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2009-5-8 03:50:00 p.m. HKT, XFNA
DJ MARKET TALK: Value Partners +23.7%: MS Tips To Play Catchup
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| 1534 [Dow Jones] Value Partners (0806.HK) leaps 23.7% to HK$3.50 in elevated volume, earlier touching HK$3.65; while fund management house clear beneficiary of recent market buoyancy, jump today no doubt aided by Morgan Stanley tipping stock will rise relative to HSI over next 60 days. In "tactical idea" note, MS says VP has underperformed market, other leveraged plays like HKEx (0388.HK); after declining through 2008, early 2009, AUM started showing signs of pickup in March; believes AUM increase would have been sharper in April and May. This, coupled with cost control, could cause earnings to be stable in 2009 and if markets remain strong, then earnings could pick up in 2010. House estimates there is about 80% plus or "almost certain" probability for scenario.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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