PRE-MARKET CHINESE STOCK NEWS: US confirmed steel and aluminium tariffs

CGN (1816 HK)
– Co. FY17 net CNY 9.5bln vs. Prev. CNY 7.3bln Y/Y. (Newswires)

China Communications Construction Co. (601800 CH)
– Co. guides initial FY18 revenue CNY 490bln. (Newswires)

Evergrande Real Estate (3333 HK)
– Co. issues positive profit alert in which it guides FY net to substantially increase Y/Y. (Newswires)

FIH Mobile (2038 HK)
– Co. said it made a record loss in 2017 of USD 525.4mln vs. Prev. profit USD 136.2mln Y/Y. (Newswires)

MTR Corp (66 HK)
– Co. FY17 underlying profit HKD 10.5bln vs. Exp. HKD 9.8bln, rev. HKD 48.4bln vs. Exp. HKD 51.0bln. (Newswires)

Wharf Holdings (4 HK)
– Co. said to invest HKD 25.5bln in equities after previously spinning off its real estate arm. (Newswires)

Wheelock & Co. (20 HK)
– Co. is to buy HNA (521 HK) property related assets valued at HKD 6.4bln. (Newswires)

Other News
– Reports stated that US President Trump actually seeks USD 100bln reduction in US trade deficit with China, and not
the initially reported USD 1bln. (Newswires)
– US President Trump confirmed steel and aluminium tariffs, while the US also said it affirms preliminary determination on some China steel fittings and will impose 13.79% duties. In response, China Mofcom said it firmly opposes US trade measures and urges US to withdraw tariffs on steel and aluminium, adds will take strong measures to safeguard own interests. (Newswires)

Lending Data
– Chinese Aggregate Financing (CNY)(Feb) 1.17tln vs. Exp. 1.07tln (Prev. 3.06tln)
– Chinese New Yuan Loans (CNY)(Feb) 839B vs. Exp. 900B (Prev. 2900B)
– Chinese Money Supply M2 (Feb) Y/Y 8.8% vs. Exp. 8.7% (Prev. 8.6%)