China/HK Market Rebound

HK/China market is on fire this week, as 

- China rolled out monetary stimulus package on Tuesday 

- China Poliburo held special meeting to discuss the economy, noting to stop property price from falling, discussing on employment and vowing to achieve 5% growth target

- China provided support to poor elderly and college graduates who were unemployed after 2 years. Also, Shanghai is rolling out $500m RMB of consumption vouchers. 

Over the past week, HSI rose 13.1%; CSI 300 up 15.7%

My stock portfolio

My stock portfolio have benefited from the raging stock prices, up 10% in the past week.

I had bought an small stake in Trip.com this week. Had wanted to buy when prices are at $47 but sold put option instead. With rising price, the put option is unlikely to be exercised. Hence, I bought at higher prices this week. 

Prior to this week:

- Sold partial stake in CNOOC (883.HK) at $18-$19, as oil price declines. Decided to hold just a small stake for diversification / inflation hedging purpose. 

- Sold China Overseas Properties (2669.HK) , as I was uncomfortable with the rising high receivables when compared to its sales. Would have gotten more money, if I held on and sold this week. 

- Bought Glorious Sun (393.HK). It is trading at around $1 but held cash worth $0.66 per share and China bank (such as ICBC, CCB and BOC) shares worth $0.82 per share. In addition, it is also paying out good dividend and buying back its stock. Downside is that its daily trading volume is not a lot. 

- Bought back Plower Bay (1523.HK) stake sold earlier on 5 Aug.

- Bought a small stake in LVMH (MC), as its share price fell below 200-MA (weekly). The stake is small, so that there is room to buy more if share price fell further. However, its share price rose this week, benefitting from rising sentiment in China markets.