Reason for Recommendation
domestic economy
3, U.S. stocks opened higher as Asian markets rally, but by the weak U.S. economic data and the impact of rising U.S. stocks close slightly higher.
major news
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IPO news
Overseas Economic
2, hot money inflows Hong Kong stocks rose across the board stock brokerage related: HKEx (388 ) rose 4.87%; China Everbright Holdings (165) rose 4.47%; SW (218) rose 4.53%; First Shanghai (227) rose 5.43%; Tai Fook Securities (665) +5.9%; Partners Group (806) liters of 2.29 %.
2, 1 Ministry of Commerce issued . annual imports and exports about 2.8 trillion dollars, about 25% more than last year. This has far exceeded early projections set target of 8%. This year, the world economy continued to slow recovery, sustained and rapid growth in the domestic economy , steady export, import policy continues to show expansion, further enhancing the overall competitiveness of enterprises. In these factors together, the first three quarters of China's foreign trade and rapid growth resumed, expand market outcomes significantly, adjust the structure steady progress, and promote balanced goes well, the scale of import and export levels are over the same period in 2008, the overall better-than-expected early next year was .2011 of domestic factor costs continue to rise trend, increasing pressure on business, foreign trade situation is not optimistic. 2011, China's foreign trade will continue to to maintain growth, but growth may be somewhat lower.
1, is mainly engaged in mining, ore dressing, production and pellets sales of iron ore and titanium ore.
2, relatively attractive valuations .09 gross margin up to 46%.
3, iron ore prices continue to rise. iron ore rose 5.79% in recent months, is the best performing commodities over the past month.
4, the amount of wide-positive resource prices, by the holding plate of goods, from the basic analysis, iron and titanium attractive valuations, or can be traced backward.
1, opening bid, the target price of 4.60 yuan, 4.15 yuan below the stop loss.
today focus
10 月份 China Manufacturing Purchasing Managers Index (PMI) is expected to win the market and stimulate the Shanghai Composite Index rose more than 1%. Hong Kong stocks in the mainland stock market made a good stimulation, has opened 270 points higher than the reported 23,366 points, followed by a larger increase, to nearly 23,652 full-highest close, up 556 points, or 2.4%, recovered ten days and twenty antenna (respectively 23484 and 23353), turnover increased to 91.0 billion.
strategy
2, U.S. personal income and personal spending figures were just below market expectations, showed the U.S. economy remained weak. But the ISM manufacturing index is much higher than market expectations, showed signs of improvement in U.S. manufacturing.
1, 11 Chinese Federation of Logistics and Purchasing 1 released data show that in October China Manufacturing Purchasing Managers Index (PMI) was 54.7%, 0.9 percentage points qoq, picked up the third consecutive month. Displays the current sound momentum of development in China to further strengthen the economy, the future economic development will present steady and rapid momentum. from the sub-index of view, showing an overall steady growth. Ibid month, the new orders index, production index, index of purchases of raw materials inventory, finished goods inventory and purchasing prices on the rise. which purchasing price index showed the largest increase of 4.6 percentage points. The index has more than 60% gains for three consecutive months. import index, new export orders index, the backlog of orders index, employing index was slightly down, down are in a range of percentage points or less.
1, the U.S. Institute for Supply Management released November 1 report showed U.S. manufacturing activity index in October 56.9, higher than September's 54.4, to achieve 15 consecutive months of expansion, showing that the U.S. economy is gradually recovering. U.S. Department of Commerce announced on November 1 data showed September U.S. personal consumption expenditure increased slightly by 0.2 over the previous month %, but personal income fell 0.1%. the third quarter, U.S. consumer spending growth of 2.6% over the second quarter's 2.2%, also a record since 2006, a new high since the fourth quarter. The data also shows that U.S. household savings rate in September 5.6% the previous month to 5.3%, but still well above pre-recession level of .2007 average U.S. household savings rate was only 2.1%. U.S. third quarter GDP growth of 2% annual rate, the basic line with market expectations, This result has improved compared with the second quarter.
B shares H shares account opening U.S. stock futures account opening HSI Singapore share accounts Shanghai Hong Kong stocks Account Beijing Hong Kong shares open an account Guangzhou Hong Kong shares open an account,UGG shoes, Shenzhen Hong Kong shares open an account in Tianjin Hong Kong shares open an account in Chongqing Hong Kong shares open an account Hangzhou Hong Kong shares open an account Chengdu Hong Kong shares open an account Shenyang Hong Kong shares open an account, Wenzhou Hong Kong shares open an account Suzhou Hong Kong shares open an account Qingdao Hong Kong shares open an account Wuxi Hong Kong shares open an account Foshan Hong Kong shares open an account Ningbo Hong Kong shares open an account, Wuhan Hong Kong stocks Dalian, Nanjing, Hong Kong stocks account account account of Hong Kong equities Hong Kong shares open an account, Xiamen, Dongguan Hong Kong stocks account
China Railway titanium (893.HK; $ 4.15)
good amount of wide plate by holding commodity resource prices.
suggested retail price of $ 4.15
target price of $ 4.60
Stop Bit $ 3.90
recommended holdings
, judging from the market, in October of resources, goods and other period Class A shares outperformed the market overall. But there are two aspects, we still have the advantage that the cycle class. the one hand, from a longer period of time to Look, the performance of the class period or weaker than the stability of class; on the other hand, the cycle class of the industry's strength has only just begun, but not to the negative cycle in order to increase the degree of class.
are offering - Tianlun Gas (1600)
Introduction of new shares - a leading gas supplier in Henan
Sponsor - Construction Silver International
funds raised - 3.04-4.13 billion investment proposal
- proposed subscription
suggested reasons - the gas has a clean, efficient, versatile, and reliable, the state launched the industry in the past a lot of support programs, as well as industry in the past 10 years to maintain a CAGR of 15%. Tianlun gas revenue increase of 08 and 09, respectively 74% and 58%, net profit grew by 208% and 86%, performance is very good. Company 11 PER 9.1-12.3 times higher than the industry average of 15.2 times the estimate has some room for growth, the proposed subscription.
are offering - long a real estate (957)
Introduction of new shares - Shanghai Real Estate Development Business
sponsors - Citigroup,UGG boots, Merrill Lynch
funds raised --32-48 million
1, China announced yesterday October manufacturing PMI, the data show the continued expansion of China's manufacturing sector,bailey UGG boots, new orders are accelerating. Also at the same time purchase cost figures up.
1, the central authorities may in the near future Coal resources tax levy. Mainland media quoted sources, the Central may be imposed in the near future coal resource tax rate will be 3% to 5%. Insiders pointed out that if the coal resource tax collection rate between 3 to 5% Coal prices are believed to be the range of tolerance; Furthermore, the assets held by the upstream coal prices, will increase the cost passed on to downstream businesses, such as electricity prices and steel prices, etc., so the expected limited impact. Mainland Central late last month issued Coal resources tax reform will include the expected range, and to make active preparations for the reform of resource tax. At present, China coking coal resource tax unified 8 yuan per ton, the rest of the region up to a maximum coal rate of 3 yuan per ton, the current levy rate actual sales of coal enterprises accounted for about 1%.
1, the price of gold rise, gold stocks rose sharply: Zijin Mining (2899) up 4.1%; Zhaojin Mining (1818) rose 5.6%; Spirit Gold (3330) rose 8.46%; Gold Mining (246) rose 4.06%.
Hang Seng Index futures and technical analysis
plate movements
2, AH shares for shares of China Construction Bank raised RMB 61.7 billion people. Construction Bank announced that, A shares to 0.7 shares for every 10 shares for a rights issue ratio, A Unit price 3.77 yuan for the (yuan. the same below), AH shares raising a total of about 61.67 billion yuan, the upper limit of 75 billion yuan announced earlier, Jin Yicheng reduce the scale of eight. Construction Bank shares for A shares 3.77 yuan, compared with yesterday received market price of 5.16 yuan, a discount of 26.94%; if Hong Kong dollars equivalent, H shares available for trading at about 4.36 Hong Kong dollars, representing the closing price of 7.64 Hong Kong dollar yesterday, up 42.93 percent discount rate. AH CCB shares totaling about 16.358 billion shares for the placing shares , where A shares allotted 630 million shares, raising the scale of only about 4%, and the remaining 96% financing in the Hong Kong market, H-share market a total of 15,728,000,000 shares allotted.
from the fundamental point of view, global central banks have taken relaxed monetary policy to a large amount of liquidity into the market, liquidity is bound to promote the proliferation of resources higher prices, coupled with domestic economic recovery (mainland just released yesterday, October PMI picked up for 3 months), in large part to resolve the cycle class of stock performance risk, and the valuation of the current cycle and the location of stocks still at a relatively reasonable price, so the cycle stocks such as commodity sector performance in the future will continue to be sought after market.
market review
the market outlook
U.S. stocks on Friday Trading was subdued, and economic growth in line with expectations, but investors still waiting to see mid-term congressional elections and the FOMC meeting results, so not much change in the external market conditions, the Dow edged up 4 points, while the stock market in Asia outside Japan made a comprehensive Well, Hong Kong stocks more urgent occasion to play the more than six points; Monday morning session of that day low of 23,250 to rip open 277 points higher, then continued to rise to the level of 23,500 to 23,600 leather, made further good afternoon, Yao City, relying on up to 23,650 a day high, and finally to 23,636 high-income, surged 663 points, 17 points lower water turnover of nearly eight million. 91.1 billion stock deal. external market conditions leather, but the Asia Pacific market for the better, may affect the inflow of funds to promote the country in a rising market , while the mainland stock market has surged more than two percentage points to stimulate the good of Hong Kong equities, that is positive for candle city break for 10 days and 20 emergency antenna, close to the highest level this year, so that technical indicators turned sharply flat, but after last week's modest adjustment , overbought pressure has been digested, I believe in the promotion of funds, investors the chance to pick twenty-four thousand mark, and the U.S. interest-rate results will be announced on Thursday, so the trend may be more volatile in early this week, and the surge may be back to test support, therefore, should short-term advantage of the opportunity that the main city, to be back to the examination before they can absorb. State of the morning session 280 to 13 397 points higher open cracks, a little back to test low as 13,359 a day low rebound quickly, the middle level of contention in the 13,500,UGG boots cheap, Yao City, a further rise, the maximum rose to 13 533 full-time high, and finally to 13,519 high-income, surged 402 points, closing thirty-eight thousand. the overall market is stronger, coupled with the mainland stock market rally, the Shanghai Composite Index back on the thousand-point mark , the atmosphere of the market played an active role in the country back on the period of 10 days and 20 antennas on top of a short three-day losing streak to break the trend, a temporary short-term adjustment may be done, the index high chance to pick this year, while the technical indicators were flat to Day care about the fate of the performance of the Mainland market conditions may be, if the co-ordination will lead to another year of high country, so that the city can designate low-built, short-term, depending on the Mainland to homeopathy based on market conditions.
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3, looking forward to rising inflation, non-ferrous metal stocks continue to stir: Chalco (2600) rose 2.85%, Jiangxi Copper (358) rose 6.02%, Hunan Nonferrous Metals (2626) rose 8.67 %, Luoyang Molybdenum (3993) rose 4.97%, the Chinese iron titanium (893) rose 2.98%.
4, Hong Kong stocks rose sharply yesterday, more than five point, one-day gain of 4-month high, but the volume did not increase significantly. China may soon receive the coal tax, and the construction line for the shares, will be detrimental to the large-cap stocks, is expected today, Hong Kong stocks above the consolidation in the 23500 .
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daily an (investment promotion)
macroeconomic comments
goods sector outperformed the market last month, we believe that strength will be sustained in the season
< p> QE good resource prices of goods plate by holding
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