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2009-6-1 03:27:00 p.m. HKT, XFNA
DJ MARKET TALK: Macau Plays Down; But UOB Tips More Upside N/T
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| 1519 [Dow Jones] Macau plays fall on profit-taking after opening of Melco Crown's City of Dreams today, with investors "selling on news," says Steven Leung at UOB KayHian. "I think the buying momentum will go on after the current consolidation in the Macau plays," says Leung. Within sector, Melco International (0200.HK) down 1.9% at HK$5.61, SJM (0880.HK) down 3.6% at HK$3.23 and Galaxy (0027.HK) down 1.6% at HK$2.39, vs HSI's 3.7% rise. These stocks up 29.9% to 48.3% in May, vs HSI's 17.1% rise during same period. Leung tips optimism toward more potential economy-boosting measures from government in run-up to Macau's new chief executive election scheduled for July 26 likely to provide more support for Macau shares near-term.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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