---
title: "13 Basis Points: A Good Hedge in Turbulent Times | Tang Niu"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280932564.md"
description: "In the context of ongoing conflicts, Hong Kong stocks fluctuated slightly, and investors faced a choice: to buy short positions for hedging or to reduce positions to cope with the market. SA SA INT'L (178) and Dongyao Pharmaceutical (1875) performed well, with the latter reaching a new high. AJISEN (CHINA) (538) announced a turnaround to profitability, with a dividend yield of 13 cents, and cash levels exceeding market value, making it a good hedging option"
datetime: "2026-03-30T00:55:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280932564.md)
  - [en](https://longbridge.com/en/news/280932564.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280932564.md)
---

# 13 Basis Points: A Good Hedge in Turbulent Times | Tang Niu

In the midst of ongoing conflict, Hong Kong stocks have recently seen small gains followed by significant pullbacks, continuing to search for a bottom. One can either buy short positions for hedging or reduce holdings and grit their teeth to weather the winter. With cash holdings and patience, there will come a day when the rain will clear.

Fortunately, this column's holdings have recently had some good performances, providing a bit of sweetness amidst the bitterness. SA SA (178) finally broke through the multiple resistance levels at HKD 0.66 last Friday, hoping to break the next resistance at HKD 0.74; the GO stock mentioned in "Star Market Strategy," Dongyao Pharmaceutical (1875), also broke through last Friday, reaching a new high after GO, gradually pushing up stop profits, another good adhesive.

## Cash Levels Exceed Market Value

Another favorite stock in this column, AJISEN (CHINA) (538), announced its earnings last Friday, successfully turning a profit of RMB 28.41 million, with the biggest surprise being not only a final dividend of HKD 0.079 but also a special dividend of HKD 0.034 to celebrate its 30th anniversary in Hong Kong. At the current price, the dividend yield reaches HKD 0.13. The latest cash level is RMB 1.7 billion, significantly higher than the market value of less than HKD 1 billion, which, in essence, is another good safe-haven asset in chaotic times.

**Tang Niu**

Related articles: In a volatile market, I only pick two types of stocks | Tang Niu

Maoji Yaocai's sell-off surged afterward, anticipating the third stock to change hands and explode, backed by a giant enterprise with room for speculation on investment｜Star Market Strategy

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