Showing posts with label Esprit Hodings. Show all posts
Showing posts with label Esprit Hodings. Show all posts
Monday, September 6, 2010
Friday, September 3, 2010
Asian Markets Review – September 3rd 2010
Nikkei Higher, Esprit Slumped
Nikkei 225 Average ended up 51.29 points or 0.57% higher at 9,114.13 and Hong Kong’s Hang Seng index resumed its ascend to 20,971.50. Shanghai Composite fell however, to 2,655.39 as concerns over the government’s action on the property markets sent property stocks on retreat. US pending home sales data and jobless claims released overnight were the main drivers to the rise. Caution was in the air as investors braced for the widely anticipated Non-farm Payrolls data due later in US session.
Ping An jumped again for the second day in a row after it resumed trading following a long break since late June. The insurance group climbed 5.45% towards HK$69.70, lending support to the Hang Seng index performance. Deutsche Bank however, lowered its target from HK$88.00 to HK$78.89.
Following disappointing fiscal year results, Morgan Stanley revised Esprit’s target to HK$52 from HK$73, while Citigroup adjusted its target to HK59 from HK$62. Esprit plunged deeper as it settled at HK$40.65 or 5.24% lower.
In contrast, Sino Land edged up 3.24% to HK$14.02 after it reported a better-than-expected fiscal year results late on Thursday. Net profit excluding revaluation gains amounted to HK$3.51 billion which, despite falling 2.6% against prior year, were better than the consensus of HK$3.37 billion.
Top gainers in Japan on Friday were Sony Corp. - which recently opened a direct rivalry against Apple in video and photo streaming services after launching Qriocity – with 2.39% gains at ¥2,485, TDK Corp. with 2.09% rise to ¥4,640, and Toyota Motor Corp. which advanced 2.39% to ¥2,485. Languishing at the bottom were Honda Motor which shed 1.22% to ¥2,824, Nikon Corp. with 0.63% decline to ¥1,425, and Kyocera which ended 0.4% lower at ¥7,480.
On the top along with Sino Land, China Merchants Holdings rose 2.47% towards HK$27 while Cathay Pacific Airways advanced to HK$19.80 or up 2.27%. Yue Yuen Industrials and China Resources joined Esprit Holdings at the bottom, falling 0.99% and 1.35%, respectively.
Nikkei 225 Average ended up 51.29 points or 0.57% higher at 9,114.13 and Hong Kong’s Hang Seng index resumed its ascend to 20,971.50. Shanghai Composite fell however, to 2,655.39 as concerns over the government’s action on the property markets sent property stocks on retreat. US pending home sales data and jobless claims released overnight were the main drivers to the rise. Caution was in the air as investors braced for the widely anticipated Non-farm Payrolls data due later in US session.
Ping An jumped again for the second day in a row after it resumed trading following a long break since late June. The insurance group climbed 5.45% towards HK$69.70, lending support to the Hang Seng index performance. Deutsche Bank however, lowered its target from HK$88.00 to HK$78.89.
Following disappointing fiscal year results, Morgan Stanley revised Esprit’s target to HK$52 from HK$73, while Citigroup adjusted its target to HK59 from HK$62. Esprit plunged deeper as it settled at HK$40.65 or 5.24% lower.
In contrast, Sino Land edged up 3.24% to HK$14.02 after it reported a better-than-expected fiscal year results late on Thursday. Net profit excluding revaluation gains amounted to HK$3.51 billion which, despite falling 2.6% against prior year, were better than the consensus of HK$3.37 billion.
Top gainers in Japan on Friday were Sony Corp. - which recently opened a direct rivalry against Apple in video and photo streaming services after launching Qriocity – with 2.39% gains at ¥2,485, TDK Corp. with 2.09% rise to ¥4,640, and Toyota Motor Corp. which advanced 2.39% to ¥2,485. Languishing at the bottom were Honda Motor which shed 1.22% to ¥2,824, Nikon Corp. with 0.63% decline to ¥1,425, and Kyocera which ended 0.4% lower at ¥7,480.
On the top along with Sino Land, China Merchants Holdings rose 2.47% towards HK$27 while Cathay Pacific Airways advanced to HK$19.80 or up 2.27%. Yue Yuen Industrials and China Resources joined Esprit Holdings at the bottom, falling 0.99% and 1.35%, respectively.
Thursday, September 2, 2010
Asian Markets Review – September 2nd 2010
US Data Fueled Asian Rallies
Improving global sentiment triggered by the latest ISM data for the US manufacturing sector boosted Asian shares on Thursday. Nikkei 225 Average was up 135.82 points to end 1.52% higher at 9,062.84, Hang Seng index jumped higher to 20,868.92 or 1.19%, while Shanghai Composite ended at 2,655.78 or up 1.25%.
Top gainers from Japan were Kyocera Corp. with 3.30% gains at ¥7,510, Nissan Motor Co. at ¥664 with 2.95% gains, and Nikon Corp. at ¥1,434 (+2.58%). Toyota and Nintendo were losing out with 0.25% and 0.26% declines.
Sony’s Qriocity wa
s unveiled and aimed at facing competition with Apple in video and music streaming services. The services will be available this fall in France, Germany, Italy, Spain, and England. Qriocity will be accessible via Sony’s Bravia TV, Playstation 3, Blu-ray DVD player, and also Vaio PCs. Analysts were not excited with the product, citing that Sony still has a lot of catching up with Apple’s recently unveiled similar services yesterday by Steve Jobs. Sony ended at ¥2,427, up 2.19%.
US vehicle sales data revealed that Toyota sales were down 34% year-on-year in August, while Honda’s sales fell 33%, and Nissan’s declined 27%. Asian branded autos fell 29% overall in August, worse than US branded ones which slumped 14%. The August sales figures were the lowest in the last 28 years due to worries over a double dip recession in the US. Toyota ended the day at ¥2,850, Honda Motor at ¥2,859 (+1.85%).
In Hong Kong, Ping An Insurance resumed trading after being suspended since June 30th as it acquired Shenzhen Development Bank. Ping An jumped 2.7% to HK$66.10, boosting the Hang Seng index performance.
Esprit Holdings reported a net profit of HK$4.23 billion for the fiscal year ending June 2010. The figure was less than the expected HK$4.44 billion and was 11% lower than the same period last year. Esprit fell 2.82% by the end of the day at HK$43.00.
China Mobile underperformed on Thursday as the uncertainties surrounding Vodafone’s planned sale of China Mobile’s 3.2% stakes lingered. China Mobile advanced only 0.76% towards HK$79.80.
CITIC Pacific, China Shenhua, and China Overseas Land & Investment posted significant gains today: 4.41%, 3.31%, and 3.09%, respectively. Stuck at the red zone along with Esprit Holdings, China Resources fell 0.4% as well as Cheung Kong Infrastructure which declined 0.25%.
Improving global sentiment triggered by the latest ISM data for the US manufacturing sector boosted Asian shares on Thursday. Nikkei 225 Average was up 135.82 points to end 1.52% higher at 9,062.84, Hang Seng index jumped higher to 20,868.92 or 1.19%, while Shanghai Composite ended at 2,655.78 or up 1.25%.
Top gainers from Japan were Kyocera Corp. with 3.30% gains at ¥7,510, Nissan Motor Co. at ¥664 with 2.95% gains, and Nikon Corp. at ¥1,434 (+2.58%). Toyota and Nintendo were losing out with 0.25% and 0.26% declines.
Sony’s Qriocity wa
s unveiled and aimed at facing competition with Apple in video and music streaming services. The services will be available this fall in France, Germany, Italy, Spain, and England. Qriocity will be accessible via Sony’s Bravia TV, Playstation 3, Blu-ray DVD player, and also Vaio PCs. Analysts were not excited with the product, citing that Sony still has a lot of catching up with Apple’s recently unveiled similar services yesterday by Steve Jobs. Sony ended at ¥2,427, up 2.19%.US vehicle sales data revealed that Toyota sales were down 34% year-on-year in August, while Honda’s sales fell 33%, and Nissan’s declined 27%. Asian branded autos fell 29% overall in August, worse than US branded ones which slumped 14%. The August sales figures were the lowest in the last 28 years due to worries over a double dip recession in the US. Toyota ended the day at ¥2,850, Honda Motor at ¥2,859 (+1.85%).
In Hong Kong, Ping An Insurance resumed trading after being suspended since June 30th as it acquired Shenzhen Development Bank. Ping An jumped 2.7% to HK$66.10, boosting the Hang Seng index performance.
Esprit Holdings reported a net profit of HK$4.23 billion for the fiscal year ending June 2010. The figure was less than the expected HK$4.44 billion and was 11% lower than the same period last year. Esprit fell 2.82% by the end of the day at HK$43.00.
China Mobile underperformed on Thursday as the uncertainties surrounding Vodafone’s planned sale of China Mobile’s 3.2% stakes lingered. China Mobile advanced only 0.76% towards HK$79.80.
CITIC Pacific, China Shenhua, and China Overseas Land & Investment posted significant gains today: 4.41%, 3.31%, and 3.09%, respectively. Stuck at the red zone along with Esprit Holdings, China Resources fell 0.4% as well as Cheung Kong Infrastructure which declined 0.25%.
Wednesday, August 11, 2010
Hong Kong Review – HK Shares Slumped As China Data Hinted At Soft Landing
Hang Seng index resumed its slide to as low as 21,294.54 or down 179.06 points (-0.8%) as China’s data and overnight statement from FOMC prompted investors to book profit even further. A move by China Banking Regulatory Commission also hurt banking stocks.CBRC instructed banks to move loans to trust companies back to their balance sheet by the end of next year. This move plugs the loophole that had enabled banks to get around lending quotas. Banks sometimes make loans off their books to trust companies who later repackage the funds as wealth-management products. China Construction Bank fell 2.68%, ICBC fell 2.54%, BOC HK and BOC each fell 1.96% & 1.92%, respectively, while Bank of Communication shed 1.72%.
A flood of Chinese data hinted further easing in China’s growth. PPI was at +4.8%, slowing from June’s +6.4%, while CPI was still rising at +3.3% from June’s +2.9%, due to recent flooding that struck China, driving food prices higher. Industrial output was up 13.4% (yoy) in July, higher than consensus of +13.2% but slower than 13.7% in June. Retail sales climbed 17.9% (yoy), slower than 18.3% rise in June, and below consensus of 18.4%. Urban fixed-asset investment growth during January-July rose 24.9%, slowing down from 25.5% January-June period. The final pieces of the data, new loans and mortgage related lending fell to 533 billion yuan and 126 billion yuan. Both fell from their prior month’s data, suggesting more evidences of moderation.
HKEX released its earnings for the second quarter period which saw net profit declining 16% (yoy) as daily trading volume dropped along with its investment income. HKEX settled 2.05% lower at HK$129.10 at the end of the day.
Hutchison Whampoa, on the other hand, leapt nearly 6% after its Managing Director Canning Fok and Chief Financial Officer Frank John Sixt bought a total of 1.15 million HW shares on August 6th, a day after the company posted its first-half results. HW settled at HK$61.85.
China Overseas Land and Investment reported 1H10 net profit of HK$5.07 billion from a year earlier HK$3.04 billion. The company proposed 1H dividend of HK$0.10 up from HK$0.07 a year earlier. Its sales forecast for 2010 sales is maintained despite tightening measures from China. COLI ended down 1.45% before the results were released.
PetroChina is expected to see net profit rose by 36% (yoy) to HK$68.4 billion yuan during 1H10, according to Nomura Securities. A rise of 49% in oil price was the factor behind the forecast. The target is set at HK$13.70 with BUY rating. PetroChina closed at HK$8.77 or down 1.02%.
Esprit Holdings downgraded to Neutral from Buy by UBS; meanwhile BOC-HK launched mobile banking services.
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