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2009-4-7 11:14:00 a.m. HKT, XFNA
DJ MARKET TALK: HK Medical Stocks Surge; China's Health Care Plan
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| 1057 [Dow Jones] Mad punting in HK-listed medical services, medicine stocks, with four of top 5 HK percentage gainers in this category, led by China Renji's (0648.HK) 42.1% jump to 5.4 HK cents. Sector getting boost from news China issues details of healthcare sector overhaul, aiming to make basic healthcare services available to all citizens by 2020. Given volume spike, with Renji's volume HK$28.3 million vs HK$1.7 million yesterday, more short-term upside for these shares likely, but may be difficult to quantify exact earnings impact of overhaul. Vital Pharmaceutical (1164.HK) +21.4% at 12.5 HK cents, Hua Han (0587.HK) +21.2% at 80 HK cents, Hua Xia Health (8143.HK) +20.5% at 4.7 HK cents, Wuyi Pharmaceutical (1889.HK) +20.0% at 72 HK cents. Another point worth noting, almost all of these penny stocks, with some trading at absurdly high P/E or no P/E at all (money-losing), thus while near-term gains may be tempting, high risks needs to be taken into account too.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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