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2009-3-30 04:08:00 p.m. HKT, XFNA
DJ MARKET TALK: HSI Down 4.9%; 13,144 As N/T Support
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| 1557 [Dow Jones] HSI down 4.9% at 13,421.66, on long-awaited profit-taking after 24.5% jump vs March 9 trough of 11,344; with sentiment turning sour following uncertain outlook on General Motors, Chrysler. Among HSI constituents, utilities like CLP (0002.HK), HK & China Gas, HK Electric (0006.HK) stay in green lights; laggards like Yue Yuen (0551.HK), Tencent (0700.HK) remain in positive territory, as duo +15.6%, 21.3%, respectively vs their March 9 levels. Based on March 27 high of 14,257 and March 9 trough of 11,344, 38.2% Fibonacci retracement provides near-term support for HSI at around 13,144, if current consolidation marks farewell to its recent uptrend. Volume modest at HK$47.45 billion.(SUT) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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