U.S. markets rose on hopes of a rate cut; Asian markets were mixed as China's earnings season continued. 🇺🇸 S&P 500: 0.52% 📈 🇺🇸 Nasdaq: 0.58% 📈 🇪🇺 Stoxx 600: 0.39% 📈 🇯🇵 Nikkei 225 Index: -0.02% 📉 🇭🇰Hang Seng: 1.70%📈 🇨🇳CSI 300: -0.41% 📉 • U.S. markets were generally higher on Wednesday, with the S&P 500 and Nasdaq Composite rising 0.5% and 0.6% respectively, as economic data and comments from the Federal Reserve Chairman reinforced expectations for a rate cut. • U.S. Job Openings (JOLTS) showed a slight decline in job openings in January (8.86 million compared with 8.88 million in December), while hiring also declined as labor market conditions continue to gradually ease. • Workers who stayed on the job gained $140,000 in wages in February ($149,000 expected), the ADP national jobs
China’s technology giants have had their earnings estimates slashed for a second straight month amid the nation’s relentless pursuit of its Covid-Zero strategy.Analysts have trimmed profit projections for Hang Seng Tech Index members by 4% in April, following a similar reduction in March, according to data compiled by Bloomberg. Among their reasons is the prospect for further Covid flareups in the world’s most populous nation.The escalating concerns over Covid are adding to a raft of challenges facing China’s technology sector. These include more than a year of regulatory crackdowns, Federal Reserve interest-rate hikes that are luring capital away from riskier assets, and speculation that more of the firms may lose their U.S. stock exchange listings.Among the companies suffering the bigges
CapitaLand Investment remains long-term positive on China
CapitaLandInvest (CLI) remains long-term positive on China and believes that the current headwinds may generate interesting counter-cyclical and opportunistic investment themes.The real estate investment manager said this in a bourse filing in response to shareholder questions about the uncertainties it faces in China ahead of its annual general meeting on Friday.While acknowledging the internal and external pressures faced by China since end-2021, it said its view on China is premised on China’s "Two Sessions" policy announcements that call for supportive pro-business and pro-consumption stimulus to steer economic and employment growth, while addressing concerns over the real estate sector and its capital markets.China has expressed the intention to soften and balance the economic impact
'Buy' calls around for ComfortDelGro as it drives towards a bright outlook
Majority analysts driving towards a 'buy' for ComfortDelGro as it has a smooth journey ahead and also for its positive outlook, as they see a recovery underway and while the group is positioned to benefit from the electric vehicle (EV) boom.For the FY2021 period, earnings surged some 114% y-o-y to $130.1 million, but the 2HFY2021 period experienced a 42% y-o-y decline to $39.1 million.The earnings growth in FY2021 was mainly due to higher revenue, as well as higher net income from investments. The earnings decline in 2HFY2021 however was mainly due to significantly lower Covid-19 government reliefs and lower net income from investments.ComfortDelGro is currently experiencing high vaccination rates, lower taxi rebates, higher rail ridership in Singapore, and increased charter activities in
Passenger numbers surge for SIA in March from a year ago as travel restrictions ease
Singapore Airlines (SIA) enjoyed an almost ninefold annual increase in passenger numbers last month as air travel started taking off following the lifting of travel restrictions.SIA and its low-cost subsidiary Scoot together carried 893,000 passengers in March, up from 544,600 in February and 100,100 in March 2021.Passenger load factor, which measures seat occupancy, rose to 54.5 per cent, a jump of 41.7 percentage points from a year earlier.The average passenger load factor during the pre-pandemic era was upwards of 78 per cent. The month of March thus represents the highest load factor since the start of the pandemic in early 2020.On the cargo side, load factors remained a healthy 72.5 per cent in March 2022, though 19.8 per cent down from a year ago. But actual cargo loads car
Interesting facts about the ownership of AAC Technologies Holdings Inc. (HKG:2018)
Every investor in AAC Technologies Holdings Inc. (HKG:2018) should be aware of the most powerful shareholder groups. We can see that individual insiders own the lion's share in the company with 44% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn).And looking at our data, we can see that insiders have bought shares recently. Their expectations, however, were not satisfied, as the market cap dropped over the past few months.What Does The Institutional Ownership Tell Us About AAC Technologies Holdings?Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.As you can see, ins
CHINA CONSTRUCTION BANK CORPORATION IMPROVED CREDIT QUALITY IN Q4
CHINA CONSTRUCTION BANK CORPORATION is a commercial bank. The Bank operates its businesses through corporate banking businesses, including corporate deposit, corporate credit loan, asset custody, enterprise annuity, trade financing, international settlement, international financing and value-added services, among others, personal banking businesses, including personal deposit, loan, bank card services, private bank services, foreign exchange trading and gold trading services, among others, and capital business. The Bank operates its businesses in domestic and overseas markets.For its fourth quarter, narrow-moat China Construction Bank reported 9% and 11.6% year-on-year growth in revenue and net profits, respectively, slightly slowing from 9.3% and 12.8% in the first three quarters of 2021.
This integrated oil company in China which is one of the largest producers of crude oil and natural gas in the world, has witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 19.3% over the last 60 days. PetroChina Company Limited company has a dividend yield of 7.31%, compared with the industry average of 3.77%.PetroChina Co. Ltd. engages in the petroleum related products, services and activities. It operates through the following business segments: Exploration and Production; Refining and Chemicals; Marketing; Natural Gas and Pipeline; and Head Office and Other. The Exploration and Production segment involves exploration, development, production, and marketing of crude oil and natural gas.The Refining and Chemicals segment focuses on the refining of crud