Investment Daily

On the final trading day of 2016, Hong Kong equities jumped and surpassed22,000-level. HSI Index increased 209 points to close at 22,001 points. HSCEIclosed at 9,395 points, rising 82 points. Turnover remained low at $53.8 billion.

    Macau will announce the Full year gambling revenue of 2016, all gambling stocksrose. On the other hand, the gold price increased to two-week high, supporting thegains of gold mining stocks. Mainland banks shares price continued its recentrebound, which provide support to the Hang Seng indexUS and UK stock market closed on Monday due to new Year holiday. Eurozonemanufacturing Purchasing Managers Index rose to 54.9 in December, which is thehighest level since 2011. Besides, the troubled Italian banks plans to issue debt,triggered buying interest on Europe banking sector, Europe stock index rose 0.5%on Monday. Looking ahead this week, investors focus will eye on the Fed meetingminutes to be released on Wednesday as well as US non-farm payroll data onFriday.

    Thanks to yearend window dressing activities, Hang Seng Index rebounded to22,000 level but turnover remained low. Looking ahead, as Jan is a traditionallytime period for institutional investors to re-allocate its portfolio, our focus willconcentrate on whether fund flow from EM to US will change. Hang Seng Indexmajor support is 250 Day SMA.