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2009-5-29 11:37:00 a.m. HKT, XFNA
DJ MARKET TALK:China New Policy Aids HK Labor Intensive Shrs-ICEA
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| 1122 [Dow Jones] ICEA suggests investors focus on labor-intensive counters such as Yue Yuen (0551.HK), Weiqiao (2698.HK), Pacific Textiles (1382.HK) and Mainland Headwear (1100.HK), after China's State Council announced on Wednesday further supporting policies, including expanded export credit insurance, tax breaks, more financial access to help exporters; notes, government to provide US$84 billion worth of short-term export credit insurance to trading companies to help increase exports. "Smaller companies would get more financing guarantees from financial institutions, as the government promised to allocate unspecified extra funding from the central budget," says ICEA. Among these, Yue Yuen +0.1% at HK$17.44, Weiqiao +0.7% at HK$4.43.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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