Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.

$VITASOY INT'L (00345.HK)$The morning session saw a strong rise in the stock, which surged over 30% at one point yesterday and ultimately closed up over 19%. As of the time of writing, it is up 5.84%, at 12.32 Hong Kong dollars, with a trading volume exceeding 95 million Hong Kong dollars. Since October, vitasoy int'l has accumulated an increase of about 120%.

On the news front, Sino Land's Chairman Huang Zhixiang's younger brother Huang Zhida disclosed that on November 21, he bought 4.1 million shares of Vitasoy at an average price of HK$10.3169 per share, involving 42.29 million Hong Kong dollars. Huang Zhida's equity interest increased from 11.87% to 12.26%. It is reported that since October, he has continuously increased his shareholding in Vitasoy through his controlled Yeo Hiap Seng (a Singapore-listed beverage company) and family office. At the beginning of that month, his shareholding was less than 5%.

Lion Rock released research reports stating that the rise in Vitasoy's profit margin is the main driver of future mid-term profit growth. The report mentioned that by the end of September, Vitasoy's sales for the first half of the fiscal year increased by 2% year-on-year based on reported figures, with mainland China sales roughly flat and Hong Kong sales increasing by 3% year-on-year. Benefiting from favorable decreases in raw material prices and strict control over sales and distribution costs, its operating margin increased by 2.4 percentage points year-on-year. The company aims to achieve positive sales growth in the second half of this fiscal year, especially in mainland China, and continue to expand its profit margin.

Editor / jayden