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2009-5-29 03:28:00 p.m. HKT, XFNA
DJ MARKET TALK: HK Banks Up; Plays Catchup With Properties -VCCEF
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| 1518 [Dow Jones] HK banks higher, playing catch-up on view residential mortgage lending likely supported by latest improvement in property transactions, says Louis Tse at Value Convergence CEF. "The banks are catching up gains with the property counters, as the improved outlook over the property sector is lending a strong support to the earnings prospect of local banks," says Tse. Within sector, BOC Hong Kong (2388.HK) +10.1% at HK$12.26, Bank of East Asia (0023.HK) +4.3% at HK$25.70, Hang Seng Bank (0011.HK) +4.6% at HK$108.60, Dah Sing Financial (0440.HK) +8.1% at HK$33.20, Wing Hang Bank (0302.HK) +5.1% at HK$68.30.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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