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2009-6-5 12:00:00 p.m. HKT, XFNA
DJ MARKET TALK: Hidili +7.5%; Laggard Interest Supports - Tanrich
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| 1151 [Dow Jones] Hidili (1393.HK) +7.5% at HK$6.30, off early high of HK$6.49, outperforming vs other coal stocks, likely supported by laggard interest fueled by Citigroup raising target to HK$6.51 vs HK$2.75, says Tanrich's Jackson Wong. Tips stock could at best test HK$7.50 medium-term if HSI extends gains to about 20,000. "Commodity prices are expected to remain firm and this is likely to support interest in the coal stocks, including Hidili," says Wong. Hidili currently trading at about 13X historical P/E, vs China Coal's (1898.HK) 18X, Shenhua's (1088.HK) 20X.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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