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Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
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Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
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HK Real Estate Industry
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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores?
The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
For value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth Score
Growth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum Score
Momentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Baker Hughes (BKR)
Based in Houston, TX, Baker Hughes Company is one of the world’s largest oilfield service providers. The integrated oilfield products and digital solutions of Baker Hughes help customers efficiently and cost-effectively refine and transport hydrocarbons with low environmental concerns. Moreover, with growing demand for clean energy and the need to curb greenhouse gas emissions, countries around the world are investing in LNG terminals. This has given Baker Hughes the opportunity to expand its reach beyond oilfields in order to capitalize on contracts for manufacturing equipment that is being used in LNG facilities.
BKR is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. BKR has a Growth Style Score of B, forecasting year-over-year earnings growth of 40% for the current fiscal year.
10 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.15 to $2.24 per share. BKR boasts an average earnings surprise of 10%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, BKR should be on investors' short list.
Zacks Investment Research
Chevron Corporation’s CVX CEO Mike Wirth openly criticized the Biden administration's recent decisions related to the natural gas sector, particularly the halt on new liquefied natural gas (“LNG”) export licenses. Speaking at the GasTech conference in Houston, Wirth argued that this pause will lead to higher energy costs, disrupt supplies for U.S. allies and inadvertently increase emissions by delaying the shift from coal to natural gas.
Risks to Economic Prosperity From LNG Export Policy
Wirth contended that the Biden administration's approach undermines economic prosperity, energy security and environmental protection. He emphasized that natural gas, which often replaces more polluting coal in power generation, significantly reduces emissions. Data from McKinsey supports his claim, showing that the emissions avoided by switching from coal to gas surpass the reductions achieved through wind and solar power in the past 15 years. This highlights the critical role played by natural gas in cleaner energy generation.
Wirth also mentioned that natural gas is crucial not just for environmental reasons but also for the advancement of technologies like artificial intelligence (AI). He explained that while AI development typically takes place in innovation hubs such as Silicon Valley, the energy needed to power these advancements must come from reliable sources.
In this context, he highlighted the importance of natural gas, particularly from regions like the Permian Basin, which is known for its rich gas reserves. He argued that the benefits of natural gas are so evident that political considerations should not hinder its progress.
Industry Leaders Echo CVX’s Concerns
Other industry leaders joined Wirth in voicing their concerns at the conference. ConocoPhillips COP CEO Ryan Lance, representing the Houston-based oil and gas exploration and production company, condemned the LNG export pause as "irrational" and called for the United States to assert its leadership in the global LNG market.
Similarly, Lorenzo Simonelli, CEO of Baker Hughes BKR, an oil and gas equipment and services company also headquartered in Houston, criticized the current policy for lacking cohesion and sustainability. He emphasized on the need for a more integrated and forward-thinking approach to energy development.
Uncertainty of Ongoing Policy and Legal Challenges
In July, a federal judge lifted the moratorium on LNG export applications following legal challenges from several states, but the Department of Energy is currently appealing this decision. The ongoing policy uncertainty continues to provoke debate within the industry.
Overall, the debate over natural gas policy highlights the urgency for a balanced approach that promotes economic growth while addressing environmental concerns. Industry leaders, including CVX, emphasize the need for stable and forward-thinking policies to drive innovation and ensure energy security. As the situation changes, finding a middle ground will be essential for advancing a sustainable and competitive energy future.
Zacks Rank and Key Picks
Currently, CVX, COP and BKR each have a Zacks Rank of #3 (Hold).
Investors interested in the energy sector might look at better-ranked stocks like Core Laboratories Inc. CLB, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Core Laboratories is valued at $821.45 million. The company currently pays a dividend of 4 cents per share, or 0.23%, on an annual basis. Netherlands-based CLB is an oilfield services company, operating in more than 50 countries. The firm deals with providing reservoir management and production enhancement services to oil and gas companies.
Zacks Investment Research
Adds Harris spokesperson quote in paragraph 4
By Curtis Williams
HOUSTON, Sept 17 (Reuters) - U.S. Vice President Kamala Harris understands natural gas prices will rise if fracking is banned, industry executives said on Tuesday, explaining their confidence that the Democratic candidate will not ban the production method if she becomes president.
Fracking, a major industry in battleground state Pennsylvania, has become a big issue in the presidential campaign. Harris opposed fracking as a U.S. senator from California, but now she says she would not ban it on federal lands as president.
"I think she is changing her views," Baker Hughes oil field services Chief Executive Officer Lorenzo Simonelli said on the sidelines of the GasTech conference in Houston, when asked about Harris.
A spokesperson for Harris said she would not ban fracking, and referred to her comments in a recent debate where she said: "I was the tie-breaking vote on the Inflation Reduction Act, which opened new leases for fracking. My position is that we have got to invest in diverse sources of energy so we reduce our reliance on foreign oil."
Harris's Republican rival, former President Donald Trump, supports fracking and says he believes Harris would seek to ban it.
The head of the largest U.S. liquefied natural gas (LNG) exporter, in a separate conversation at GasTech, said Harris had to pivot to being more open to fracking, because natural gas prices would be much higher without it.
Cheniere Energy LNG.N CEO Jack Fusco, whose Sabine Pass facility in Louisiana is the largest U.S. LNG export plant, said he trusts Harris's support of fracking unless proven otherwise and wants cooler heads to prevail on the energy transition debate.
Woodside WDS.AX CEO Meg O'Neill, whose Australian energy company is buying U.S. LNG plant developer Tellurian TELL.A, voiced the same rationale.
"If you stop fracking in the U.S., it will be devastating for the economy," O’Neill said. "I suspect the statements she made earlier were made without full understanding of the benefit and potential consequences."
Harris is locked in a tight race with Trump, and both are campaigning hard in Pennsylvania, one of the nation's largest producers of natural gas.
Several executives at the conference also called on the Biden administration to make it easier for U.S. companies to export LNG. The White House in January paused new LNG permits to consider the environmental impact.
"You gotta stop this crazy LNG pause from going forward," said ConocoPhillips COP.N CEO Ryan Lance. A debate over whether one is pro or against fracking "is not the right question", he added.
(Reporting by Curtis Williams; Additional reporting by Georgina McCartney, Sabrina Valle and Gnaneshwar Rajan; Writing by Peter Henderson; Editing by David Gregorio and Sonali Paul)
(( Curtis.Williams@thomsonreuters.com ))
Keywords: GAS-CONFERENCE/FRACKING (UPDATE 2, PIX)
By Georgina McCartney and Marianna Parraga
HOUSTON, Sept 17 (Reuters) - Energy executives and U.S. government officials on Tuesday clashed at an international energy conference over efforts by President Joe Biden's administration to globally advance clean fuels and geopolitical aims.
Top energy executives took to the stage at the GasTech conference in Houston to blast the U.S., saying it lacked a clear policy for achieving its aims or supplying needed power for economic developments such as the rise of artificial intelligence.
“It would appear we do not have a cohesive, collective decision on how policy should be rolled out and also the sustainability of that policy for sustainable energy development," said Lorenzo Simonelli, CEO of Baker Hughes BKR.O.
"AI’s advance will depend not only on the design labs of Silicon Valley, but also on the gas fields of the Permian basin," Chevron CEO Michael Wirth said at the annual conference.
ConocoPhillips COP.N CEO Ryan Lance also said the U.S. has been slow to approve needed energy export projects or address needed permitting improvements.
"We absolutely need permitting reform, and we need more infrastructure," he said.
But Brad Crabtree, an assistant secretary for fossil energy and carbon management at the U.S. Department of Energy, told the audience that the administration's Infrastructure Bill has made billions of dollars available for new energy projects.
The DOE is moving to accelerate project reviews to get funding distributed for hydrogen, carbon storage and other clean energy efforts before the change of administrations in January, he said.
"I'm thrilled by the scope and pace of what we're doing" to reduce carbon emissions, said Crabtree. He added he is "very concerned" about challenges to permitting for hydrogen and carbon storage projects.
The U.S. is collaborating broadly with other nations and energy groups to achieve clean-energy goals and counter rivals, said U.S. State Department official Geoffrey Pyatt.
A second thrust of U.S. energy policy is to "make sure that Russia pays a price on the extraordinary violence that it is inflicting on citizens," pointing to efforts to build an coalition on sanctions.
Peter Clarke, an Exxon senior vice president, said developing nations should not be expected to adopt the same clean-energy strategies as advanced economies.
“There is not a one-size-fits-all for Asia," Clarke said. “We need to be careful with taking policies in developed nations, and expecting developing countries to jump to that.”
(Reporting by Georgina McCartney, Marianna Parraga, Sabrina Valle and Curtis Williams; writing by Gary McWilliams; Editing by David Gregorio)
(( @thomsonreuters.com ; +1 469-691-7668; ))
Keywords: GAS-CONFERENCE/POLICY (PIX)
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