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2009-5-7 11:25:00 a.m. HKT, XFNA
DJ MARKET TALK: Hot HK Punting Themes Cool Off;Pft-Taking Sets In
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| 1108 [Dow Jones] Heavy dose of profit-taking emerging for three recently hotly punted sectors in HK, namely Fujian stocks, Macau plays, alternative energy stocks. Fujian Holdings (0181.HK) now down 9.9% at 73 HK cents, Galaxy Entertainment (0027.HK) down 8.9% at HK$2.14, Singyes Solar (0750.HK) off 8.8% at HK$2.48. Hard to determine if this only temporary pullback or marks end of sector punting; but even if it's former, further correction likely in light of huge gains of late. Fujian Holdings, for example, has racked up 118% gains over past 4 sessions. Also implies profit-taking may set in for blue chips; HSI still +1.3% at 17,047.87, but off intraday peak, also year-to-date high, of 17,327.52.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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