Investment Daily Note

US stocks lower; three major indices down .

US stocks pulled back from Monday’s historical highs without any key news to celebrate in the market. Dow closed at 18,203, down 85 points. S&P 500 closed at 2,108, down 10 points. NASDAQ closed at 4,980, down 28 points. ADRs down in the US market, with their closing prices effectively putting HSI down 141 points, closing at 24,562. Libya’s strike added uncertainties to crude output, sending oil prices back above US$50. New York crude oil futures closed at US$50.52/bbl, up US$0.93. New York gold futures settled at US$1,204.4/oz, off US$3.8.

HSI tracked Mainland losses, may find support at 24,500 pts .

The Hang Seng Index joined Mainland markets on a decline after opening 97 points higher, closing at 24,702, off 184 points. The HSCEI settled at 11,945, down 268 points. The market turnover was HK$79.9bn. Solar energy and nuclear power sectors were chased after yesterday. Xinyi Solar (968.HK, HK$2.54) and Comtec Solar (712.HK, HK$1.08) rallied 7.2% and 8% respectively. CGN Power (1816.HK, HK$3.22) gained 3.5%. AIA (1299.HK, HK$48.35) hit another record high by a 2.1% growth, being the top gainer among blue chips. Macau’s February gaming revenue shrank 48.6% YoY, topping market forecasts though. Galaxy Ent (27.HK, HK$40.00) and Sands China (1928.HK, HK$35.90) added 2% and 1.7% against market downtrend.