My Journey in HKSFA-HKEX Portfolio Management Competition 2017

To low the risk by diversifying more to Commodity and real estate stocks.  Look forward to the rebound of auto-mobiles and real estates stocks News 花旗發表研究報告，指近期內地工業品出廠價格指數（PPI）增長放緩，反映商品價格暫時回軟，但消費者物價指數（CPI）則加快上升，追回早前PPI複蘇勢頭。該行認為，PPI增長放緩是健康信號，並不表示商品步入下跌週期。從經濟見底回升的角度看，該行相信5只非國企塬材料股，分別是玖龍紙業（02689） 、理文造紙（02314）、建滔化工（00148） 、中國聯塑（02128） 、建滔積層板（01888），毛利將擴張，上半年產品平均價按年或按半年都有上漲，今年可能交出曆來最高的中期業績。其中理文造紙目標價看9.5元。 Core-Holdings “One-belt One-Road” related stocks, such as 1157, 3339, 1618  China Consumer related stocks, such as 175 & 2333. China Financial related stocks, such as 3988 Bank of China.   Technology Stocks, such as 0700 Tencent, 1478, 0522 Trading Strategy: Overweight : 3333, 323, 2343, 316  東方海外  1888  建滔積層板,   0921  海信科龍 Underweight : 700, 2382, 2689, 175 Current Allocation: “One-belt One-Road” 15% 2338 濰柴動力 3339 中國龍工 1157 中聯重科 Automobile 15% 2333 長城汽車 (back to 7.5%)  0175 吉利汽車 Paper 15% 2269 玖龍紙業 2314 理文造紙 Real Estate 15% 3333 中國恒大 2007 碧桂園 Fina

Core-Holdings “One-belt One-Road” related stocks, such as 1766 CRRC.   China Consumer related stocks, such as 2333 Great-Wall motor. China Financial related stocks, such as 3988 Bank of China.   Technology Stocks, such as 0700 Tencent, 2018, 0522 Trading Strategy: Overweight : 1313, 2018  Underweight : 175,  2333  Current Allocation: “One-belt One-Road” 15% 2338 濰柴動力 3339 中國龍工 1157 中聯重科 Automobile 15% 2333 長城汽車 (back to 7.5%)  0175 吉利汽車 Paper 15% 2269 玖龍紙業 2314 理文造紙 Real Estate 15% 3333 中國恒大 2007 碧桂園 Financial  0939 建設銀行 (5%) Technology 10% 0700 Tencent (5%)  2018 瑞聲科技  Shipping 2343 太平洋航運 (5%) 0323 馬鞍山鋼鐵股份 (5%) 1313 華潤水泥控股 (5%)  Consumer 0027 銀河娛樂 7.5% 1929 周大福

To rebalance inter-sector 175, 2333 and 3333 and 2007 Lesson learned : the China stock market is not efficient.  Have faith in yourself. Core-Holdings “One-belt One-Road” related stocks, such as 1766 CRRC.   China Consumer related stocks, such as 2333 Great-Wall motor. China Financial related stocks, such as 3988 Bank of China.   Technology Stocks, such as 0700 Tencent, 2018, 0522 Trading Strategy: Overweight : 1313, 2018  Underweight : 175,  2333  Current Allocation: “One-belt One-Road” 15% 2338 濰柴動力 3339 中國龍工 1157 中聯重科 Automobile 15% 2333 長城汽車 (back to 7.5%)  0175 吉利汽車 Paper 15% 2269 玖龍紙業 2314 理文造紙 Real Estate 15% 3333 中國恒大 2007 碧桂園 Financial  0939 建設銀行 (5%) Technology 10% 0700 Tencent (5%)  2018 瑞聲科技  Shipping 2343 太平洋航運 (5%) 0323 馬鞍山鋼鐵股份 (5%) 1313 華潤水泥控股 (5%)  Consumer 0027 銀河娛樂 7.5% 1929 周大福

It has been a good week with return of 5%.  An industry research of Mobile industry in China payoff.  Knowing Great Wall mobile company (2333) having a good start of its newly establish Wey product line with sales of 23,000+ in May.  Best of all, this sales figure was reported separately with other sales figures.  As a result, the Great Wall mobile company looks like having a bad month. in May  When the sales figures of vv7 in May 2017 was released, it is a surprise to the market.  The stock was up 21.4% ! Lesson learned : the China stock market is not efficient.  Have faith in yourself. Core-Holdings “One-belt One-Road” related stocks, such as 1766 CRRC.   China Consumer related stocks, such as 2333 Great-Wall motor. China Financial related stocks, such as 3988 Bank of China.   Technology Stocks, such as 0700 Tencent, 2018, 0522 Trading Strategy: Overweight : 3339, 1157, 2018  Underweight : 175,  0700, 2333  Current Allocation: “One-belt One-Road” 15% 2338 濰柴動力 3339

Having been invested with Interactive Brokers system, it is time to use the portfolio rebalancer to better control the asset allocation. Core-Holdings “One-belt One-Road” related stocks, such as 1766 CRRC.   China Consumer related stocks, such as 2333 Great-Wall motor. China Financial related stocks, such as 3988 Bank of China.   Technology Stocks, such as 0700 Tencent, 2018, 0522 Current Allocation: “One-belt One-Road” 10% 2338 濰柴動力 3339 中國龍工 Automobile 15% 2333 長城汽車 0175 吉利汽車 Paper 15% 2269 玖龍紙業 2314 理文造紙 Real Estate 15% 3333 中國恒大 2007 碧桂園 Financial  0939 建設銀行 (5%) Technology 10% 0700 Tencent (5%)  Shipping 2343 太平洋航運 (5%) 0323 馬鞍山鋼鐵股份 (5%) Consumer 0027 銀河娛樂 7.5% 1929 周大福