China Market Intelligence
Timely, relevant and actionable information and analysis on China
Stock Connect Roundup: Mixed Performance in A-share Market
SH-HK northbound turnover increased 33% to RMB16bn with 49% buy trades. SZ-HK northbound turnover rose 25% to RMB9.6bn with 48% buy trades. A-share market showed mixed performance today. SHCOMP increased 0.24% to 3,444.67, SICOM declined 0.73% to 11,303.97, and CSI 300 dropped 0.24% at 4,248.12. Liquor industry was the worst performing sectors, -3.05%. Financial industry was the best performing sector, +1.84%. The most active stocks in northbound SH-HK and SZ-HK were Kweichow Moutai [600519:CH] at -3.24% and China Vanke [000002:CH] at -1.07%.
Daily Wrap: Exchanges Curbing Blockchain Hype, Gree Taking Over Yinlong Management
SZSE and SSE issued official releases yesterday to rein in market speculation on blockchain stocks. The exchanges have requested trading suspension of firms that experienced price surges on blockchain-related rumors, and required them to make full disclosure of blockchain investments and businesses, and to issue clarification and risk warnings. Market performance was mixed today. SHCOMP increased 0.24% to 3,444.67, SICOM declined 0.73% to 11,303.97, and blue-chip index CSI 300 dropped 0.24% at 4,248.12. The Hang Seng Index hiked 0.25% today to 31,983.412, an all-time high.
China Telecom Competes for Philippine Telecom Operating License
According to Mofcom citing Philstar on January 15, China Telecom [CHA:US] is competing against Japan-based KDDI Corp [9433:JP], LG Uplus Corp [LPL:US], and an unidentified Taiwanese company to obtain the third Philippine telecom operating license. The result will come out in March and the Philippine government prevents the third telecom operator from selling its stake to the other two existing Philippines telecom operators, PLDT Inc [PHI:US] and Globe Telecom Inc [GLO:PH], in order to ensure the industry will not return to a duopoly.
Ofo Entered Seven Cities in India
Ofo has entered New Delhi, Indore, Bangalore, Ahmedabad, Pune, Coimbatore and Chennai to develop pilot programs for its bike-sharing service, according to Xinhua citing people familiar with the matter on January 16. Ofo plans to launch 3,000 shared bicycles in India by the end of January. In terms of payment, Ofo will cooperate with Indian e-payment company Paymt.
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