Hong Kong Chinese equity certificate weekly report

Report author: Qiang Li, Yang Guoping, Liu Junwei Date of writing: May 19th, 2008

The international crude oil price rose to 126 US dollars per barrel, hitting a new record high. Among oil stocks, high oil prices are most favorable to CNOOC. Investors who are optimistic about the short-term trend of CNOOC can pay attention to 7559, 3870 and 2180. These three warrants will expire in September and November 2008. The actual leverage is 4.99 times, 4.63 times and 4.74 times respectively, and the extended volatility is 41.05%, 43.63% and 43.44% respectively. The market expects that the Chinese government will reduce the fuel windfall profit tax, which will be beneficial PetroChina 。 Investors who are optimistic about the short-term trend of PetroChina can pay attention to 5863, 9557 and 6114. These three warrants will expire in October and December 2008. The actual leverage is 5.07 times, 4.50 times and 4.65 times respectively, and the extended volatility is 47.76%, 46.44% and 41.61% respectively.

For investors who are not sure about stock selection, participation in HSI warrants is a good choice. Investors who are optimistic about the short-term trend of the HSI can pay attention to 3425 and 13302. These two warrants will expire in September and November 2008. The actual leverage is 6.09 times and 6.35 times respectively, and the extended volatility is 34.28% and 32.57% respectively. Investors who are bearish on the short-term trend of the HSI can pay attention to 13269 and 13310 warrants, which will expire in October and November 2008. The actual leverage is -5.23 times and -3.62 times respectively, and the extended volatility is 32.97% and 43.32% respectively.