外文报告：CPYI-HONG KONG DAILY COMMENTARY-130412

京 華 山 一
Core Pacific - Yamaichi

HONG KONG DAILY COMMENTARY
Friday 12 Apr 2013


Disclaimer: This report is for information only and is not to be construed as an offer to buy or sell securities. While the report is compiled using sources believed to be reliable, Core Pacific - Yamaichi International (H.K.) Limited (“CPYI”)
does not guarantee its accuracy or completeness. CPYI may update or change any information contained in this report without any notice. Neither CPYI nor any of the companies of Core Pacific Group nor any individuals connected with
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Contents
News Briefs .............................................................................................................................................................................................................. 2
Economic Snapshot ................................................................................................................................................................................................. 3
Stock Pick: China Property Sector: NEUTRAL .......................................................................................................................................................... 4


Hong Kong Indices
Closing Change
HSI (11/04) : 22,101.27 0.30%
Finance : 31,154.68 0.39%
Utilities : 56,393.02 -0.11%
Properties : 30,596.58 0.36%
C & I : 12,243.78 0.24%
HSCEI : 10,708.25 0.13%
HSCCI : 4,335.21 -0.06%
HSCI : 3,046.26 0.27%
H-Fin : 14,583.89 0.13%

Turnover (HK$bn) : 57.97 -1.37

HSI Volatility Index : 16.31 0.17


Futures
HSI (Apr) : 22,133 -2
HSI (May) : 21,990 -13
HSI (Jun) : 21,717 -23
HSI Net Open Interest : 106,060 1,059

China Indices
Shanghai 'A' : 2,323.10 -0.29%
Shanghai 'B' : 260.93 -0.05%
Shenzhen 'A' : 958.75 -0.31%
Shenzhen 'B' : 787.49 0.89%

Taiwan Index
TWSE : 7,857.98 1.36%


US Indices
DJI : 14,865.14 0.42%
S&P : 1,593.37 0.36%
NASDAQ : 3,300.16 0.09%

Others (12/04/2013 07:49)
Latest Change
1Y HK$ Fwd (pt) -95 2
1Y HIBOR (%) 0.8507 +0.1 bp
USD/EUR 1.3114 0.0057
JPY/USD 99.63 -0.07
10Y US T Bond (%) 1.7887 -1.5 bp
30Y US T Bond (%) 2.9952 -0.8 bp
Gold (US$/oz) 1,562.40 6.14
Brent (US$/bbl) 103.83 -1.32

Upcoming Results Q: Quarterly result I: Interim result F: Final result
12/04 Birmingham Int'l 2309 I
NETEL 8256 9M
15/04 Sinopharm 1099 1Q
16/04 CH OVS Grand Oceans 81 1Q
CSR Times Elec 3898 1Q
17/04 HKTV 1137 I
18/04 ChangHong JH 8016 1Q
China Overseas 688 1Q
China State Con 3311 1Q
19/04 Aeon Credit 900 F
China Au Group 8176 I
Shanghai Pechem 338 1Q
22/04 Anhui Conch 914 1Q
China ZhongWang 1333 1Q
CQRC Bank 3618 1Q
NE Electric 42 1Q
23/04 ASM Pacific 522 1Q
Huaneng Power 902 1Q
JingWei Textile 350 1Q
24/04 BBMG 2009 1Q
GuangShen Rail 525 1Q
S Capmalls Asia 6813 1Q
SMIC 981 1Q
TCL COMM 2618 1Q

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Hang Seng Indices Volatility Indices China A Share Indices



80
85
90
95
100
105
110
115
120
125
130
135
09/12 10/12 11/12 12/12 01/13 02/13 03/13
HSCEI
HSCCI
HSI
10
12
14
16
18
20
22
24
10/12 11/12 12/12 01/13 01/13 02/13 03/13
Hang Seng Volatility
I ndex
80
85
90
95
100
105
110
115
120
125
130
09/12 10/12 11/12 12/12 01/13 02/13 03/13
SZSA
SSEA