Hong Kong stocks turnover a 15-month low led by financial stocks, HSBC Holdings

Hong Kong stocks for the third consecutive trading day down. Hong Kong stocks Monday there was no trend of too many surprises, to close, the Hang Seng Index fell 53.5 points, or 0.24 percent, to close at 22687.21 points, after index was up 121.32 points; State-owned Enterprises Index was down 21.82 points, or 0.18 percent, to close at 12399.85 points. As this week when the futures settlement, together with the United States will announce a number of economic data, market activity is very thin, only a day turnover of 41.473 billion Hong Kong dollars a year on April 3 (40.012 billion Hong Kong dollars) since the 15 On the lowest.

HSBC Holdings led by financial stocks

The market for HSBC Holdings (00005, HK) medium-term performance of the pessimistic expectations really become an excuse to attack bears.

JP Morgan Chase recently reported that HSBC Holdings forecast first half pre-tax profit will be 27.5 percent in setback to 10.3 billion U.S. dollars, is mainly involved in credit costs rose and operating income growth slowed down. Earlier, CLSA research report has forecast, HSBC Holdings first-half net profit will be reduced by 16.75 percent to 9.07 billion U.S. dollars, of which 11 billion U.S. dollars calculated the provision for write-down and 40 billion dollars in capital gains. Will be released next Monday mid-day performance of HSBC Holdings fell 0.39 percent, to close at 127.80 Hong Kong dollar, leading decliners in the Hong Kong Monetary plate. Bank of East Asia (00023, HK) or 1.06 percent, to 37.45 Hong Kong dollar; Standard Chartered Bank (02888, HK) or 0.34 percent, to 238 Hong Kong dollar.

Hong Kong property stocks also no good look. Merrill Lynch said yesterday that Hong Kong real estate companies in the next two fiscal years, announced the results may be below expectations because investors overestimated the profitability of these companies. However, the bank is expected, Sino Land (00083, HK), Hang Lung Properties (00101, HK) and Henderson real estate (00012, HK) is the three most vulnerable to the impact of performance information on stocks, but it may also create a Good buying opportunity. Three stocks, only Henderson real estate fell, and the remaining two companies rose to close at 16.20 Hong Kong dollar, respectively, 25.70 and 48.55 Hong Kong dollar Hong Kong dollar.

Sun Hung Kai Properties (00016, HK) once again become a focus of news. Be removed from office the former Chairman Guo Bing Xiang in an interview that Sun Hung Kai Properties should take measures to reduce the influence of the controlling family.

Chinese coal shares rose contrarian

Chinese stocks, the decline last week by Yanzhou Coal shares (01171, HK) Notice of Yejiyuzeng contrarian rebound. Yanzhou Coal Mining rose 2.5 percent to 13.80 Hong Kong dollar, after the biggest gain 6.69 percent. The company said that the sharp rise in coal prices boost, the company expects first half net profit rose to more than two times. Another two shares of China Shenhua Coal (01088, HK) and coal in the energy (01898, HK) were up 0.7 percent and 0.3 percent, to 29.3 Hong Kong dollar and the Hong Kong dollar 14.

Chinese coal stocks rose despite the contrarian is largely a technical rebound after steep decline, but already at the Center Daily News of Hong Kong equities market sensitivity of the company's performance has been increasing, from the market in recent weeks Performance, regardless of the market in a strong rebound, finishing or weak, short-term performance of companies reporting good news always has a relatively good performance, but once the performance decline, the sharp decline in stock prices will be.

Peng strategist at Sun Hung Kai Securities, said the Hong Kong stock the current lack of direction, until the U.S. economic data released this week and after the futures settlement date, have a clear direction, it is estimated that the index will be repeated the next few days fluctuations that can still stand 22500 Above.

Source: Daily Economic News