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HSI Snaps 7D Fall w/ Wilder Early Gain of 400Pts+; Jewelry Stocks Backed by LAOPU; CN Insurers Outpace
Recommend 75 Positive 150 Negative 50 |
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Arresting a seven-day losing streak, Hong Kong bourse ticked up this morning (15th), with the HSI opening higher by 273 points or 1.1%, at 25,714. The early trading gains once expanded to 429 points, bring the index to the peak of 25,870. The benchmark index last reported at 25,710, up 269 points or about 1%, with a turnover of approximately HKD123.7 billion. International gold prices repeatedly hit new highs, with spot gold rising to USD4,186.78 this morning, setting a historical record, and last posted at USD4,171, up 0.7%. Major jewelry stocks listed in HK were prevalent, with CHOW TAI FOOK (01929.HK) last at HKD15.18, up 3.9%, with a turnover of HKD42.4231 million. LUK FOOK HOLD (00590.HK) and CHOW SANG SANG (00116.HK) each spiked 2.2%, while ZHOU LIU FU (06168.HK) inched up 0.6%. LAOPU GOLD (06181.HK) last printed at HKD732, up 5.63%, with a turnover of HKD955 million. JPMorgan indicated an evident trend of brand value enhancement for LAOPU GOLD, predicting retail sales will remain strong, reaffirming an Overweight rating on the stock, and listing it as one of the top picks in the Chinese consumer sector. Gold miners jumbled, with WANGUO GOLD GP (03939.HK) and TONGGUAN GOLD (00340.HK) leaping 3.8-3.9%; ZHAOJIN MINING (01818.HK) and ZIJIN MINING (02899.HK) rising 0.6-0.7%. Semi-IPOs ZIJIN GOLD INTL (02259.HK), CHINAGOLDINTL (02099.HK), and CHIFENG GOLD (06693.HK) sank 1-2.4%. SD GOLD (01787.HK) last traded at HKD37.34, down 6.7%, with a turnover of HKD1.719 billion. Chinese insurers outpaced the HK market, with NCI (01336.HK) last stood at HKD50.75, up 5.2%, with a turnover of HKD878 million. CHINA TAIPING (00966.HK) last logged at HKD16.53, up 4.62%, with a turnover of HKD145 million. CHINA LIFE (02628.HK) last charted at HKD22.72, up 3.65%, with a turnover of HKD1.1 billion. PING AN (02318.HK), PICC GROUP (01339.HK), CPIC (02601.HK), and SUNSHINE INS (06963.HK) swelled 2.3-3.4%. PICC P&C (02328.HK) jumped up 1.9%. AASTOCKS Financial News Website: www.aastocks.com |
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