Market review: June 27, 2016

Fang • submitted 2016-06-27 15:21:11

Market review:

China stocks rose with SHA up about 1.45%. Investors are looking at global central banks to inject more liquidity, in all manners, to stabilize the financial market after Brexit vote last Friday and the feared global selling-off seems at its end, for now.

Research Notes:

Money flowed into Developing Zone, Software and Telecommunication sectors the most. Xiamen Changelight(300102.sz), a LED producer, rallied to limit-up for its expansion into satellite navigation business, and the success of Long March 7 Rocket Launch also boosted interest of investors in this industry.

Despite the stabilization of equity market, DXY’s still in a rally as forex investors seeking safe haven and CNYUSD fell to new low since the year 2011.The weakening of CNY also boosted commodity prices. Coal, rebar and iron ore futures rallied to limit-up as investors positioned for CB liquidity surge and decline of CNY. Some investors are speculating that Fed Rate Hike could not happen in year 2016.The sectors could benefit from Brexit, in our opinion, included gold mining, military , security and international trade, for the short to mid term. The long term recommendations are still electronic cars and new energy leader. The trade for CB support in our opinion could send SHA back to 2950 level or above for the next several weeks.

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author: Fang

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