 |
|
  |
2009-7-3 10:52:00 a.m. HKT, XFNA
DJ MARKET TALK: HSI Down 0.9%;May Consolidate Further N/T-Tanrich
|
| |
| 1042 [Dow Jones] HSI down 0.9% at 18,018.99, after Wall Street falls, trading below psychologically key 18,000 level, with intraday day low at 17,894.81, while yesterday's sharp rise in short-selling volume (+61%) implies index may consolidate further near-term, with 17,500 eyed as next support level, says Tanrich's Jackson Wong. Suggests investors buy HK property stocks on dips, as their valuation still relatively attractive (roughly 20% discount to NAV), while interest rates likely to stay low medium-term. Among HK properties, Cheung Kong (0001.HK) down 1.2% at HK$86.25, Sino Land (0083.HK) down 1.9% at HK$12.62. Volume modest at HK$12.83 billion.(SUT)
(Delayed by 1 hour)
-0-
Copyright (c) 2009 Dow Jones & Company, Inc. |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
