Singtel - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	UOB Kay Hian	Singtel	2.83	3.58	Buy	DCF
01/02/19	Kim Eng	Singtel	2.83	3.39	Hold
01/04/19	Phillip	Singtel	2.86	3.4	Buy	Sum of parts
01/14/19	DMG & Partners	Singtel	3.05	3.22	Neutral
01/15/19	DBS Vickers	Singtel	3.05	3.59	Buy	Sum of parts
02/08/19	UOB Kay Hian	Singtel	3.05	3.58	Buy
02/12/19	DBS Vickers	Singtel	3.05	3.5	Buy	Sum of parts
02/12/19	Kim Eng	Singtel	3.05	3.39	Hold	Sum of parts
02/15/19	OCBC	Singtel	3.03	3.79	Buy
02/15/19	DMG & Partners	Singtel	3.03	3.22	Neutral	Sum of parts
02/18/19	Phillip	Singtel	2.99	3.27	Accumulate	Sum of parts
02/18/19	CIMB	Singtel	2.99	3.4	Add	Sum of parts
03/11/19	OCBC	Singtel	2.94	3.79	Buy
03/11/19	DMG & Partners	Singtel	2.94	3.09	Neutral	Sum of parts
03/11/19	Lim & Tan	Singtel	2.94	0	Hold
03/12/19	CIMB	Singtel	2.93	3.4	Add	Sum of parts
03/21/19	UOB Kay Hian	Singtel	2.99	3.58	Buy	DCF
03/22/19	DMG & Partners	Singtel	2.97	3.06	Neutral
03/26/19	CIMB	Singtel	2.97	3.3	Add	Sum of parts
04/01/19	Kim Eng	Singtel	3.02	3.39	Hold
04/09/19	DBS Vickers	Singtel	3.06	3.55	Buy	Sum of parts
05/09/19	DBS Vickers	Singtel	3.11	3.55	Buy	Sum of parts
05/16/19	DMG & Partners	Singtel	3.13	3.35	Neutral	Sum of parts
05/16/19	OCBC	Singtel	3.13	3.59	Buy
05/16/19	CIMB	Singtel	3.13	3.4	Add	Sum of parts
05/16/19	UOB Kay Hian	Singtel	3.13	3.58	Buy
05/16/19	Kim Eng	Singtel	3.13	3.37	Hold	Sum of parts
05/17/19	Phillip	Singtel	3.14	3.31	Accumulate	Sum of parts, EV/Ebitda7x FY20
06/03/19	Phillip	Singtel	3.2	3.66	Buy	EV/Ebitda7x FY20
06/06/19	DMG & Partners	Singtel	3.21	3.35	Neutral
06/06/19	DBS Vickers	Singtel	3.21	3.55	Buy
06/13/19	UOB Kay Hian	Singtel	3.32	3.58	Buy	DCF
06/13/19	Kim Eng	Singtel	3.32	3.48	Hold	Sum of parts
06/14/19	CIMB	Singtel	3.35	3.5	Add	Sum of parts
07/08/19	DBS Vickers	Singtel	3.56	3.6	Hold	Sum of parts
07/15/19	Phillip	Singtel	3.54	3.66	Accumulate	Sum of parts
07/23/19	DMG & Partners	Singtel	3.52	3.4	Neutral	Sum of parts
08/07/19	DBS Vickers	Singtel	3.52	3.4	Hold	Sum of parts
08/08/19	Kim Eng	Singtel	3.29	3.44	Hold	Sum of parts
08/13/19	Phillip	Singtel	3.26	3.45	Accumulate	Sum of parts
08/13/19	DMG & Partners	Singtel	3.26	3.4	Neutral	Sum of parts
08/13/19	CIMB	Singtel	3.26	3.6	Add	Sum of parts
08/13/19	UOB Kay Hian	Singtel	3.26	3.32	Hold	DCF, Buy @ $3
08/13/19	DBS Vickers	Singtel	3.26	3.25	Hold	EV/Ebitda6.3x
08/14/19	OCBC	Singtel	3.18	3.61	Buy

Singapore Post - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/04/19	UOB Kay Hian	Singapore Post	0.965	1.04	Hold	Sum of parts
02/04/19	CIMB	Singapore Post	0.965	1.03	Hold	DCF
02/04/19	DBS Vickers	Singapore Post	0.965	0.92	Hold	DCF
02/04/19	Lim & Tan	Singapore Post	0.965	0	Hold
02/04/19	OCBC	Singapore Post	0.965	1.23	Buy
02/08/19	OCBC	Singapore Post	0.955	1	Hold
02/08/19	CLSA	Singapore Post	0.955	1.17	Buy
04/04/19	OCBC	Singapore Post	0.995	1	Hold
04/08/19	CIMB	Singapore Post	1.03	1.2	Add	DCF, PER18.2x FY21
05/08/19	OCBC	Singapore Post	1.01	1	Hold
05/08/19	CIMB	Singapore Post	1.01	1.17	Add	DCF
05/08/19	DBS Vickers	Singapore Post	1.01	0.96	Hold	DCF
05/09/19	UOB Kay Hian	Singapore Post	0.99	1.06	Hold	Buy @ $0.95
07/02/19	UOB Kay Hian	Singapore Post	0.965	1.04	Hold	Sum of parts, Buy @ $0.88
08/05/19	UOB Kay Hian	Singapore Post	0.965	1.04	Hold	Sum of parts
08/05/19	DBS Vickers	Singapore Post	0.965	0.96	Hold
08/05/19	Lim & Tan	Singapore Post	0.965	0	Hold
08/07/19	OCBC	Singapore Post	0.945	1	Hold

Stock calls for 18 September 2019

Date	Analyst	Company	Last	Target	Call	Valuation
09/18/19	CIMB	Keppel DC Reit	1.93	1.82	Hold	DDM
09/18/19	DBS Vickers	Mapletree Logistics	1.58	1.85	Buy
09/18/19	DMG & Partners	Sembcorp Industries	2.22	2.68	Buy	Sum of parts, PER9.9x FY20
09/18/19	UOB Kay Hian	ST Engineering	3.9	4.34	Buy

China slaughtered shortsellers including George Soros in HK stock market.

https://www.scmp.com/business/companies/article/3027729/investors-shorting-hang-seng-index-might-have-lost-much-hk124

China won again!  George Soros had not learnt his lesson from the AFC.  China used state agencies to prop up the HK stock market through the HK stock-connect route.  Many foreign investors didn't understand that the HK stock-connect route was set up as an economic and political system.  However, they've learnt this lesson now.

Singapore Nodx fell 8.9% in August 2019.

https://www.businesstimes.com.sg/government-economy/singapores-non-oil-domestic-exports-down-89-in-august

Year on year changes (YOY):

August 2019: - 8.9%

July 2019: -11.2%

June 2019: -17.3%

May 2019: -15.9%

April 2019: -10%

March 2019: -11.7%

February 2019: 4.9%

January 2019: -10.1%

December 2018: -8.5%

November 2018: -2.6%

October 2018: 8.3%

September 2018: 8.3%

August 2018: 5%

July 2018: 11.8% (Corrected)

June 2018: 1.1%

May 2018: 15.5%

April 2018: 11.8%

March 2018: -2.7%

February 2018: -5.9%

January 2018: 13%

December 2017: 3.1%

November 2017: 9.1%

October 2017: 20.9%

September 2017: -1.1%

August 2017: 16.7%

July 2017: 8.5%

June 2017: 8.2%
May 2017: -1.2%
Apr 2017: -0.7%
Mar 2017: 16.5%
Feb 2017: 21.1%
Jan 2017: 8.6%

http://sg-stock.blogspot.com/2019/08/singapore-nodx-fell-112-in-july-2019.html

Singapore O&G - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/23/19	phillip	Singapore O&G	0.34	0.42	Buy
02/21/19	phillip	Singapore O&G	0.355	0	Cease Coverage

Singapore Medical - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	DMG & Partners	Singapore Medical	0.4	0.56	Buy
02/21/19	UOB Kay Hian	Singapore Medical	0.47	0.65	Buy	PER23x FY19
02/21/19	DMG & Partners	Singapore Medical	0.47	0.54	Buy	DCF
05/10/19	UOB Kay Hian	Singapore Medical	0.445	0.62	Buy	PER23x FY19
05/10/19	DMG & Partners	Singapore Medical	0.445	0.48	Neutral	DCF
06/06/19	DMG & Partners	Singapore Medical	0.385	0.48	Neutral	DCF
06/07/19	DMG & Partners	Singapore Medical	0.38	0.48	Buy	DCF
08/08/19	DMG & Partners	Singapore Medical	0.37	0.48	Buy	DCF

Silverlake - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	DMG & Partners	Silverlake	0.415	0.65	Buy	DCF
01/03/19	DBS Vickers	Silverlake	0.405	0.6	Buy	PER21x FY19
01/07/19	DBS Vickers	Silverlake	0.425	0.62	Buy	PER21x FY19
02/01/19	DMG & Partners	Silverlake	0.485	0.65	Buy	DCF
02/15/19	DBS Vickers	Silverlake	0.515	0.62	Buy	PER21x FY19
03/01/19	CIMB	Silverlake	0.57	0.62	Add	Sum of parts, PER19x CY20
03/13/19	DMG & Partners	Silverlake	0.555	0.65	Buy	DCF
05/07/19	DMG & Partners	Silverlake	0.61	0.65	Buy	DCF
05/16/19	DBS Vickers	Silverlake	0.52	0.63	Buy	PER21x FY19
05/16/19	CIMB	Silverlake	0.52	0.58	Add
06/06/19	DMG & Partners	Silverlake	0.53	0.65	Buy	DCF
08/01/19	DMG & Partners	Silverlake	0.52	0.65	Buy	DCF
08/26/19	CIMB	Silverlake	0.51	0.53	Hold
08/26/19	DBS Vickers	Silverlake	0.51	0.6	Buy	PER21x FY20
09/05/19	DMG & Partners	Silverlake	0.455	0.56	Buy	DCF

Stock calls for 17 September 2019

Date	Analyst	Company	Last	Target	Call	Valuation
09/17/19	OCBC	Keppel DC Reit	1.8	2.08	Buy	DDM
09/17/19	Amfrasers	Keppel DC Reit	1.8	1.95	Outperform
09/17/19	OCBC	Mapletree Industrial	2.33	2.29	Hold
09/17/19	DMG & Partners	Unusual	0.28	0.42	Buy	DCF

SIIC - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/21/19	DBS Vickers	SIIC	0.29	0.32	Hold	PER13x FY19
08/13/19	DBS Vickers	SIIC	0.235	0.265	Hold

SIA Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/07/19	UOB Kay Hian	SIA Engineering	2.39	2.7	Buy	DCF
02/11/19	Kim Eng	SIA Engineering	2.52	2.85	Buy	DCF
02/11/19	OCBC	SIA Engineering	2.52	2.47	Hold
02/11/19	phillip	SIA Engineering	2.52	2.66	Neutral	DCF
02/11/19	UOB Kay Hian	SIA Engineering	2.52	2.55	Hold
02/12/19	CIMB	SIA Engineering	2.39	3.11	Add	DCF
02/12/19	DBS Vickers	SIA Engineering	2.39	2.7	Hold	DCF & PER16x FY20 & Div Yield 4.5% & EV/Ebitda11x
04/15/19	Kim Eng	SIA Engineering	2.49	2.85	Buy
05/14/19	Kim Eng	SIA Engineering	2.43	2.85	Buy	DCF
05/14/19	OCBC	SIA Engineering	2.43	2.43	Hold
05/14/19	UOB Kay Hian	SIA Engineering	2.43	2.55	Hold	Buy @ $2.30
05/14/19	DBS Vickers	SIA Engineering	2.43	2.6	Hold	Sum of parts
05/14/19	CIMB	SIA Engineering	2.43	3.11	Add
07/02/19	Kim Eng	SIA Engineering	2.51	2.85	Buy
07/05/19	DBS Vickers	SIA Engineering	2.72	3.01	Buy
07/08/19	CIMB	SIA Engineering	2.89	3.11	Add	DCF
07/29/19	UOB Kay Hian	SIA Engineering	2.65	2.55	Hold	DCF, Buy @ $2.40
07/29/19	OCBC	SIA Engineering	2.65	2.43	Hold
07/30/19	Kim Eng	SIA Engineering	2.68	2.85	Hold
09/02/19	Kim Eng	SIA Engineering	2.43	2.85	Buy	DCF

SIA - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/17/19	UOB Kay Hian	SIA	9.76	10.2	Hold	Sum of parts, Buy @ $9
01/24/19	Kim Eng	SIA	9.5	11.2	Buy	PB0.94x
01/24/19	CIMB	SIA	9.5	10.25	Hold	PB0.9x CY19
02/15/19	CIMB	SIA	9.87	10.25	Hold	PB0.9x CY19
02/15/19	DBS Vickers	SIA	9.87	11	Buy	PB0.9x FY20
02/15/19	Lim & Tan	SIA	9.87	0	Hold
02/18/19	Kim Eng	SIA	9.76	11.2	Buy	PB0.94x
02/18/19	UOB Kay Hian	SIA	9.76	10.2	Hold	Buy @ $9.50
02/18/19	OCBC	SIA	9.76	10.71	Buy
03/19/19	CIMB	SIA	9.83	10.25	Hold
03/19/19	UOB Kay Hian	SIA	9.83	10.1	Hold	Buy @ $9
04/16/19	UOB Kay Hian	SIA	9.88	10.1	Hold	Sum of parts
04/16/19	OCBC	SIA	9.88	11.02	Buy
05/17/19	CIMB	SIA	9.4	10.14	Hold	PB0.9x CY19
05/21/19	OCBC	SIA	9.3	11.02	Buy
05/21/19	UOB Kay Hian	SIA	9.3	9.6	Hold	Buy @ $8.80
05/21/19	DBS Vickers	SIA	9.3	10.8	Buy	PB0.95x FY20
06/19/19	UOB Kay Hian	SIA	9.17	9.5	Hold	Sum of parts, Buy @ $8.60
06/19/19	CIMB	SIA	9.17	10.04	Hold
08/01/19	UOB Kay Hian	SIA	9.67	9.5	Hold	Sum of parts, Buy @ $9.10
08/01/19	DBS Vickers	SIA	9.67	10.8	Buy	PB0.95x FY20
08/01/19	Lim & Tan	SIA	9.67	0	Hold
08/02/19	CIMB	SIA	9.2	10.04	Hold	PB0.9x CY19

Stock calls for 16 September 2019

Date	Analyst	Company	Last	Target	Call	Valuation
09/16/19	Kim Eng	AEM	1.19	1.5	Buy	Roe-g/Coe-g
09/16/19	UOB Kay Hian	Fu Yu	0.23	0.285	Buy	EV/Ebitda

My observations of the HK protests. - Part 2

We had envisaged this to happen (anti-govt protestors VS pro-govt protestors) in our post yesterday.  This just happened today.

http://sg-stock.blogspot.com/2019/09/my-observations-of-hk-protests.html

The Hong Kong protestors know nothing about the property market.

The PPI shows that HK property market surged in the past 10 years and the HK protestors put the blame on the HK government.  Let's seek out the truth so that you will understand that this is a worldwide phenomenon trend.

What happened roughly 10 years ago?  Do you still remember the Lehman Brothers' (LB) collapse in September 2008?  The US government commenced QE1, QE2 and QE3 after LB's collapse to revive its own economy, and kept its interest rates artificially low for a long time with the ensuing outcome of churning massive money supplies in the world.  The consequences of the US monetary easing policies inflated the worldwide stock and property markets.  Therefore, the main culprit is the US government.

Where's the proof?  SG is also faced with the same property situation.

SG property market also surged after 2008 (from below 100 to above 150) but our government implemented property measures a few years later to rein in the property prices.

However, the HK CEs didn't dare to change the HK housing policy because of Tung Chee Hwa's downfall.

http://sg-stock.blogspot.com/2019/09/hk-carrie-lam-is-following-footstep-of.html

My observations of the HK protests.

From this video, we can tell that the organizers are facing some cash flow problems as they're keeping a tight rein of their funds.

The pro-china protestors have started to come out this weekend because the ordinary residents are fed up with these black protestors who disrupt their daily lives.

These black protestors have incurred the wrath of the general public and are also not getting paid on time.

I think the black protestors will dwindle in size in the future because they're not getting paid and they will also face the pro-China protestors which will make their protests more difficult and dangerous.  The black protestors know that the police will be restraint in hitting them but the pro-china protestors won't.

We've stated that these black protestors would be at the receiving end in the end.

http://sg-stock.blogspot.com/2019/08/the-hong-kong-protestors-have-lost.html

Anyway, I wish HK the best and peace and order will return soon.

Hong Kong protests continue again.

https://sg.finance.yahoo.com/news/1-hong-kong-protesters-plan-025959474.html

The HK protests continue after the withdrawal of the extradition bill and revision in the housing policy.

We had stated before that the protests would continue even if the government relented.

http://sg-stock.blogspot.com/2019/09/the-hong-kong-protestors-are-daft.html

The HK protestors will continue to protest no matter what the outcome is.  Why? No protest, No money!

The HK protestors are being paid to protest and they have to protest to get the money.  However, some of them are whining about not getting paid. Just look at the leaked video (he forgot to turn it off) of a HK protestor ranting about not getting paid.

Indonesian haze is back in Singapore now!

https://sg.news.yahoo.com/region-chokes-haze-indonesian-media-002218914.html

I can smell it in my home now!

Damn, I cannot do my favourite outdoor activities now.

Stay healthy, guys!

Hahaha! LSE condemns HKEX takeover offer.

https://finance.yahoo.com/news/london-stock-exchange-strongly-rejects-093000403.html

LSE not only rejects HKEX's offer but also condemns the offer.

We've said before in our previous post that HK had everything to lose.

http://sg-stock.blogspot.com/2019/08/the-hongkongers-have-everything-to-lose.html

LSE has lost faith and confidence in HK's future which results in the rejection and condemnation.

Hong Kong protestors fabricated fake news to defame HK police. - Part 2

The truth is slowly unfolding about the woman who claimed that her eye was shot by HK police.

We posted a video previously showing no HK police were in the vicinity that could have shot her eye and the beanbag round had a short effective range.

http://sg-stock.blogspot.com/2019/08/hong-kong-protestors-fabricated-fake.html

She didn't lodge a police report and also didn't file a lawsuit against the police.  In the video, it was stated that she was offered HK$30m to pin the blame on the police but was later reduced to HK$5m to lie down as the police were getting closer to the truth with their investigations.  The police had applied to the court to retrieve her medical record from the hospital for further investigation because she rejected the police's request.

These were not innocent and ordinary protestors because they had a devious plan to smear the police and topple the government.  I've also seen online news about the protestors accusing the police of raping female protestors in the police stations and the police had killed a few protestors in the MRT stations.

TLTRO III will start on 19 September.

https://www.ecb.europa.eu/press/pr/date/2019/html/ecb.pr190912~19ac2682ff.en.html

TLTRO III will last 3 years and end in 2022.  The interest spread has been removed and this will lower the interest rate.

If you don't know anything about TLTRO, please read our previous post below.

http://sg-stock.blogspot.com/2019/03/what-is-targeted-longer-term.html

SHS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/29/19	phillip	SHS	0.197	0.24	Accumulate	PER10x FY19
03/08/19	phillip	SHS	0.191	0.194	Neutral	PB0.7x
05/21/19	phillip	SHS	0.174	0	Cease coverage

Sheng Siong - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/19	DMG & Partners	Sheng Siong	1.06	1.27	Buy
01/04/19	phillip	Sheng Siong	1.07	1.13	Accumulate
02/20/19	UOB Kay Hian	Sheng Siong	1.08	1.15	Hold
02/27/19	DMG & Partners	Sheng Siong	1.09	1.25	Buy	DCF
02/27/19	OCBC	Sheng Siong	1.09	1.19	Buy
02/27/19	DBS Vickers	Sheng Siong	1.09	1.25	Buy	PER25x FY19
02/27/19	CIMB	Sheng Siong	1.09	1.22	Add	PER22.2x FY20
02/27/19	UOB Kay Hian	Sheng Siong	1.09	1.11	Hold
03/04/19	phillip	Sheng Siong	1.09	1.3	Accumulate	PER25x
03/05/19	Amfrasers	Sheng Siong	1.09	1.24	Buy
03/13/19	DMG & Partners	Sheng Siong	1.08	1.25	Buy	DCF
03/19/19	Kim Eng	Sheng Siong	1.08	0.95	Sell	DCF, PER19.5x FY19
04/05/19	DMG & Partners	Sheng Siong	1.04	1.25	Buy
04/16/19	Kim Eng	Sheng Siong	1.06	0.95	Sell	DCF
04/29/19	UOB Kay Hian	Sheng Siong	1.04	1.11	Hold	Buy @ $1
04/29/19	DBS Vickers	Sheng Siong	1.04	1.25	Buy	PER5x FY19
04/30/19	DMG & Partners	Sheng Siong	1.04	1.23	Buy	DCF & PER21x
04/30/19	CIMB	Sheng Siong	1.04	1.1	Hold	PER20.5x CY20
04/30/19	Amfrasers	Sheng Siong	1.04	1.24	Buy	DCF
04/30/19	OCBC	Sheng Siong	1.04	1.19	Buy
05/02/19	phillip	Sheng Siong	1.03	1.3	Buy	PER25x
06/06/19	DMG & Partners	Sheng Siong	1.1	1.23	Buy
06/06/19	DBS Vickers	Sheng Siong	1.1	1.25	Buy
06/14/19	Kim Eng	Sheng Siong	1.09	0.95	Sell	DCF
07/02/19	DMG & Partners	Sheng Siong	1.1	1.23	Buy
07/15/19	phillip	Sheng Siong	1.1	1.3	Buy	PER25x
07/16/19	Kim Eng	Sheng Siong	1.09	0.95	Sell	DCF
07/30/19	DMG & Partners	Sheng Siong	1.11	1.32	Buy	DCF
07/30/19	DBS Vickers	Sheng Siong	1.11	1.32	Buy	PER25x FY20
07/31/19	Kim Eng	Sheng Siong	1.15	0.96	Sell	DCF
07/31/19	OCBC	Sheng Siong	1.15	1.19	Buy
07/31/19	CIMB	Sheng Siong	1.15	1.25	Add
08/01/19	phillip	Sheng Siong	1.16	1.3	Accumulate	PER25x FY19
08/06/19	Amfrasers	Sheng Siong	1.16	1.27	Outperform
08/13/19	Kim Eng	Sheng Siong	1.18	0.96	Sell	DCF
08/23/19	DMG & Partners	Sheng Siong	1.16	1.32	Buy
09/11/19	DMG & Partners	Sheng Siong	1.2	1.32	Buy

Shangri-La Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/21/19	OCBC	Shangri-La Asia	11.04	16.4	Buy
03/22/19	OCBC	Shangri-La Asia	11.18	16.16	Buy
08/26/19	OCBC	Shangri-La Asia	8.3	13.9	Buy

Stock calls for 13 September 2019

Date	Analyst	Company	Last	Target	Call	Valuation
09/13/19	Kim Eng	Japfa	0.485	0.73	Buy	Sum of parts
09/13/19	UOB Kay Hian	Mapletree Industrial	2.3	2.58	Buy	DDM
09/13/19	DBS Vickers	Wilmar	3.86	4.25	Buy	Sum of parts, PER16.3x FY20

HK Carrie Lam is following the footstep of Tung Chee Hwa.

https://www.channelnewsasia.com/news/asia/hong-kong-carrie-lam-housing-livelihoods-protest-11902048

The HK's housing problem was caused by the British administration and Tung Chee Hwa was trying to resolve it during his term by releasing more land sales and building more public houses.  However, he was forced to step down because his housing policies would bring down property prices and rentals.

https://sg-stock.blogspot.com/2019/08/the-hongkongers-have-everything-to-lose.html

Will Carrie Lam face the same backlash as Tung Chee Hwa?  Let's see.

China has not given up on HK yet.

https://www.yahoo.com/news/exclusive-china-prods-state-firms-033635822.html

China has not given up on HK yet.  HK is, after all, China's child and the motherland will still take care of its own child no matter what wrong the child has done.

Was the Shenzhen's developments just a verbal warning to HK for the protests?  We'll have to wait and see then.

https://sg-stock.blogspot.com/2019/08/omg-china-has-displaced-hong-kong-with.html

Prior to the pronouncement of the SZ developments, we had indicated that China would bail out HK if needed.  As predicted earlier, China has called up its SoEs to help HK now.

http://sg-stock.blogspot.com/2019/08/hong-kong-economy-will-be-heavily.html