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2009-5-6 12:28:00 p.m. HKT, XFNA
DJ MARKET TALK: UOB Cautious On Chasing HK Rotational Theme Punts
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| 1219 [Dow Jones] With HSI battling profit-taking pressure, trend is for liquidity to rotate to medium- to small-caps on theme punt, with Taiwan-, Fujian-related stocks, Macau plays, alternative energy stocks getting most of attention today. Still, "I'd be cautious chasing these sectors higher," says UOB KayHian's Steven Leung; adds, Fujian companies in particular shouldn't be getting too much earnings boost from policies. Fujian Holdings (0181.HK) +21.7% at 84 HK cents, has more than doubled in 4 sessions. Macau casino operators Galaxy Entertainment (0027.HK), Melco (0200.HK), alternative energy plays Solargiga (0757.HK), Singyes Solar (0750.HK), China WindPower (0182.HK) all shoot up at least 10%.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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