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2009-5-18 02:32:00 p.m. HKT, XFNA
DJ MARKET TALK: Small HK Developers Likely To Draw Interest-Daiwa
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| 1423 [Dow Jones] HK property stocks relatively firm, with property subindex down 0.2% vs HSI down 1.3%, shrugging off worse-than-expected HK 1Q GDP figure released Friday after market close. Overall, Daiwa thinks scenario of stabilization in property market "has more or less been built into the developers' current share prices;" developers' share prices reached fair value in near term; at current valuations, thinks MTRC (0066.HK) remains undervalued among big caps, expects increased interest in smaller property companies such as K Wah International (0173.HK), HKR International (0480.HK), Tai Cheung (0088.HK).(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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