signs that the coronavirus outbreak appears to be easing in Asia leading them to believe that the dampening effect on the financial markets and economies would only be temporary.
Traders took comfort in signs that the coronavirus outbreak appears to be easing in Asia leading them to believe that the dampening effect on the financial markets and economies would only be temporary.
Jefferies reiterates 'buy' rating on Alibaba, boosts target price to HK$289.
Jefferies reiterates 'buy' rating on Alibaba, boosts target price to HK$289.
HSBC Jintrust Fund Management says the panic selling offered a good buying opportunity and Western Asset argues that the impact on China’s economy will be short-lived.
HSBC Jintrust Fund Management says the panic selling offered a good buying opportunity and Western Asset argues that the impact on China’s economy will be short-lived.
Big gains seen for Alibaba, Sunny Optical and Mengniu Dairy. Macau gaming stocks plunge on report casinos will close for half a month to contain virus.
Big gains seen for Alibaba, Sunny Optical and Mengniu Dairy. Macau gaming stocks plunge on report casinos will close for half a month to contain virus.
Tencent, Alibaba, Xiaomi gain in Hong Kong, as traders look for bargains among virus-battered shares.
Tencent, Alibaba, Xiaomi gain in Hong Kong, as traders look for bargains among virus-battered shares.
The 14-day relative strength indices for the Shanghai Composite and the Hang Seng reach levels that indicate stocks are overbought.
The 14-day relative strength indices for the Shanghai Composite and the Hang Seng reach levels that indicate stocks are overbought.
Daiwa Capital Markets downgrades Kweichow Moutai to hold from outperform, citing "a lack of near-term share price catalysts." Gold stocks jump on worries about US-Iran tensions.
Daiwa Capital Markets downgrades Kweichow Moutai to hold from outperform, citing "a lack of near-term share price catalysts." Gold stocks jump on worries about US-Iran tensions.
“Market players are generally upbeat on this year’s outlook,” said Zhou Ling, a hedge fund manager with Shanghai Shiva Investment. “The central bank’s reduction in deposit reserve ratio cemented their belief in a bull run.”
“Market players are generally upbeat on this year’s outlook,” said Zhou Ling, a hedge fund manager with Shanghai Shiva Investment. “The central bank’s reduction in deposit reserve ratio cemented their belief in a bull run.”
Stocks posted monthly gains in Hong Kong in four out of the five past Januaries.
Stocks posted monthly gains in Hong Kong in four out of the five past Januaries.
Shanghai Composite Index posts a more than 22 per cent gain for the year. It weathered economic slowdown and the US-China trade war. Hong Kong stocks faced those as well, plus nearly seven months of protests.
Shanghai Composite Index posts a more than 22 per cent gain for the year. It weathered economic slowdown and the US-China trade war. Hong Kong stocks faced those as well, plus nearly seven months of protests.
“Market sentiment remains good,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “People are chasing those sectors lagging behind,” such as Hong Kong property.
“Market sentiment remains good,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “People are chasing those sectors lagging behind,” such as Hong Kong property.
Mainland stocks get a boost from central bank move that will make borrowing cheaper for individuals and businesses.
Mainland stocks get a boost from central bank move that will make borrowing cheaper for individuals and businesses.
China property stocks get boost from news proposed property tax will likely be further delayed.
China property stocks get boost from news proposed property tax will likely be further delayed.
Tencent (700 HK), the Chinese mobile game and social media giant, has been on a big roll in December. It fell today.
Tencent (700 HK), the Chinese mobile game and social media giant, has been on a big roll in December. It fell today.
“The [Hang Seng Index] may face a bit resistance before 28,000, but I don’t expect a deep adjustment,” said Alan Li, portfolio manager at Atta Capital. It closed at 27,884.21 Wednesday, and he expects it to hit 28,000 by the end of the year.
“The [Hang Seng Index] may face a bit resistance before 28,000, but I don’t expect a deep adjustment,” said Alan Li, portfolio manager at Atta Capital. It closed at 27,884.21 Wednesday, and he expects it to hit 28,000 by the end of the year.
Tencent (700 HK) gained. It has risen on nine of the 10 last sessions. Liquor distiller giant Kweichow Moutai (600519 CH) lost 0.2 per cent to 1,168 yuan.
Tencent (700 HK) gained. It has risen on nine of the 10 last sessions. Liquor distiller giant Kweichow Moutai (600519 CH) lost 0.2 per cent to 1,168 yuan.
China's CSI 300 index of stocks traded in Shanghai and Shenzhen closes at eight-month high, as pent-up demand for stocks is released after US China trade deal.
China's CSI 300 index of stocks traded in Shanghai and Shenzhen closes at eight-month high, as pent-up demand for stocks is released after US China trade deal.
Despite Beijing’s anger about US bills supporting Hong Kong protesters and Uygur Muslims, investors are betting it wants to strike a deal with the US over trade tariffs amid an economic slowdown.
Despite Beijing’s anger about US bills supporting Hong Kong protesters and Uygur Muslims, investors are betting it wants to strike a deal with the US over trade tariffs amid an economic slowdown.
Apple supplier AAC Technologies (2018 HK) shoots up 9 per cent, while Alibaba (9988 HK) climbs 2.8 per cent. In China, Kweichow Moutai jumps 3.6 per cent.
Apple supplier AAC Technologies (2018 HK) shoots up 9 per cent, while Alibaba (9988 HK) climbs 2.8 per cent. In China, Kweichow Moutai jumps 3.6 per cent.
“The market remains highly uncertain,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “The market is still waiting for further information on the trade deal.”
“The market remains highly uncertain,” said Kenny Wen, wealth management strategist at Everbright Sun Hung Kai. “The market is still waiting for further information on the trade deal.”
US President Donald Trump says he has no deadline for getting a partial trade deal completed with China. “I just tell you, in some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we’ll see whether or not the deal is going to be right"
US President Donald Trump says he has no deadline for getting a partial trade deal completed with China. “I just tell you, in some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we’ll see whether or not the deal is going to be right"
Traders are worried that Beijing’s anger over US legislation supporting Hong Kong protesters and condemning alleged abuse of Muslim minorities in northwest China threatens the US-China trade talks under way.
Traders are worried that Beijing’s anger over US legislation supporting Hong Kong protesters and condemning alleged abuse of Muslim minorities in northwest China threatens the US-China trade talks under way.
Alibaba (9988 HK) fell again, posting its third straight day of losses. Sa Sa International (178 HK), Hong Kong’s biggest cosmetics retailer, declined after announcing cost cutting measures as it reels from protests, trade war.
Alibaba (9988 HK) fell again, posting its third straight day of losses. Sa Sa International (178 HK), Hong Kong’s biggest cosmetics retailer, declined after announcing cost cutting measures as it reels from protests, trade war.