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2009-5-5 08:53:00 a.m. HKT, XFNA
DJ MARKET TALK: RBS Tips China Ppty Plays To Lead Econ Recovery
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| 0827 [Dow Jones] HK-listed mainland developer stocks may succumb to some profit-taking soon, though any pullback likely viewed as chance to buy given strong market momentum. RBS advises investors hold high-beta names including Sino-Ocean Land (3377.HK), Guangzhou R&F (2777.HK), Shimao Property (0813.HK), Agile Property (3383.HK), as they should outperform blue chips China Overseas (0388.HK), China Resources Land (1109.HK) during market recovery. Adds, despite cheap valuation, highly leveraged names such as Greentown China (3900.HK), Hopson Development (0754.HK) have poor asset churn, making them lag peers. Overall, "property sector should lead recovery in the underlying economy," RBS says. China Overseas leapt 9.4% to close at HK$14.96 yesterday, R&F soared 12.6% to HK$14.28.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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