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Hello everyone, this is Peter Pak at BOCI securities in Hong Kong. The Hong Kong stock market end higher on Friday on the back of the strong performance from the Dow Jones last night, as we saw the HSI actually once approaching 23,800 mark, but retreat a little bit, still that was a pretty strong day for Hong Kong market.
Looking back to the whole week, there was one of the best weeks in the recent months, we would say, in terms of turnover, especially we saw a really heavy volume in the market. On Monday, we saw a total of 112 billion dollars in the total market turnover, which marks one of the busiest day in Hong Kong market so far this year.
Also on the average, the Hong Kong market has over 70 billion turnover, compared to the average of around 60 or maybe 50 before, so that considering a very strong, I would say. In terms of the individual seters, it seems that investors are keen on some policy driven, including say China consumer, also some baby related seters and individual stock as well. Otherwise, we see a strong or heavy buying on China Airlines, it seems that investors want to get on RMB appreciation trend, and China Airlines one of those themes, behind the appreciation. Also we saw some heavy buying on the insurance stocks, there are many driven by the perfomance Asia market, and some people are expecting the more rally in the Asia market in the near terms. So insurance stock is one the those places to go, some of the mainland brokerage houses.
Looking ahead we see it seems that Hong Kong stock market still carry some steam going ahead. It wouldn’t take too long to see the HSI actually attach the year high, which was point was 23,900 something, so it is approaching the 24,000 mark in the near term. Afer all, the variation remains quite low, and also exchange way for Hong Kong dollars remains quite strong, indicating some inflex of hot money in the near term.
Let’s move to Tokyo market. The yen has hit the world in the 4 months new low recently, and we saw dollar yen actually at the top 100, and even 101 mark, and trebling some rally in Tokyo stock markets. Nikkei stock average acutually one of the above 15,000 in the world, almost 4 months or 6 months time for the first time, it stays above that mark a little while, seems that people are quite positive on the back of the week yen.
In Singapore, acutally the situation looks a bit different, we see the benchmark Straits Times Index, actually fell a little bit during the week, the majoring actually was not that bad, the Singaporean government rasie the GDP for the whole year, before that there was around 3%, now is between 3.5 % to 4 % for the whole year, and then 4% forcast for the next year. But it seems that the positive development didn’t bring any new excitement stock market as the Singaporean stock market actually follow the general trend in the southeast Asia, then fell most of the week. This is it for me, I will talk to you next time.
