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2009-5-20 10:50:00 a.m. HKT, XFNA
DJ MARKET TALK: HK Home Appliance Stocks Jump But Looks Overdone
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| 1041 [Dow Jones] HK-listed Chinese home appliance manufacturers jump, fueled by China's move to allocate CNY2 billion to subsidize purchase of home appliances, but magnitude of jump looks overdone, as how effective such subsidies will be at spurring residents to replace home appliances difficult to quantify. Skyworth (0751.HK) +15.1% at HK$1.07, Haier (1169.HK) +15.2% at HK$1.21, TCL Multimedia (1070.HK) +12.4% at HK$2.26, Hisense Kelon (0921.HK) +7.1% at HK$1.20. All off intraday peaks now, may act as immediate caps. Gome (0493.HK) likely also beneficiary, but stock suspended from trading.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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