KGI DAILY MARKET MOVERS – 6 July 2021
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Market Movers
United States
US markets were closed on Monday in commemoration of Independence Day on Sunday, 4th July.
Singapore
- Singapore Myanmar Investco Limited (SMI SP) Shares continued to rally following the company’s announcement on 30 June. Its new business direction encompasses cryptocurrency, Software-as-a-Service (“SaaS”) and other high tech platforms. SMI recently signed a subscription agreement with The9 Limited, a high-tech internet company listed on NASDAQ with extensive knowledge of cryptocurrency, gaming and in other areas of digital expertise. SMI is also looking to work with other partners in the area of gaming, augmented reality, digital entertainment, electric vehicles and robotics. Shares of SMI have gained more than 600% over the past two weeks.
- OIO Holdings Limited (OIO SP) Even though it was announced that there was a disposal of shares by the company’s Director/CEO, shares surged by 52.6% yesterday. There was no other company specific news, but the rise in share price could be due to positive spillover from the rally of Singapore Myanmar Investco’s share price. OIO is developing businesses around its acquisition of Moonstake, a company providing services on top of the blockchain technology.
- Singhaiyi Group Ltd (SHG SP) SingHaiyi’s share price spiked to a high of 10.7 cents yesterday, before closing down at 9.3 Sing cents or a 26% gain. The rally triggered a query from the Singapore Exchange Regulation.
- Sunpower Group Ltd (SPWG SP) The company will be paying out a 10.06 Sing cents special dividend following the satisfaction of tranche 2 conditions for the disposal of the Manufacturing & Service (M&S) business. The ex-dividend date will be on Monday, 12 July, Record date on 13 July and payment date on 21 July.
- Tuan Sing Holdings (TSH SP) The company continued to buy back shares in the open market. The company bought back 29,000 shares on Monday, in addition to the 90,000 shares bought over the past month. The Straits Times on 24 June 2021 had put a spotlight on the company’s unappreciated and undervalued share value. Even with the 70% year-to-date appreciation of its share price, the company still trades at a 40% discount to its book value.
- Trading Dashboard: Add Golden Energy & Resources (GER SP) at S$0.32 and ISDN (ISDN SP) at S$0.73. Remove Geo Energy (GERL SP) at S$0.23 and InnoTek (INNOT SP) at S$0.945.
Hong Kong
- Shanghai Haohai Biological Technology (6826 HK) Shares closed at an all-time high. The company announced that it has achieved a net profit of RMB235mn attributable to the parent in 1H21, a YoY increase of around 699.21% to 808.19%. The company’s performance in 1H21 has exceeded the full year of 2020 and it is expected that the company’s annual performance will be solid in 2021.
- Chinasoft International Limited (354 HK) There was no company specific news today. Shares rose due to a positive outlook following the announcement of Huawei’s Harmony OS, as Chinasoft is a joint venture partner for the project. This is considered a breakthrough in Chinese OS as Huawei was blacklisted by the US in 2019.
- SSY Group Limited (2005 HK) There was no company specific news today. Investors’ positive sentiment in SSY Group supported its weekly upward momentum. Latest news on 1 July could have boosted the share price, where it was announced that Shijiazhuang Siyao Co., Ltd., a wholly-owned subsidiary, has obtained an approval from the National Medical Products Administration for injection of azithromycin and is now the marketing authorizer for this product. The product is a freeze-dried powder injection formulation, which is mainly used to treat various infections caused by sensitive pathogens. By obtaining a freeze-dried powder injection form for the first time, the group has accelerated the speed of its corporate transformation.
- Ganfeng Lithium Co., Ltd. (1772 HK) Shares surged to a one-month high as lithium industry stocks collectively rose. This was due to Wuxi Stainless Steel Electronic Trading Center officially launching the lithium carbonate (electric carbon) futures products. Analysts said that the lithium industry has a demand for a standardized pricing mechanism, which is good for the long-term development of the industry. CICC also pointed out that the supply and demand of lithium is expected to gradually become scarce in 2021-2025, and the long-term lithium price bull market is strongly supported by fundamentals.
- Huabao International Holdings Limited (336 HK) There was no company specific news. Rise in share prices could have been due to previous news that Huabao International has received approximately RMB55mn purchase orders from China Tobacco (Guangdong) Company.
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