Weak follow through from last week’s market led bounce and the downtrend is still in force.
Meituan is China’s largest food delivery and e-commerce platform for services including bike-sharing, travel booking, movie ticketing, and other entertainment offers. It recently got another USD400 million from major shareholder, Tencent, to expand autonomous delivery services, as it faces regulatory heat.
The recovery that began last week appears to have legs for now and the down call is cancelled. The next level to attain and beat is the top of the March 2021 up channel at HKD535.
HKEX is the city’s only securities and derivatives exchange. A global IPO rush to tap into strong investor demand has led to the bourse netting 46 IPOs in 1H2021.
The broad downtrend is still in force and the view is for more downside.
Tencent is one of China’s largest IT companies whose WeChat app is ubiquitous in the country for communication and payments. It also has vast content offerings including online games, videos, music, sports, and books. Tencent is under regulatory watch for its growing reach and anti-competitive behaviour.
The price path on all timeframes was down until Monday’s session, when some local stabilisation began to occur. HKD 5.73 is the price to beat, before the idea of a technical recovery can be formed.
China Evergrande is a real-estate focused conglomerate that expanded into EVs, video entertainment, theme parks and mineral water, amongst others. So far, founder Hui Ka Yan has been able to lean on an inner circle of billionaire peers to support his highly indebted empire.
Broad trend is still down but price is now at the bottom of this year’s down channel and is therefore in a value zone. Upside momentum has started to pick up and could be at an early stage stabilisation ahead of a recovery.
SoftBank Group provides telecommunications services in Japan but is more famous as an investor of info-tech companies across various sectors including robotics, rideshare, biomedicine, finance, and agriculture. Its investments contain a fair share of hits (Alibaba, Coupang) and misses (Snapdeal, WeWork), and there’s no telling where the next investment sits.
Will need to see the channel return line (upper line) yield before calling a proper upside reversal and trend change. Wait.
21Vianet Group is a carrier-neutral internet data center service provider in China. It provides hosting and related services, cloud services, and business VPN services for retail and wholesale clients.
The broad trend remains up. The price, which has been consolidating since mid-June, is now creeping along the trend support line. Outsize volume in the last trading session suggests that this level is important and holds a move higher.
Founded in 1930, Japan’s Yakult Honsha is known for its namesake probiotics beverage sold worldwide. Its 2030 vision is to evolve into a healthcare brand. It also produces pharmaceutical and cosmetic products.
The price is attempting to reverse up and out of the prior deep oversold value zone. A sideways base looks to be forming to support the potential move higher.
Singapore’s Sembcorp Marine operates shipyards and facilities at home and in Indonesia, the United Kingdom, Norway and Brazil. In June 2021, it announced talks to merge with Keppel O&M to compete for larger contracts and accelerate the pivot to renewable energy. Both companies are backed by Singapore investment company Temasek Holdings.
Price is creeping just below the top of the May 2021 uptrend channel, and although technically exposed, this is a good set up for a pop out. The pattern looks to be a low volume, slack momentum uptrend consolidation. Keep looking up.
Singapore’s CapitaLand is a diversified property company involved in residential, commercial, and industrial property development and management. It is restructuring to become a pure real estate investment manager under CapitaLand Investment Management (CLIM).
Trading halted ahead of takeover announcement on 2 August. The price broke key resistance to the upside 5 sessions back and was still tracking sideways and up above the break level. The longer term price trajectory remains up.
SPH has operated Singapore’s mainstream media since 1984 but has increasingly diversified into real estate and other investments due to declining readership. It’s property investments include a listed REIT, student accommodation in the UK and Germany and aged homes in Singapore and Japan.
The price recently broke through a key resistance level and the longer trend is still up. But expect a minor pull back towards the break level, after which it should push higher towards JPY 20,000 after a rest phase.
Cosmos Pharmaceutical operates a drugstore chain in Japan focused on selling food and daily necessities including health supplements and personal care products at low prices.