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2009-6-1 12:11:00 p.m. HKT, XFNA
DJ MARKET TALK: HK Brokerage Shares Strong; Value Partners +8.2%
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| 1150 [Dow Jones] HK's local brokerage shares on tear today, with Taifook Securities (0665.HK), Shenyin Wanguo (0218.HK), First Shanghai (0227.HK), Value Partners (0806.HK) each up at least 6%, vs HSI +2.1%. Sector punt usually lags HKEx (0388.HK) a bit in timing; with HKEx unable to breach previous peak of HK$125.70 set May 11, likely these brokerage or asset management firms won't trouble recent peaks either. Value Partners, for example, hit HK$3.92 peak, also on May 11. For VP, assets under management picked up in March, April, halting trend of AUM decline; May figure likely to accelerate given HSI racking up 17% gain in May, best in 35 years. VP volume heavy at HK$8.9 million, vs ADT of HK$10.8 million last week.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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