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2009-3-23 02:48:00 p.m. HKT, XFNA
DJ MARKET TALK: Asia Cassava Up;Pft-Taking May Emerge S/T-Tanirch
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| 1442 [Dow Jones] NEW LISTING: Asia Cassava Resources (0841.HK) +24.5% at HK$1.27, off intraday high of HK$1.30 (immediate cap), but likely gains won't hold for long, as dried cassava chip exporter remains thinly traded, with only 6.9 million shares changing hands so far, less than 10% of its 75 million shares offered. "No one is paying much attention to this stock, but its current gains are likely driven by the rally in those commodity stocks," says Tanrich's Jackson Wong. Tips profit-taking to emerge short-term amid uncertain earnings outlook for dried cassava chips.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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