Investment Daily

类型：投资策略机构：凯基证券有限公司研究员：凯基证券研究所日期：2016-04-21

Hang Seng Index rebound on Tuesday along with a surge in U.S. stock market.

    The index closed at 21,436 points and increased 274 points. HSCEI closed at9,244 points, gaining 153 points. Turnover was $63.5 billion. Douglas Flint,chairman of HSBC(0005), said that the bank will progressively increase dividenddepends on certain situations. The stock rose 3.7% and closed at $50.75. Inaddition, the first quarter of Macau gambling gross revenue recorded $56.1 billion,decreasing 13.3% yoy but increasing 2.5% qoq. The news stimulated Sands China(1928)and Galaxy Entertainment(0027)to surge 2.3% and 2.6% respectively.

    Expectation of US oil production to continue decline, worker strike at Kuwait hastemporarily cut its oil production volume, crude price continued its rebound onTuesday, which rose around 3% to close above 41 US Dollar per barrel. Besides,Goldman, Johnson and Johnson share price move higher as their quarter earningsbeat expectation. US stock market performed well on Tuesday early session.

    However, IBM and some other high technology companies quarter results aredisappointed, profit taking pressure emerged. The Dow closed 49 points higher(to 18,054) while the Nasdaq fell 20 points (to 4,940).

    Global stock market strength has helped to boost HK stock, while funds is rotatingat different segment. Besides, local blue chips continued to perform well in theUS ADR market, we expect HK stock market will open higher today. On the otherhand, funds flow into small caps, but its share price performance is veryfluctuating, we suggest investors to be cautious.