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Closing Bell (August 15)


Sales Trader, International Business Division


Stocks in China regained all the losing ground after dropping about 2% in the morning, as the yield on 30-year US Treasuries fell below 2% for the first time and the world’s pile of negative-yielding debt surpassed $16 trillion. IT and Electronic Component sectors led the gains, while Leisure and Household Appliance sectors led the falls. Combined turnover for both markets is CNY 389.4 billion, down 1.7% dod.

Close % Change Vol (bn CNY) %YTD
Shanghai 2815.80 0.25 173.67 12.91
Shenzhen 9009.68 0.48 220.27 24.45
CSI 300 3694.00 0.32 119.24 22.70
ChiNext 1555.77 1.24 75.19 24.41
Sector Top 1 Led by Top 2 Led by
Upward-leading IT 300168 Electronic Component 603068
Downward-leading Leisure 000428 Household Appliance 002759


*Morgan Stanley famously nabbed this year’s largest initial public offering, thanks partly to its top technology banker’s moonlighting job as an Uber driver. But the firm is nowhere to be found on what’s shaping up to be the year’s second-biggest IPO, WeWork. Morgan Stanley stepped back from a lesser role in the deal after WeWork rejected its pitch to be the top underwriter. (Bloomberg)

*Casino Giant Galaxy Entertainment’s H1 Profit Drops 7%. Galaxy Entertainment Group, one of the biggest casino operators in Macau, reported a profit drop of 7% in the first half of this year as China’s sluggish economy kept high-end customers away from the world’s richest gambling hub. The company posted a profit of HK$6.7 billion ($850 million) in the first six months on revenue of HK$26.2 billion. (Caixin)


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