Market was generally in bullish sentiment last week. Fosun Intl, a constituent of CES China HK Mainland Index (CES HKM), surge 8% after the announcement of acquiring Tsingtao Brewery stakes. CES HKM, aiming to track the performance of HK-listed Mainland companies, rose 2.7% and outperformed the comparable peers.
Sell-side research, such as Nomura, imposed an optimistic view on domestic consumable sectors. Goldman Sachs lifted up several domestic consumables’ target price such as Dali Food, one of CES CPE index constituents. CES CPE up 3.1% for the week.
Although gaming sector retreats before Hong Kong Christmas holiday, CES G10, benchmark for gaming, still up 1.0% overall.
