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2009-1-13 09:51:00 a.m. HKT, XFNA
DJ MARKET TALK: China Banks Stabilizing At Pre-Market; CMB +2.6%
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| 0943 [Dow Jones] HK-listed China banks showing signs of stabilization at pre-open; big 3 ICBC (1398.HK), China Construction Bank (0939.HK), Bank of China (3988.HK) either flat or slightly higher; smaller China Merchants Bank (3988.HK) indicated +2.6% at HK$13.20, Bank of Communications (3328.HK) flat at HK$5.36; Citic Bank (0998.HK) only one bid lower, down 0.4% at HK$2.70. Main sector worries strategic investors selling down stakes for big 3, rising NPLs for whole sector, but recent selloff likely priced in lots of negatives. 10-day moving averages short-term cap for all of them.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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