Investment Daily Note

CK Property (1113.HK) is listed today by the way of introduction, completing the last step of the group restructuring of CKH Holdings (1.HK, HK$122.90). CK Property has a net asset value of ~HK$67.18 per share, according to CKH Holdings.

PBOC yesterday announced guidelines on issue of large-scale certificates of deposit (CDs). Interest rates for the CDs will be determined by the market, implying that full liberalisation of interest rates in the China market is left with one last step-toremove the interest rate ceiling for general deposits. Large-cap China banks are expected to go through a tepid trading day today.