HONG KONG DAYBOOK: Fake Invoicing; China Life, Cosco Earni

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(BFW) HONG KONG DAYBOOK: Fake Invoicing; China Life, Cosco Earni
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HONG KONG DAYBOOK: Fake Invoicing; China Life, Cosco Earnings
2014-10-27 22:30:00.0 GMT


By Bloomberg News
    Oct. 28 (Bloomberg) -- The gap between China’s reported
exports to H.K. and city’s imports from the mainland widened in
Sept. to most this yr, suggesting fake export-invoicing is again
inflating China’s trade data.
    China recorded $1.56 of exports to Hong Kong last month for
every $1 in imports H.K. registered, leading to a $13.5b
difference, based on govt data compiled by Bloomberg. H.K.’s
imports from China climbed 5.5% y/y to $24.1b, figures showed
yesterday; China’s exports to H.K. surged 34% to $37.6b,
according to mainland data on Oct. 13.


WHAT TO WATCH:
 * China Life (2628 HK), Cosco Pacific (1199 HK), Ping An
   Insurance (2318 HK) among cos. to publish earnings today
 * China gold imports rise to 5-mo. high before holiday sales
 * CNR, CSR to make “major” announcement within a wk
 * BofAML sees H.K.-Shanghai stock link starting by yr-end
 * Shanshui Cement to sell 20% stake to CNBM for HK$1.56b
 * SGX Bets on China derivatives demand as link buoys futures
 * Hong Kong Sept. exports rise 4.5% y/y; est. +6%


EARNINGS:
 * Air China (753 HK)
 * BBMG (2009 HK)
 * China Life Insurance (2628 HK)
 * China Longyuan Power (916 HK)
 * China Telecom (728 HK)
 * Chongqing Steel (1053 HK)
 * CNR (6199 HK)
 * Cosco Pacific (1199 HK)
 * Dongjiang Environmental (895 HK)
 * First Tractor (38 HK)
 * Guangzhou Auto (2238 HK)
 * Guangzhou Shipyard (317 HK)
 * Haitong Securities (6837 HK)
 * Huadian Power (1071 HK)
 * Jiangxi Copper (358 HK)
 * Maanshan Steel (323 HK)
 * Ping An Insurance (2318 HK)
 * Shanghai Fosun Pharma (2196 HK)
 * Vinda (3331 HK)


BONDS:
 * BOC (3988 HK): Picks 9 banks for Basel 3 tier 2, meetings
   start Oct. 31
 * Vanke (2202 HK): Said to plan CNY1.8b sale of interbank
   bonds


CONFERENCES/CORPORATE EVENTS:
 * StanChart interim management statement media call, 2:40 p.m.


ANALYST RATINGS:
 * CSCL (2866 HK): Raised to neutral at CCB Intl; pt HK$1.90


EQUITY PREVIEW:
 * Banks: End-Sept. domestic assets rise 13.6% y/y
 * Developers: HK govt to sell Kwai Chung site by public
   tender; HK Sept. mortgage loans drawn down rise 23.5% m/m
 * Insurers: CIRC may set solvency requirement at 100% for
   groups
 * Logistics: Hapag-Lloyd mulls investment in China’s logistics
   industry: SCMP
 * Phones: China to regulate mobile apps: Beijing News
 * Refiners: Global pressure to shut refining capacity: IEA
 * Anton Oilfield (3337 HK): 2014 net may drop >80% y/y
 * Belle (1880 HK): 1H net 2.08b yuan vs 1.93b yuan
 * Biostime (1112 HK): 9-mo. avg. Mama100 active members fall
   0.5% vs 1H
 * China Moly (3993 HK): 9-mo. net rises 62% to 1.47b yuan
 * China Ocean Shipbuilding (651 HK): Unit to develop LNG
   carriers with Jianglian Heavy
 * CIMC (2039 HK): 3Q net rises 38% y/y to 586.6m yuan
 * Forefront (885 HK): To buy stake in Freeman (279 HK) unit
   for HK$247.5m
 * Hop Hing (47 HK): Quick-service restaurant 3Q same-store
   sales drop 1.7% y/y
 * I.T (999 HK): Says protests may drag on HK retail mkt
   recovery
 * Pacific Andes (1174 HK): In talks for possible fundraising
 * Shanshui Cement (691 HK): To sell 20% stake to CNBM (3323
   HK) for HK$1.56b
 * Sinopharm (1099 HK): 9-mo. net 2.15b yuan vs 1.72b yuan
 * WH Group (288 HK): Unaware of cause of shr-price slump
 * Yitai Coal (3948 HK): 9-mo. net falls 37% y/y to 1.92b yuan


BTV HIGHLIGHTS (ALL TIMES HONG KONG/CHINA):
 * 11:10 CS Private Banking, WM CIO for AP Fan Cheuk Wan


For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>

--With assistance from Gregory Turk in Shanghai.

To contact Bloomberg News staff for this story:
Liza Lin in Shanghai at +86-21-6104-3047 or
lli...@bloomberg.net
To contact the editors responsible for this story:
John Liu at +86-10-6649-7565 or
jli...@bloomberg.net
Joshua Fellman

---

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