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2009-5-20 11:45:00 a.m. HKT, XFNA
DJ MARKET TALK: Some HK Ppty Shrs Down;To Underperform More-VCCEF
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| 1136 [Dow Jones] Some HK property stocks lower, after HK jobless rate climbs to 5.3% during February-April, highest in over 3 years. Louis Tse at Value Convergence CEF tips jobless rate likely to rise further ahead. "The sector is expected to continue underperforming in the medium-term as we don't expect a pickup in economic outlook soon," says Tse. Adds, developers with more diversified portfolios, such as stronger presence in China, would be at lower risk. Among property stocks, Cheung Kong (0001.HK) down 1.5% at HK$84.35, Kerry Properties (0683.HK) down 0.7% at HK$29.25, K Wah (0173.HK) down 1.1% at HK$1.77, Sun Hung Kai Properties (0016.HK) down 0.1% at HK$83.80 and Hang Lung Properties (0101.HK) down 3.8% at HK$23.10.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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