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2009-5-18 11:51:00 a.m. HKT, XFNA
DJ MARKET TALK: CCB +0.2% Aided By Hopu News;KE Tips S/T Strength
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| 1141 [Dow Jones] China Construction Bank (0939.HK) off intraday low of HK$4.70, now +0.2% at HK$4.80 vs HSI down 1.4%, aided by news Hopu Investment hasn't sold shares, intends to keep holding for at least two years. While Hopu can't speak for other CCB investors including BOCI Asia, China Life (2628.HK), Temasek (TEMAH.YY), word it's keeping CCB shares for long-term investment nonetheless reassuring, as there was speculation these investors might have flipped shares for quick gains. With BofA overhang now removed, Kim Eng expects short-term strength in CCB, though likes Bank of China (3988.HK), Citic Bank (0998.HK) due to undemanding valuations, prefers BOC over Citic Bank at current levels. BOC down 1.0% at HK$2.85, Citic Bank +2.8% at HK$4.11.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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