1. China Mobile (0941/CHL) HK$96.4 BUY
2. China Life (2628/LFC) HK$41.1 BUY
3. China Construction Bank (0939) HK$8.97 BUY
4. Total SA (TOT) US$61.64 HOLD => BUY
5. Shiu On Land (0272) HK$7.4 STRONG BUY
- Irish finally got its $$ and the next bond maturity bubble in Europe is Spain & Portugal. Wall street analysts make it sounds like a crisis. In fact, those are simply finding new bondholders to replace their old bonds.
- I think Europe will struggle with slow economy growth for years. The way Europe handle financial crisis is completely opposite than USA. In USA, the quantitative easing buy t-bills, increase money supply in order to prevent deflation, USA increase spending & Debt GDP ratio to boost economy. On the other hand, Europe focus on cutting expenses, reduce debt & reduce money supply. I still think quantitative easing will be a better approach.
- 2 weeks ago I said Hong Kong stock market climb up from 19,000 to 25,000, then drop back to 23,000 is a reasonable adjustments. You can see a strong support at 23,000. I think it will rise back to 25,000 soon.
- I don’t think North Korean issues is a big deal, there will not be a war, but the conflict will continue until I dunno, until North Korean leaders “golden” father & son collapsed, um……..say few years later.
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