Market review: May 19, 2016

Fang • submitted 2016-05-19 15:31:05

Market review:

No sector can rise sustainably recently, and with the money tight in mid-year, China stocks generally stayed stable. Funds choose intra-day trading, sell morning and buy back in the afternoon. Also GEM been chosen as the new Battleground today with its better flexibility. For the FOMC minutes, Investors considered the wording ‘s biased to hawkish side and USD got some support overnight.

Research Notes:

Money flowed into Electronics, Software and Steel sectors the most. Hubei Feilihua Co.(300395.sz), a quartz glass producer, rallied to limit-up for NDRC encouraged the industry upgrading in OLED and AMOLED manufacturers.

The rebound of USD suppressed both CNY and commodities. Iron ore and rubber futures fell about 4% while agri futures relatively stayed stable. As investors would still concern about the FOMC meeting in June, the time between now and June 15th could be volatile and trendless. But we still expect some rebound from June, for now, as the uncertainty from Fed would be cleared by then.Any dip below SHA 2800 could be used to load some shares from agriculture and food& beverage sectors, which are estimated to outperform in the summer.

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author: Fang

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