GS 高盛-中国每日报告 08.22

China-Daily-Insights 08.22 16页

Today’s focus
Asia Economics Flash: Assessing the impact of a potential US slowdown on China
The PBOC raised the 1-year deposit rate by 27 bp and lending rate by 18 bp
China COSCO Holdings (1919.HK): Earnings uplift from shipping expected
China: Specialty Finance: Consumer Finance: Assessing/quantifying the benefits of China retail overseas investing
China Southern Airlines (H) (1055.HK): Results below forecasts but strong pricing environment a positive
Bank of China (H) (3988.HK): Pilot retail QDII scheme: positive for fee income, private banking
Shanda Interactive Ent (SNDA): 2Q07 results preview: forecast higher revenue, lower EBIT margins
KongZhong Corp. (KONG): 2Q07 results: low-margin IVR partly compensates for other declines
CITIC Pacific (0267.HK): 1H07 results preview; disposal of 20% stake in iron ore
Shimao Property (0813.HK): Speeding up turnover the key to sustaining long-term NAV growth
Angang Steel (H) (0347.HK): Interim strong, best positioned in our Chinese steel coverage
Hopewell Highway Infrastructure (0737.HK): Solid FY07 results; no major surprises; staying Neutral
PICC Property and Casualty (2328.HK): 1H07: Good investment & claims performance amid cost pressure
Zhejiang Expressway (0576.HK): Core business in-line; earnings distorted by non-core and one-offs
China: Banks: Rate hike neutral for NIM; watch for inflation; retain Neutral stance
Headline news
NDRC allays price fears (Xinhua)
Heavy polluters face IPO hurdle (China Daily)
Nation to set up new body for public housing (China Daily)
Overseas approval expected next month (Shanghai Daily)
Food, appliances and books lift city's retail sales (Shanghai Daily)