Investment Daily Note

Market Highlights

Organization of Petroleum Exporting Countries (OPEC) and Russia both hinted at oil production cut; global oil prices rebounded. Coupled with strong performance of U.S. equities led by some blue-chip stocks, Hong Kong equities may follow the overseas markets to do better. However, the extent of any rebound would depend on performance of the mainland market; we expect initial resistance at around 19,400.

CPIC (2601.HK)issued positive profit alert and expected last year’s profit attributable to equity-holders to rise 60% YoY, due to substantial increase in investment income. CPIC may do well on the positive profit alert.