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    688   HK0688002218

CHINA OVERSEAS LAND & INVESTMENT LTD.

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China shares gain as slower-than-expected inflation raises monetary easing bets

01/12/2022 | 12:11am EDT

* SSEC +0.35%, CSI300 +0.36%; Hang Seng +2.12%

* China producer price growth slower than expected in December

* Hang Seng up on tech boost, property drags

SHANGHAI, Jan 12 (Reuters) - Chinese shares rose on Wednesday, supported by materials, consumer and new energy firms after slower-than-expected December producer inflation made room for more monetary easing in the world's second-largest economy.

** At the midday break, the Shanghai Composite index was up 0.35% at 3,579.93.

** China's blue-chip CSI300 index was up 0.36%, with the new energy sub-index up 2.26%.

** Resource firms were 2.06% higher and the consumer staples sector was up 0.49%.

** China's producer prices rose slower than expected in December after government measures to contain high raw material prices, while consumer prices slowed as food prices fell.

** Analysts expect moderating factory-gate inflation to offer more room for loosening monetary policy, as authorities seek to stabilise growth.

** Hong Kong-listed Chinese H-shares rose 2.2% to 8,552.76, while the Hang Seng Index gained 2.12% to 24,241.15.

** The Hang Seng Tech index was 3.86% higher at midday as tech firms led a rebound in equities after U.S. Federal Reserve Chairman Jerome Powell gave less hawkish than expected comments in a testimony to Congress.

** JD.Com Inc, up 9.89%, was the top gainer among H-shares, followed by Meituan, gaining 9.33% and CNOOC Ltd, up 7.93%.

** Mainland developers capped broader gains in Hong Kong and were the top H-shares decliners.

** Sunac China Holdings Ltd fell 4.6%, China Overseas Land & Investment Ltd lost 2.63% and Country Garden Holdings Co Ltd slipped 2.04%.

** The mainland properties index fell 1.99%.

** The smaller Shenzhen index was up 0.7%, the start-up board ChiNext Composite index was up 1.36% and Shanghai's tech-focused STAR50 index was up 0.61%.

** Around the region, MSCI's Asia ex-Japan stock index rose 1.16%, while Japan's Nikkei index gained 1.93%.

** The yuan was quoted at 6.3651 per U.S. dollar, 0.13% firmer than the previous close of 6.3733.

(Reporting by Andrew Galbraith; Editing by Rashmi Aich)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CHINESE YUAN RENMINBI (AUD/CNY) 0.39% 4.72748 Delayed Quote.2.66%
BRITISH POUND / CHINESE YUAN RENMINBI (GBP/CNY) 0.36% 8.373453 Delayed Quote.-2.11%
CANADIAN DOLLAR / CHINESE YUAN RENMINBI (CAD/CNY) -0.12% 5.2343 Delayed Quote.4.63%
CHINA OVERSEAS LAND & INVESTMENT LTD. -0.83% 23.85 Delayed Quote.30.28%
COUNTRY GARDEN HOLDINGS CO. LTD. 1.65% 4.94 Delayed Quote.-29.77%
EURO / CHINESE YUAN RENMINBI (EUR/CNY) 0.43% 7.1033 Delayed Quote.-1.62%
HANG SENG -2.54% 20120.68 Delayed Quote.-11.77%
INDIAN RUPEE / CHINESE YUAN RENMINBI (INR/CNY) -0.15% 0.086673 Delayed Quote.1.92%
MEITUAN INC. -3.78% 165.5 Delayed Quote.-23.69%
NIKKEI 225 -1.89% 26402.84 Real-time Quote.-6.53%
ON SEMICONDUCTOR CORPORATION 0.43% 56.07 Delayed Quote.-17.80%
S&P/CITIC 300 INDEX 0.28% 3648.3 Real-time Quote.-18.99%
S&P/CITIC 50 INDEX -0.28% 3480.84 Real-time Quote.-16.81%
SHENZHEN STOCK EXCHANGE A SHARE INDEX 0.58% 2042.95 Real-time Quote.-23.28%
SUNAC CHINA HOLDINGS LIMITED -5.18% 4.58 Delayed Quote.-61.12%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.78% 6.7239 Delayed Quote.5.96%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) -0.62% 6.7124 Delayed Quote.6.01%
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Financials
Sales 2022 318 B 40 552 M 40 552 M
Net income 2022 47 793 M 6 091 M 6 091 M
Net Debt 2022 147 B 18 784 M 18 784 M
P/E ratio 2022 5,45x
Yield 2022 5,47%
Capitalization 261 B 33 266 M 33 266 M
EV / Sales 2022 1,28x
EV / Sales 2023 1,17x
Nbr of Employees 5 692
Free-Float 33,9%
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China Overseas Land & Investment Ltd. Technical Analysis Chart | 688 | HK0688002218 | MarketScreener
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Mean consensus BUY
Number of Analysts 27
Last Close Price 23,85 HKD
Average target price 30,28 HKD
Spread / Average Target 27,0%
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Managers and Directors
Zhi Chao Zhang Chief Executive Officer & Executive Director
Sai Kit Lui Chief Financial Officer
Jian Guo Yan Chairman
Liang Luo Executive Director, Chief Architect & VP
Lai Tai Fan Hsu Independent Non-Executive Director