Investment Daily Note

Market Highlights

China Securities Regulatory Commission denied it was pulling out from its latest market rescue action, and said it would continue to stabilize the market and prevent systemic risk. We expect Shanghai Composite to be range-bound between 3,500 and 4,000 in the short run.

A joint venture formed between Far East Consortium (35.HK), Chow Tai Fook Enterprises and an Australian gaming operator succeeded in bidding for the development and operating rights of a casino project at Brisbane, Australia. We expect the news to be positive to long-term development of Far East Consortium, which should in turn bring support to its share price.