Investment Daily Note

Reported by Energy Information Administration, crude stockpiles fell 1.4 million barrels last week. The figure was lower than a decrease of 2.5 million barrels forecast by the markets, offsetting the negative news that the OPEC failed to reach an output ceiling. We estimate oil-related stocks could settle up.

China Singyes Solar (750.HK)proposed rights issue at the subscription price of HK$2.6 each on the basis of one right share for every five existing shares, representing a 11% discount of the last closing price, to raise not less than approximately HK$361.43 million and not more than approximately HK$408.81 million before expenses. We think stock price may face downward pressure.