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2009-5-6 10:04:00 a.m. HKT, XFNA
DJ MARKET TALK: Daiwa Positive On China Pharmaceutical Sector
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| 0954 [Dow Jones] Daiwa remains positive on China pharmaceutical sector despite signs of slowdown in 2H08 due to weak economic environment, uncertainties created by proposed medical reforms. "Nevertheless, we have observed that the larger companies have continued to perform well, with visibly stronger sales growth and better operating margins than smaller companies," says Daiwa. Adds, larger companies with differentiated qualities, strong competitive edges likely to benefit from ongoing industry consolidation, emerge as winners over longer term. Within sector, Shineway (2877.HK) flat at HK$4.94 pre-market, China Pharmaceutical (1093.HK) down 1.3% at HK$3.88.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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