 |
|
  |
2009-5-20 11:50:00 a.m. HKT, XFNA
DJ MARKET TALK: Lee & Man Off 0.2% But Off Low; Worst LIkely Over
|
| |
| 1139 [Dow Jones] Lee & Man Paper (2314.HK) still down 2.0% at HK$8.94, but has rebounded significantly from intraday low of HK$8.35, which unlikely revisited, as investors apparently holding view worse is over despite company tipping "significant decline" in FY09 net profit vs HK$1.44 billion year-earlier. Such view perhaps justified, with company itself predicting leveling off soon, saying current market environment, sale prices "have gradually stabilized." Still, recovery scenario likely well factored in given stock's breathtaking rally vs 52-week low of HK$1.57 hit Oct. 28, 2008. HK$9.15 hit yesterday marks year-to-date high, may act as strong cap. Peer Nine Dragons Paper (2689.HK) reverses losses (day's low HK$5.43), now +2.7% at HK$5.71.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=oifAZwvSN%2BITZvWnO%2B3GJQ%3D%3D. You can use this link on the day this article is published and the following day.
(Delayed by 1 hour)
-0-
Copyright (c) 2009 Dow Jones & Company, Inc. |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
