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2009-6-2 09:11:00 a.m. HKT, XFNA
DJ MARKET TALK: UOB Tips Cyclical China Plays After PMI Tops View
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| 0900 [Dow Jones] China's better-than-expected PMI data suggests economic recovery ongoing, UOB KayHian says. Tips PMI to stabilize, remain above 50 in coming months on rising new orders and production on further government stimulus measures, stabilized new export orders, higher commodities prices. Says continues to prefer cyclical stocks at this stage. Keeps Overweight on metals, oil & gas, coal, property sectors. Tips top picks include China Coal (1898.HK), China Railway (1186.HK), Maanshan Iron (0323.HK), PetroChina (0857.HK). Also tips laggards, particularly IPPs, with top IPP picks as CR Power (0836.HK), Datang Power (0991.HK). (LES) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(Delayed by 1 hour)
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