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2009-3-10 04:08:00 p.m. HKT, XFNA
DJ MARKET TALK: Impetus Short-Lived For China Power Equip Shrs-TF
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| 1557 [Dow Jones] Taifook says speculation Beijing would unveil another round of stimulus packages during NPC helps boost share prices of China's three power-equipment producers, namely Shanghai Electric (2727.HK), Dongfang (1072.HK) and Harbin Power (1133.HK). But adds, "we believe the impetus is only short-lived," as question of whether China can maintain GDP growth of 8% for the year is of particular interest for power-equipment manufacturers, as growth level largely correlated with demand for power equipment in emerging markets. Adds, Harbin Power most vulnerable, with potential delivery delays from domestic and overseas customers and failure to benefit from Beijing's wind energy initiatives present more significant downside pressure on its earnings. Harbin Power +2.9% at HK$4.55, Shanghai Electric +2.0% at HK$2.05 and Dongfang +0.1% at HK$14.30.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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