HK 第27部分; Party like it's 1999!
Some updated thoughts on the party in Hong Kong / Chinese stocks >> from Buy everything, to Buy selectively?
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Party like it’s 1999!
These 👇 were the top gainers in my Hong Kong watchlist this morning (2024/10/02). Several stock brokers and property managers were on an absolute tear lately.
Just very recently, retail broker Bright Smart Securities’ shares were trading well below HKD 2, for a close to 20% dividend yield. That was even after it had already announced paying out the entire FY2023 HKD 0.33 EPS. Nobody really seemed interested. Neither did I, by the way. I just had so many absurd-cheap Hong Kong stocks to choose from. So, I felt I could afford to be selective. I wrote about the situation on 2024/07/12. Ooo, how do times change… Today the stock was up 20% to HKD 2.89. Investors who bought the stock before the 2024/08/21 ex-dividend, can already be looking at a cool 100% investment return. Personally, I have no idea how long the HK/China stock market party will last… and with it, the likely upcoming surge in profitability for the stock brokers. So I will continue to leave these stocks for someone else.
The property managers’ stocks have been rising dramatically as well. On 2024/05/22, wrote about one of them - First Service $2107.hk - in HK 第15部分; The Experts. By the way that (FREE) post contains many interesting Hong Kong stocks, several of which are still very attractive. In that same post, wrote about Tianjin Development $882.hk, a stock which now seems to be breaking out to multi-year highs, and is still absurd-cheap imo.
