[I-bank focus]Up to RMB500bn funds coming to HK - HSBC

    HSBC Global Research estimated that there could be as much as RMB500bn in funds flows to HK from Chinese mutual funds. The funds are likely to use three major investment channels: QDII quota RMB120bn; Shanghai-HK (SH-HK) Stock Connect quota RMB230bn and the upcoming Shenzhen-HK (SZ-HK) Stock Connect quota of RMB150bn.
  In late March, China's securities regulator said it would loosen restrictions on mainland institutions investing in HK through Stock Connect. Since then, the total turnover of the HK market also surged to HK$250bn last week, compared with average daily turnover of HK$69bn in 2014.
  HSBC has sorted out 40 stocks that have underperformed the recent rally as follows:

  Lagging 20 large-cap stocks with HSBC "buy" rating, with target prices
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  (01398)    ICBC                HK$8.70
  (00939)    CCB                 HK$10.00 
  (BABA US)  Alibaba Group       US$136.00
  (02318)    Ping An Insurance   HK$134.00
  (BIDU US)  BAIDU.COM           US$250
  (02601)    CPIC                HK$52.00
  (01972)    Swire Properties    HK$28.70
  (NTES US)  Netease Inc.        US$135.00
  (00151)    Want Want           HK$11.30
  (02319)    China Mengniu       HK$48.00
  (06823)    HKT Trust           HK$13.00
  (06808)    Sun Art Retail      HK$10.50
  (00338)    SNP Shanghai        HK$4.30
  (00494)    Li & Fung           HK$13.10
  (00960)    Longfor Properties  HK$14.20
  (CTRP US)  Ctrip.com           US$75.00
  (02282)    MGM China           HK$18.20
  (02688)    Enn Energy          HK$60.00
  (03311)    China State         HK$14.90
  (00551)    ASM Pacific         HK$93.00


  Lagging 20 mid and small-cap stocks with HSBC "buy" rating, with target prices
  -------------------------------------------------------------------------------
  (00142)   First Pacific     HK$9.60
  (00958)   Huaneng Renew     HK$3.80
  (00579)   Beijing Jingneng  HK$5.30
  (03369)   Qinhuangdao Port  HK$5.70
  (01083)   Towngas China     HK$10.90
  (01813)   KWG               HK$7.80
  (DANG US) Dangdang          US$14.00
  (SINA US) Sina              US$49.00
  (SOHU US) Sohu.com Inc.     US$78.00
  (01836)   Stella            HK$24.30
  (06139)   Jinmao            HK$6.20
  (03668)   Chinalco Mining   HK$1.78
  (WB US)   Weibo Corp        US$24.00
  (03818)   China Dongxiang   HK$1.90
  (01270)   Langham SS        HK$4.50
  (01219)   Tenwow            HK$3.60
  (01368)   Xtep Int'l        HK$3.80
  (02343)   Pacific Basin     HK$4.19
  (CYOU US) Changyou          US$37.00
  (00825)   New World Dept    HK$3.70