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2009-1-8 10:29:00 a.m. HKT, XFNA
DJ MARKET TALK: BOC Down 7.5%; Li's Good Mkt Timing Bad News -DBS
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| 1015 [Dow Jones] Bank of China (3988.HK) down 7.5% at HK$1.98, level at which Li Ka Shing Foundation sold 2 billion shares; stock most heavily traded so far with HK$325.4 million. Given Li has good reputation on market timing, DBS Vickers says news probably even more negative to Chinese banking sector than recent shares sales by UBS, Bank of America in BOC, China Construction Bank (0939.HK) respectively; keeps Cautious view on sector. HK$1.98, HK$3.92 (BofA's placement price) in near term critical support for BOC, CCB respectively. CCB down 2.7% at HK$3.95. ICBC (1398.HK) suffers collateral damage, off 3.8% at HK$3.81; lockup period for ICBC investors will expire in April.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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