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2009-1-8 10:02:00 a.m. HKT, XFNA
DJ MARKET TALK: Lenovo Down 19.4% Pre-Open;Broad Pft Implications
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| 0947 [Dow Jones] Lenovo (0992.HK) bid down 19.4% at HK$2.08 on resuming trade as profit warning trumps potential benefits of layoffs, restructuring; immediate support may have to come from psychological HK$2.00. Lenovo offers broader implication for earnings as investors may have been too optimistic, too early in anticipating earnings recovery, particularly for some of recently punted sharply higher industrial stocks. Among those, Johnson Electric (0179.HK) bid down 2.2% at HK$1.80, Techtronic (0669.HK) off 3.9% at HK$2.19.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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