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2009-5-29 12:46:00 p.m. HKT, XFNA
DJ MARKET TALK: HK Shippers, Macau Shrs Up On Rotational Play-DBS
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| 1234 [Dow Jones] HK-listed shipping, Macau shares and some second-tier property plays higher, on rotational interest, but musical-chairs game signals latest rally may have come to an end, says Peter Lai at DBS. "These stocks are relatively undervalued, but their sharp gains suggest some funds are hungry to buy amid latest improvement in overall market sentiment," says Lai. But adds, this indicates time ripe to take profits, as hype for primary property plays waning on profit-taking, marking more selloff pressure near-term. Among sectory plays, Pacific Basin (2343.HK) +12.3% at HK$5.40, SJM (0880.HK) +6.5% at HK$3.29, Kerry (0683.HK) +3.0% at HK$32.60.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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