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    300059   CNE100000MD4

EAST MONEY INFORMATION CO.,LTD.

(300059)
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China stocks rise on financials boost, set for weekly gains

06/25/2021 | 12:56am EDT

* SSEC 0.8%, CSI300 1.3%, HSI 1.1%

* HK->Shanghai Connect daily quota used 8.1%, Shanghai->HK daily quota used 4.3%

* FTSE China A50 +1.4%

SHANGHAI, June 25 (Reuters) - China stocks climbed on Friday, and are on track to snap a three-week losing streak, underpinned by gains in heavyweight financial firms.

** The CSI300 index rose 1.3% to 5,221.49 points at the end of the morning session, while the Shanghai Composite Index gained 0.83% at 594.79 points.

** Financial firms led gains on Friday, with the CSI300 financials index up 1.7%.

** The CSI SWS securities index rose 3.5% by the midday break, as Guangdong Golden Dragon Development Inc , BOC International China and East Money Information Co Ltd advanced between 7.5% and 10%.

** The golden era for Chinese residents to boost equities assets has arrived, leading to a long-term upbeat cycle for securities firms, SWS Research said in a report.

** Residents' wealth migration to equities assets are accelerating as other competitive wealth products' returns continue to decline, SWS Research added.

** For the week, the CSI300 added 2.3% and the SSEC gained 2%, with both set to snap a three-week losing streak.

** The weekly gains come as Federal Reserve Chair Jerome Powell reaffirmed that the U.S. central bank would not to raise interest rates too quickly based only on the fear of coming inflation.

** "We see declining impact from currency and commodity price moves, while near-term liquidity support by PBOC could mitigate concerns over macro weakness and rising yield expectation," Morgan Stanley analysts including Laura Wang said in a report.

** In Hong Kong, the Hang Seng index rose 1.1% to 29,210.31 points, while the Hong Kong China Enterprises Index gained 1.6% at 10,846.01. (Reporting by Luoyan Liu and Andrew Galbraith; Editing by Amy Caren Daniel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BOC INTERNATIONAL (CHINA) CO., LTD -9.51% 13.41 End-of-day quote.-51.55%
EAST MONEY INFORMATION CO.,LTD. 2.33% 33.87 End-of-day quote.31.11%
GUANGDONG GOLDEN DRAGON DEVELOPMENT INC. 1.89% 15.6 End-of-day quote.-1.33%
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Financials
Sales 2021 12 039 M 1 871 M 1 871 M
Net income 2021 7 353 M 1 143 M 1 143 M
Net cash 2021 57 673 M 8 964 M 8 964 M
P/E ratio 2021 47,3x
Yield 2021 0,18%
Capitalization 350 B 54 403 M 54 410 M
EV / Sales 2021 24,3x
EV / Sales 2022 19,7x
Nbr of Employees 4 927
Free-Float 37,5%
Chart EAST MONEY INFORMATION CO.,LTD.
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East Money Information Co.,Ltd. Technical Analysis Chart | 300059 | CNE100000MD4 | MarketScreener
Technical analysis trends EAST MONEY INFORMATION CO.,LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 21
Last Close Price 33,87 CNY
Average target price 37,26 CNY
Spread / Average Target 10,0%
EPS Revisions
Managers and Directors
Shi Qi Chairman & General Manager
Wei Lu CFO, Board Secretary, Director & Deputy GM
Yi Qing Bao Chairman-Supervisory Board
Gui Chen Independent Director
Li Jun Xia Independent Director
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