Daily Brief Financials: China Jinmao Holdings, Bitcoin, Xiamen International Investment, Hong Kong Hang Seng Index and more

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• China Jinmao Holdings
• Sunny Optical Technology Group
• Tata Motors ADR
• Vedanta Resources
• Yanlord Land

• The bitcoin halving is officially insight, expected to occur in late April 2024.
• Unlike bitcoins competitors for money like the US dollar or British pound, its monetary policy is programmatic, simple, immutable and transparent to its holders.
• The upcoming halving will reduce the block subsidy to 3.125 BTC a block, trimming bitcoins issuance rate to 0.9%.

• Xiamen International Investment (1567256D HK) is looking to raise up to US$1.3bn in its upcoming HK IPO. The deal will be run by CICC, Citic Securities, Huatai and Industrial Securities.
• Xiamen International Investment (XII) is an integrated financial services group based in China’s Greater Bay Area. 
• The Group has two commercial banks headquartered in Hong Kong and Macau, respectively and operates through its two banks Chiyu Banking Corporation (CYB) and Luso International Banking (LIB).

• The Hong Kong Hang Seng Index (HSI INDEX) has been in a downtrend since January 2018. Long-term direction unclear, but the WEEKLY period is mildly OVERSOLD, it may bounce soon.
• The case for a LONG trade is valid if the market does not fall > 2 consecutive weeks from June 30th’s Close (18916.43). High-probability LONG trades from 17786.
• SHORT trade strategy possible but requires patience: if the market rises, it could rise for 2-3 weeks, based on MRM’s pattern readings. Better wait and short that scenario, not earlier.