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2009-5-6 04:11:00 p.m. HKT, XFNA
DJ MARKET TALK: HK Tourism Shares Up; Taifook Prefers Great Eagle
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| 1549 [Dow Jones] HK tourism related stocks higher, as swine flu appears under control with no signs of spreading since one confirmed case in HK announced May 1; general optimism over economic recovery also lending support, with recent stock market surges. Taifook says HK government's recent confirmation of agreement in principle with Walt Disney to expand Disney theme park on Lantau also good news for tourist industry in longer-term. HK & Shanghai Hotels (0045.HK) +4.0% at HK$6.70, China Travel (0308.HK) +2.5% at HK$1.63, Wing On Travel (1189.HK) +7.1% at 3 HK cents. House prefers hotel stocks trading at steep discount to NAVs, such as Great Eagle (0041.HK), even allowing for drop in valuation after financial tsunami. Great Eagle +0.7% at HK$11.44.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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