In the PM session, market changed direction and moved downward. Till market closed, Medical and Agriculture led the gain. Communication and Electronic led the fall. In total, both markets traded 642.47 billion RMB, down 14.49%.
|Open||Close||% Change||(bn yuan)|
|Sector||Top 1||Led by||Top 2||Led by|
*Chinese Flying Car-Maker Logs Revenue Boost as ‘Air Taxi’ Sales Take Off
EHang, the Chinese maker of self-driving “air taxis,” reported strong revenue growth and a narrowing net loss in the fourth quarter of 2019 as sales of its aerial vehicles ballooned. (China Daily)
*Xinjiang to cut insurance costs worth 6.73 bln yuan for 100,000 companies
Northwest China’s Xinjiang Uygur autonomous region will exempt or reduce insurance premiums worth 6.73 billion yuan (around $946.6 million) for nearly 100,000 companies amid the novel coronavirus epidemic, local authorities said. (China Daily)
*Tongcheng-Elong predicts profitable Q1
According to the company’s annual financial results ended December 31, 2019, Tongcheng-Elong saw revenue rise by 21.4 percent from 6.09 billion yuan ($85.7 million) in 2018 to 7.39 billion yuan in 2019. (China Daily)
Disclosure: Interactive Brokers
Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from Guosen Securities Co., Ltd and is being posted with permission from Guosen Securities Co., Ltd. The views expressed in this material are solely those of the author and/or Guosen Securities Co., Ltd and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.