UOB Kay Hian Keeps Luk Fook’s Buy Rating Despite Its HK$1.36 billion Share Placement

Luk Fook (Hong Kong stock code 00590) rebounded 0.5% to HK$29.20, snapping its two-day 10.2% fall after its HK$1.36 billion top-up share placement. Read more (1-27-2012) 

Sands China And Melco Crown Hit 52-Week Highs  

Macau casino shares Sands China (Hong Kong stock code 1928) and Melco Crown (6883) hit 52-week highs respectively at HK$27.70 and HK$30.90 Friday morning, on the expectation that Macau’s gambling revenue will set yet another record in January; the data is expected next week. (1-27-2012)

HSI Gives Up Early Gains, Flat At Midday; Brokers Advise to Take Profit 

The HSI is down 0.04% at 20,431.96 after earlier rising to 20,590.80, while the H-share index drops 0.43% to 11,368 at midday Friday, as profit-taking finally sets in after the HSI’s 7.5% rally over the past five sessions. GuocoCapital says the HSI has been technically overbought with nine-day RSI at 81; “short-term investors should consider taking profit on cyclical stocks and switching into defensive plays such as China Mobile.” (1-27-2012)

ZTE Plunges 6% Despite Denying Paying 500 Million Euros Compensation; Credit Suisse Keeps ZTE Outperform

ZTE (Hong Kong stock code 0763) plunges 6% to HK$21.20 in the afternoon session vs the HSI’s 1.5% rise. The company agrees to pay a patent license fee. Read more (1-26-2012) 

Kingway Brewery To Sell Brewery Business

Kingway Brewery (Hong Kong stock code 00124) is considering the efficiency and potential of the Group’s business and assets and, to this end, plans to commence discussions with certain independent third parties. Read more (1-26-2012) 

Bawang International Down 8% On Profit Warning

Bawang International’s (Hong Kong stock code 1338) said Friday it expects to remain in the red for FY11. Read more (1-26-2012) 

HSI Eyes 21,000 N/T, Says UOB KayHian  

Steven Leung of UOB KayHian says, “Hong Kong stocks’ recent rally was mainly propelled by expectations of China’s policy loosening, and I believe the market has turned the corner.” He adds that investors harbour hopes that a reserve requirement ratio cut will materialize as they wait for the resumption of trade in A-shares on Jan. 30. Leung tips the HSI may eye 21,000 as a short-term target. (1-26-2012)

HSI Take Profits ‘By Phase’, Says KGI Asia 

The HSI is up 1.2% after a 5-day break, and bringing the benchmark index’s gain so far in 2012 to 10.2%. KGI Asia says, “As the market has already accumulated substantial gains while strong resistance will be seen at 21,000, we suggest short-term investors to take profits by phase.” (1-26-2012)

HSI Up 1.2% Midday Boosted By Fed Decision- Buy Into Cyclicals, Says Kim Eng 

The HSI is up 1.2% at 20,342.71 at midday, the first trading session of the Year of the Dragon, amid the U.S. Fed’s decision to extend its low interest rate policy, together with possible RRR cut by China. “We believe that the promise for further liquidity support from the Fed will lead to a weaker dollar and better risk appetite in the near term, both positive for Asian equities. We maintain the call for investors to buy into cyclicals,” says Kim Eng. (1-26-2012)

China Stock Markets On Chinese New Year Holiday 

China Shanghai and Shenzhen stock markets are closed this whole week while the Hong Kong market will resume trading on Thursday due to Chinese New Year. (1-23-2012)

China Unicom Rises 1.1% On January 3G Net Adds; Deutsche Bank Keeps It At Buy

China Unicom (ADR: CHU, Hong Kong code 0762) rose 1.1% at HK$14.66 (ADR: $18.88) vs the HSI’s 0.84% gain, as its 3G subscribers rose 3% on-month. Read more (1-20-2012) 

Brokers Raise Hang Lung Properties Target Prices

Hang Lung Properties (Hong Kong stock code 0101) is down 1.51% to HK$26.10 at midday, as profit-taking sets in following the stock’s 9.7% post-results jump Thursday. Read more (1-20-2012) 

HSBC Preliminary China January PMI Rises

HSBC Preliminary China January PMI rose to 48.8 from last Decemeber’s 48.7. (1-20-2012)

Winsway Coking Coal Plunges 4.7% Despite Denying Fraud Claims

Winsway Coking Coal (Hong Kong stock code 01733) fell 4.71% to HK$1.82 at midday, though it issued an announcement to clarify the report dated 19 January issued by Jonestown Research alleging certain material misstatements and fraud. Read more (1-20-2012) 

ZTE Plunges 8.6% In Afternoon Session; Triggered By Tat Fook Warning And Rumors On Compensation

ZTE (Hong Kong stock code 0763) plunges 8.63% to HK$21.70 in the afternoon session. The selling started at ZTE A-shares, which fall by the 10% limit. Read more (1-19-2012) 

China Shipping Container Lines Drops 2.7% Amid Profit Warning

China Shipping Container Lines (Hong Kong stoack code 2866) extends yesterday’s fall to Thursday and is down 2.73% at midday to $1.78 in the wake of its FY11 profit warning announced yesterday. Read more (1-19-2012) 

Brilliance China Bounces 1.8% Midday; Credit Suisse Says Overvalued

Credit Suisse says the stake cut by Brilliance China Auto’s (Hong Kong stoack code 1114) top management potentially suggests that management believes the share price has peaked in the near term. Read more (1-19-2012) 

Cnooc Down 3% Midday On Low Production Growth But Brokers Keep it Overweight

Cnooc (ADR: CEO, Hong Kong code 0883) fells 3.05% to HK$15.28 (ADR $196.80) after a disappointing 2012 strategy update. Read more (1-19-2012) 

Brilliance China Plunges 9%; Management Reduces Stakes

According to the Hong Kong Exchange filing, Wu Xiaoan, chairman of Brilliance China (Hong Kong stock code 1114),reduced stake by 2.25 million shares. Read more (1-18-2012)