Investment Daily Note

China may resume refinancing approval by Refinancing Issuance Examination Committee this Friday the earliest, which may divert market liquidity, adding pressure to the stock market.

StanChart (2888.HK)announced interim results yesterday, with pre-tax profit at US$2.098bn, down 35% YoY. The company slashed interim dividend to US 14.4 cents, down 50% YoY. Share price of StanChart closed yesterday in London at 954.7 pence, down 0.2%. StanChart’s slash of dividend is well expected, and should limit the pressure on its share price.