Investment Daily Note

Market Highlights

The Bank of England cut its benchmark interest rate to 0.25% from 0.5%, and it will purchase up to ￡10b of UK corporate bonds and an expansion of the asset purchase scheme for UK government bonds of ￡60b, taking the total stock of these asset purchases to ￡435b. It is estimated that it would lift the stock markets in near-term.

China Resources Cement (1313.HK) is scheduled to announce interim results for 2016 ended June 30. It has announced a profit warning in advance, stating that profit attributable to shareholders is expected to significantly decrease on year-on-year basic. However, the fact may price in and stock price is expected to consolidate at current level.