Singapore Airlines reports S$1.12 billion net loss in Q1

Used to be one of Singapore's crown jewel, its share prices is really going down the drain due to COVID-19 and it doesn't seem to look like it is going to recover anytime soon looking at the airline industries all halting almost more than 90% of their primary activity which is flying.

Revenue for the group plunged 79.3 per cent year-on-year to S$851 million in the first quarter ended Jun 30, while expenditure dropped 51.6 per cent to S$1.89 billion.

Overall passenger carriage fell 99.5 per cent - 99.4 per cent for Singapore Airlines, 99.8 per cent for SilkAir and 99.9 per cent for Scoot. 

Source: Channel NewsAsia

Looking at its weekly chart (skipping the daily one for now), it does not seem to show any signs of recovery and I do not think one should try to buy any rebound at this point in time. It is now at its all time low and likely going lower with no means to really determine where is the bottom. We will need to look at the other sources like pharma companies on their capabilities to push out the vaccine to see a potential recovery in SIA.

In terms of going down and out, I would think it may not be the case as it has Temasek holdings as its backing and recently issued rights to secure more funding to stay afloat. Worst case scenario might be to nationalize SIA which may allow it to avoid public scrutiny. SMRT back then was a good example of such an approach.

SIA Weekly

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

China’s Tencent is now bigger than Facebook after adding around $200 billion to its value this year

Latest news from CNBC:

Tencent’s market capitalization has surpassed Facebook’s following a huge rally in the Chinese firm’s shares this year.

The gaming and social media giant’s market cap stood at 5.15 trillion Hong Kong dollars ($664.50 billion) at around 3:07 p.m. Singapore time. Meanwhile, Facebook’s market cap totaled $656.15 billion as of Tuesday’s close.

Tencent shares have rallied around 43% year-to-date, compared to just over 12% for Facebook. That has added around 1.53 trillion Hong Kong dollars ($197.74 billion) onto Tencent’s value. 

Source: CNBC

Interesting to see how it goes from here as alot of the big banks has Tencent's target price above 600.


Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Hang Seng Tech Index closing positive for today

Today the Hang Seng Tech Index closed positive however looking at the constituent stocks, the top 4 companies didn't do so well and it was really held up by Hua Hong Semi (1347.HK) +13.3% and SMIC (0981.HK) +8.74%.

If the heavy weighted constituent companies are not doing well despite the Index being up, we will need to be cautious to see where the market is trending.

Below is courtesy from AAstocks:

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Hang Seng Tech Index

In case if anyone is interested in the list of companies that form the index below is the link and it shows the Index as well:

http://www.aastocks.com/en/stocks/market/index/hk-index-con.aspx?index=HSTECH&t=1&hk=0&s=5&o=0

Half the day is gone and half of the constituent companies are down currently and US futures are also down as well. With the Big 4 tech going to the antitrust hearing this week, it will be interesting to see what the impact would be on Nasdaq and S&P 500 (the big 4 tech companies are part of S&P if you are not aware and the weightage is pretty big as well).


Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Xiaomi (1810.HK)

Being one of the Hang Seng Tech Index, its constituent weighting is at 8.11%, ranking at #4. 

Xiaomi Corporation is a Chinese electronics company founded in April 2010 and headquartered in Beijing. Xiaomi makes and invests in smartphones, mobile apps, laptops, bags, earphones, shoes, fitness bands, and many other products.

Looking at the daily chart, it is definitely not pretty and it seems to be forming a lower high and lower low. However, looking at the weekly chart, if it holds within the long green bar that was formed on week of 6 July, it would likely be positive and poise for a potential move. 

It seems more volatile compared to Tencent and Alibaba as it has a big presence in India and due to the border tensions, it may get more price volatility in the short term until the governments sort out their differences. 

*I currently hold Xiaomi shares. 

1810.HK Daily

1810.HK Weekly

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Selling in Nasdaq and Russell

Markets were down generally during US hours and we will see that Tech is broadly down again yesterday with the Big Tech (Apple, Google, Microsoft, Amazon) and the crown jewel of US, Tesla.

With Nasdaq down by 1.27%, it is expected the Hang Seng Tech Index will likely take a hit as well today.

However, if you look at the other sectors, Financials were not that bad with most of the Big Banks getting a small gain with the exception of Morgan Stanley. Energy sector however is getting a hit with most of the big oil companies like Exxon, BP, Chervon falling around 1-2%.

It is likely to see volatility this week as earning season starts so watch out!



Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Alibaba (9988.HK and BABA SW)

Sharing some view on Alibaba which is listed in both US and Hong Kong, it is also part of the Hong Kong Tech Index where it is around 8.53% of the index.

Looking at the daily and weekly chart in US, it would seem like it is now consolidating in a big range, possibly reversing in a downward trend but will need to monitor how it goes for the next few days. Looking at the weekly chart, as long as it does not close below 234.19 it would be a good bullish signal.

One thing to note as per what was shared earlier, Alibaba like Tencent is also getting the hit from the India Government due to the border tensions so we will need to monitor that situation closely. Also as Alibaba is listed in US and with the US government hitting chinese companies hard and fast, Alibaba being one of the more prominent companies would likely get the (unwanted) attention.

*I currently hold 9988.HK and the reason why I chose that is because its firstly cheaper to own in Hong Kong and being in Asia it will be easier to monitor the stock as well since both are somewhat mirroring in terms of movement. Also considering there might be a possibility that Alibaba may just list in Hong Kong in the future due to the US China tension, funds may flow back to HK which may push the prices higher.

BABA Daily

BABA Weekly

Sharing also the HK charts although it is quite similar in nature.

9988.HK Daily

9988.HK Weekly

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!

Joseph Yam: Worried About 3rd Financial Crisis Brewing

Former HKMA Chief Executive Joseph Yam, in an interview, expressed his concern that the third financial crisis may already be in the womb of time, as woes brought by previous financial crises remain unresolved. However, the US Fed and central banks worldwide continue to adopt quantitative easing and inject more funds into the economies.

Seeing huge debt, high deficit and no deposits in the United States, Yam is worried over a sharp USD downturn, rather than depreciation pressure on HKD.

Source: http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1030558/popular-news

Another item to take note is the rise in Corona virus in Hong Kong which the city state has been swift in its action to close many activities but noting the potential impact to the economy again... 

Looking beyond Tech and Gold

I will be sharing some views on 2 specific sectors that are underperforming and may have a good opportunity for an upward move. Currently as we can see, Tech and precious metals like Gold and Silver are leading the way in the markets and mainstream media so it would not be good to chase high prices in case of picking up what the big boys may dump. 

2 sectors that I am looking at currently is energy and financials which both are lagging behind. 

Tencent Holdings (0700.HK)

Key summary on TCH (0700.HK) -

As part of the new Hang Seng Tech Index, Tencent makes up 8.52% of the new Tech Index and Tencent Holdings operates through the following segments: Value-Added Services, FinTech and Business Services, Online Advertising, and Others. The Value-added Services segment involves online and mobile games, community value-added services, and applications across various Internet and mobile platforms. The FinTech and Business Services segment provides fintech and cloud services, which include commissions from payment, wealth management and other services. The Online Advertising segment represents display based and performance based advertisements. The Other segment consists of trademark licensing, software development services, software sales, and other services.

Looking at the daily chart, it looks like it is consolidating with the lower range at $516 and currently just above its 20MA. Looking a the weekly chart, although it has made its parabolic move up to the highs of $565, we are seeing some form of consolidation within the top range. If this continues to consolidate, it might see a higher price movement depending on the broader market trend especially when Nasdaq moves. 

One thing to take note though is the tension between India and China even though Mainstream media has always been covering the tension between US and China. India is also a big market for some of the big C-Tech (i call it China Tech) firms like Alibaba, Tencent, Xiaomi and the border tensions has recently made the India Government take some drastic moves against the chinese companies. We will need to continue to monitor the situation to see how things unfold. 

*I currently hold Tencent shares

Details of Tencent via AAStocks: http://www.aastocks.com/en/stocks/quote/detail-quote.aspx?symbol=00700

Tencent Daily

Tencent Weekly 

Analyst target price (courtesy of Tiger Brokers application)