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2009-5-20 09:53:00 a.m. HKT, XFNA
DJ MARKET TALK: Most HK Blue Chips Bid Up; Yue Yuen Bucks Trend
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| 0947 [Dow Jones] HK blue chips mostly bid up at pre-open, suggesting follow-through buying momentum likely to more than offset profit-taking pressure despite HSI +6.1% over past 3 sessions. Still, gains modest with only two stocks - New World Development (0017.HK), Tencent (0700.HK) indicated to rise by more than 3%. 8 index members bid down, led by Yue Yuen's (0551.HK) 2.9% decline to HK$16.94, as company will lose blue-chip status soon. Overall, pre-market action seems to point to light profit-taking pressure, while underlying sentiment remains buoyant.(RLI) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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