CAR Inc (0699) Decline -2.27% on Nov 15

November 15, 2017 - By Ellis Scott

Shares of CAR Inc (HKG:0699) last traded at 6.9, representing a move of -2.27%, or -0.16 per share, on volume of 1.96M shares. After opening the trading day at 7.05, shares of CAR Inc traded in a close range. CAR Inc currently has a total float of 2.17B shares and on average sees 2.96M shares exchange hands each day. The stock now has a 52-week low of 6.63 and high of 8.2.

What’s Behind Hong Kong’s Good Corporate Governance?

CG Watch, a biannual newsletter, has recently ranked Hong Kong as the second economy in Asia with the best corporate governance next to Singapore. CAR Inc company and its colleagues quickly became the part of Hong Kong trading life. Previously, Hong Kong has placed first. This feat is very telling of how compelling the environment for trade and commerce is in Hong Kong; and the Stock Exchange of Hong Kong (SEHK) plays an important role in driving national economic growth.

Equity Market in Hong Kong

Established in 1891, the SEHK is the primary stock exchange in the world. In Asia, it is the third largest stock exchange while in the world, it is currently placed sixth.

Meanwhile, the Hang Seng Index (HSI), which was first published on November 24, 1969, is the benchmark index measuring the 50 most actively traded companies on the SEHK. Presently, it is operated by the Hang Seng Bank (HSB) Hang Seng Indexes Company. As a free-float market-capitalization-weighted index, it represents about 60% of the total market valuation on the SEHK. CAR Inc are among those who use the advantages of being inside the index list.

The HSI had reached its all-time low of 58.61 on August 31, 1967. Shortly before the beginning of the 2008 Global Financial Crisis, it had reached its all-time high of 31,638.22 on October 30, 2007 as investors resorted to safe-haven assets in Asia. During that session, the HSI had reached an intraday high of 31,958.41.

The HSI had first reached the 10,000 mark on December 10,1993; the 20,000 mark on December 28, 2006; and the 30,000 level on October 18, 2007. When the 2008 Global Financial Crisis had broken out, it lost nearly 70% of its peak, closing at 10,676.28 on October 27, 2008.

Having been able to recover, the HSI had once again reached the 20,000 mark on July 24, 2009, closing at 20,063.93. On August 19, 2014, it had reached the 25,000 mark; on April 8, 2015, the 26,000 mark.

Trading in Hong Kong

For a company to be eligible for inclusion in the HSI, it must meet a set of criteria.

First, it must of course be listed on the SEHK for at least 24 months prior to a particular rebalancing period. However, a company can already be eligible for inclusion even if it has only been listed on the SEHK for at least three months provided that it has a compelling overall market performance and valuation.

A company must also belong to the top 90% of the total market capitalization on the SEHK; and to the top 90% total turnover on the SEHK.

The HSI is rebalanced quarterly using the base value of 100— the base date being July 31, 1964.

The regular trading session on the SEHK lasts from 9:30 a.m. until 4:00 p.m. There is also a pre-market trading session that lasts from 9:00 a.m. until 9:30 p.m. Investors must harry up to see what is going on with CAR Inc stocks.

Entering the Hong Kong equity market is ideal for investors nowadays. It is the best way to bank on the promising future of not just Hong Kong’s thriving economy but most especially that of Asia.

More recent CAR Inc (HKG:0699) news were published by: Reuters.com which released: “Short-seller Chanos adds to Tesla bet, predicts CEO will leave” on November 14, 2017. Also Cleveland.com published the news titled: “Two more suspects charged in Cleveland car dealership killings” on November 13, 2017. Investorplace.com‘s news article titled: “Cloud Computing & Self-Driving Cars Will Power Alphabet Inc Stock Higher” with publication date: November 13, 2017 was also an interesting one.

CAR Inc. is a Hong Kong-based investment holding firm principally engaged in car rental businesses. The company has market cap of $14.99 billion. The Company’s main businesses include the provision of long-term and short-term car rental services, finance lease and the sales of used rental vehicles, among others. It has a 17.88 P/E ratio. It mainly operates businesses in Mainland China.

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