Investment Daily Note

Oil settles higher after the U.S. Energy Information Administration (EIA) reported that crude stockpiles fell a ninth week by 2.34 million barrels last week, which is better than markets’ expectations, easing concerns about a glut. Oil-related sector could continue the upswing.

China Travel International (308.HK)announced a profit warning, stating that the net profit for the six months ended 30 June 2016 is expected to decline approximately by 39% yoy due to the continuing depreciation of the Renminbi against the Hong Kong dollar and the decrease in revenue generated by the travel document the hotel business in Hong Kong and Macau. It is estimated that stock price would likely be suppressed.