19 July 2022: Stocks making the biggest moves
Market Movers | Trading Dashboard
United States
Top Sector Gainers
| Sector | Gain | Related News |
| Oil & Gas Production | +3.08% | Oil Stocks Rise As These Field Service Giants Prepare To Report Earnings ConocoPhillips (COP US) |
| Other Metals/Minerals | +2.76% | Copper Price extend Friday’s recovery on softer USD, China’s efforts to tame housing woes Freeport-McMoRan Inc (FCX US) |
| Integrated Oil | +2.41% | Oil Stocks Rise As These Field Service Giants Prepare To Report Earnings Exxon Mobil Corp (XOM US) |
Top Sector Losers
| Sector | Loss | Related News |
| Property/Casualty Insurance | -2.27% | Progressive H1 2022 results impacted by investment losses Progressive Corp (PGR US) |
| Medical Specialities | -2.18% | ClearBridge Appreciation Strategy Portfolio Manager Commentary Q2 2022 Thermo Fisher Scientific Inc (TMO US) |
| Pharmaceuticals: Major | -2.14% | Stock futures are flat after Dow reverses course to start a busy earnings week Johnson & Johnson (JNJ US) |
- Goldman Sachs Group Inc/The (GS US) jumped 2.5% after the company posted profit and revenue that exceeded analysts’ estimates. Goldman’s fixed income traders generated roughly $700 million more revenue than expected on “significantly higher” trading activity in interest rates, commodities and currencies.
- Shares of Delta Air Lines Inc (DAL US) jumped 3.5% on news that it’s purchasing 100 Boeing 737 Max 10 planes, in a deal that marks Delta’s first new Boeing aircraft order in over a decade.
- Industry shares spiked as the price of oil jumped on fears that supply will remain tight. Natural gas also surged, adding to energy sector gains. Marathon Oil Corp (MRO US) gained 3.5%.
- Grab Holdings Ltd (GRAB US) jumped 9.6% after JPMorgan upgraded Grab to overweight form neutral. JPMorgan described the sentiment around Grab as “extremely cautious,” setting up a potential bounce if quarterly results beat expectations.
- Coinbase Global Inc (COIN US) jumped 9.1% after DNB Asset Management, a large European asset manager, bought shares of the cryptocurrency exchange. Bitcoin also surged to a monthly high.
Singapore
- Genting Singapore Ltd (GENS SP) shares fell 1.9% yesterday. Genting Singapore on Monday said it is aware of reports that the casino operator’s controlling shareholder was approached by MGM Resorts International regarding its interest in a deal. Controlling shareholder Lim Kok Thay has since told Genting Singapore that its parent company, Genting Bhd, had received an unsolicited approach for its shareholding in the Singapore unit and won’t be pursuing the offer.
- Golden Energy & Resources Ltd (GER SP) and Geo Energy Resources Ltd (GERL SP) shares rose 4.4% and 6.8% respectively yesterday. A looming ban on Russian coal imports by the European Union will add to supply pressure that’s sent prices of the fossil fuel hurtling to a record, according to a key Australian producer. Global supply constraints and strong demand pushed Asia’s benchmark Newcastle thermal coal to a quarterly record of $377 a ton in the three months through June. China has also been contemplating easing restrictions around Australia’s coal exports over reports the country is seeking to avoid the power shortages that saw factories shut down and caused sudden blackouts last year. Keen investors wasted no time jumping on to these rumours, resulting in a rise in share prices for coal mining companies.
- Frencken Group Ltd (FRKN SP) and AEM Holdings Ltd (AEM SP) shares rose 2.7% and 2.3% respectively yesterday. TSMC shares jumped 3.7 per cent on Friday outperforming the broader market, after the Taiwanese chipmaker announced forecast-beating second-quarter profit, with analysts buoyant on the firm’s outlook despite some downside concern. It posted on Thursday a 76.4 percent leap in profit for the April-June period of 2022, to T$237.0 billion ($7.92 billion). It said it was “highly confident” about its long-term prospects, though also signalled cooling demand from consumer electronics customers who it expects to reduce chip stockpiles over the next few quarters into 2023.
Hong Kong
Top Sector Gainers
Sector | Gain | Related News |
Nonferrous Metal | +2.37% | China’s June aluminium imports down 36.3% y/y China Hongqiao Group Ltd (1378 HK) |
Coal | +2.29% | End of coal ban would stabilise China relations, says Australia Yankuang Energy Group Company Limited (1171 HK) |
Electricity Supply | +2.03% | China’s power battery output surges over 176 pct in H1 Datang International Power Generation Co., Ltd. (991 HK) |
Top Sector Losers
Sector | Loss | Related News |
Software | -0.23% | A Chinese office platform confirms that users’ files on its cloud server are subject to censorship SenseTime Group Inc. (20 HK) |
Precious Metal | -0.18% | US Dollar Index stays depressed below 108.00 as Fed hawks retreat Shandong Gold Mining Co Ltd (1787 HK) |
Other Support Services | -0.13% | NA New Oriental Education & Techlgy Grp Inc (9901 HK) |
- COSCO Shipping Energy Transportation Co Ltd (1138 HK) shares rose 16.4% yesterday. In the week of July 15, the VLCCTCE level rose 68% to $7715/day. Crude oil shipping rates have risen for five consecutive weeks, and the fundamentals of crude oil have improved more than expected. China Merchants Securities also stated that the recent marginal improvement in the VLCC market has been relatively obvious, and the medium and long-term fundamentals are still improving, leading to institutions recommending COSCO SHIPPING Energy.
- LK Technology Holdings Ltd (0558 HK) shares rose 8.3% yesterday. LK Smart, a subsidiary of LK Technology, has built a large-scale die-casting machine production base in Hangzhou Bay New District, Ningbo, which is expected to be completed and put into production next year. It is reported that the new production base will have an annual output of 400 large-scale die-casting machines after it is completed and operational. The die-casting machine market has bright prospects with the acceleration of integration of die-casting by new energy vehicle manufacturers and the value of the machine expected to increase to about 14,000 yuan.
- Inner Mongolia Yitai Coal Co Ltd (3948 HK) shares rose 7.6% yesterday. A research report by CICC pointed out that in 2H22, the coal market will be affected by the recovery of domestic demand and the weakening of foreign expectations. The tight supply and demand balance will continue to support the high profitability of coal companies, but concerns over the European and American economies will suppress the valuation of the entire sector to a certain extent. Overall, the coal sector is still expected to maintain a relatively high prosperity for some time to come.
- Pop Mart International Group Ltd (9992 HK) shares fell 12.9% yesterday. It announced that expected interim net profit may fall by up to 35% and the group’s revenue is to increase by no less than 30% year-on-year. The board of directors believe that the factors that affected its performance are the repeated outbreak of COVID-19, impact of the outbreaks on consumer flow and spendings and an increase in expenditure due to business expansion.
- Pharmaron Beijing Co Ltd (3759 HK) shares fell 8.0% yesterday. On the morning of July 18, Kanglong Chemical Co Ltd fell more than 18.5% in less than 5 minutes after opening, leading the decline in the CRO sector. Kanglong Chemical disclosed the 2022 semi-annual performance forecast on the evening of July 17. The company is expected to achieve a net profit of 610 million yuan attributable to the parent, a year-on-year increase of 0%-8%; achieve operating income of 4.67 billion yuan, a year-on-year increase of 39%-42%. In response to the changes in performance, the company stated that the new business is still in the stage of integration and investment, and the profit margin is relatively low. Overseas operating entities and clinical research and development services have delayed the overall profit growth of the group to a certain extent. In addition, the sharp decrease in the income of wealth management products also had an adverse effect on the net profit.
Trading Dashboard Update: Add CapitaLand Integrated Commercial Trust (CICT SP) at S$2.10 and Fuyao Glass (3606 HK) at HK$38.5.
