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2009-6-4 08:32:00 a.m. HKT, XFNA
DJ MARKET TALK: Big Share Sales Suggest HK Mkt Likely At S/T Peak
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| 0821 [Dow Jones] String of share sales by big brokers, funds, while not conclusive, suggests big players' view market may be peaking, at least in short term. Most prominent, Goldman Sachs (GS) sold nearly HK$15 billion worth of ICBC (1398.HK) shares, which deserves applause given deal done after market close Monday, timing almost impeccable with sentiment buoyant (HSI nearly hit 19,000, volume topped HK$100 billion). There's also exchange filing showing UBS sold 13.85 million K Wah International (0173.HK) shares Friday at HK$2.047 each, trimming stake to 6.96% vs 7.53%, as stock nearly doubles over past month. Also, AllianceBernstein L.P. sold HK$2.83 billion worth of Sinopec (0386.HK) shares last week, lowering stake to 4.76% vs 5.02%.(RLI)
(Delayed by 1 hour)
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