China Market Intelligence
Timely, relevant and actionable information and analysis on China
Stock Connect Roundup: A-shares Rise, H-shares Fall, HSBC Tumbles After Profit Slump
SH-HK northbound turnover was down 2% to RMB3.3bn, with 58% buy trades. SZ-HK northbound turnover increased 9% to RMB2.1bn, with 69% buy trades. SHCOMP was up 0.41% to 3,253.33, SICOM increased 0.74% to 10,405.75, and CSI 300 Index was up 0.33% to 3,482.82. Shanghai Bailian Group [600827:CH], hit its 10% rising cap for the second session, while Yonghui Superstores [601933:CH] also shot up 10% to a 16-month high, after Alibaba Group [BABA:US] said it formed a strategic partnership with Bailian Group, boosting appetite for shares in listed retailers. Retail was one of the best performing sectors, +4.30%, while the food & beverage industry sector was the worst performing, -0.42%. The most active stocks in SH-HK and SZ-HK were Kweichow Moutai [600519:CH], -0.70%, and Yunnan Baiyao [000538:CH], +1.48%.
Regulators Consider Revising Asset Management Rules
PBoC, CSRC, CBRC, and CIRC are contemplating new rules on asset management products, which might include removing government guarantees and unifying leverage ratio requirements on different products, according to Bloomberg and 21st Century Business Herald. The proceeds of asset management products are banned from being invested in non-standard credit assets, or in beneficiary rights linked to such assets. 10% of fees are required to be set aside as reserves for potential risks. For structured products, the leverage for fixed income, stocks, and other types of investments are 3x, 1x and 2x, respectively. For mutual funds and private funds, there will be caps of 140% of their total assets and 200% of net assets.
iQiyi, China Unicom Partner with Ericsson on Network Optimization
Ericsson [ERIC:US] announced on February 20 that it has teamed up with iQiyi and China Unicom [CHU:US] in order to optimize the apps mobile network configuration, improving the overall app experience and boosting streaming speeds. iQiyi is utilizing Ericsson's App Experience Optimization program, used by platforms such as Facebook [FB:US] and WeChat, to analyze network data and provide optimization solutions. The improvements will apply to all those who access the app through China Unicom's network.
Gree and Zhuhai Yinlong Official EV Partnership
Gree [000651:CH] made a company announcement on its partnership with electronic vehicle (EV) maker Zhuhai Yinlong on February 20. More specifically, the two companies will collaborate on smart devices, molding, casing, auto air conditioners, new energy vehicles, electric motors, electrical control systems, and energy storage. Under the agreement, either party will prefer the other in terms of products and service suppliers, with the total purchase budget under RMB20bn yearly.
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