INVESTMENT DAILY

The Hang Seng Index is expected to trade at 22,300 to 22,700today.

    Owing to the military conflict between Turkey and Russia, Hang Seng Indexdeclined for three consecutive days. The index closed at 22,498 points at noon,falling 89 points. HSCEI closed at 10,127 points, dropping 28 points. Turnover forthe morning session was $64.85 billion. The proposed merger between PAH(6) andCKI (1038) was overruled by the shareholders, leading PAH dropped nearly 3 % aswell as CKI decreased less than 1%. The military conflict also contributed to therebound of oil price, supporting CNOOC became the best performance blue clipswith stock price increased 3.3%, PetroChina (857) increased 0.4% only.

    There are lots of US economic data released on Wednesday. Overall speaking, theeconomic data are mixed, but investors believe that it would still support the FederalReserve to start its interest-rate hike in December. However, US stock market doesnot have much responses, trading volume is also at low level, as investors arecautious ahead of Thanksgiving holiday. The Dow and the Nasdaq edged up 1 points(to 17,813) and 13 points (to 5,116) respectively.

    HK stock remained weak recently. Investors focus on whether US Dollar Indexcould overcome 100 and the reaction of EM market. On the other hand, CentralGovernment seems planning exit of A share market. Together with MSCI changeeffective on 30 Nov market close, it might be negative to local listed major Chinaplays. We suggest investors to wait for better entry opportunity.