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2009-6-17 03:19:00 p.m. HKT, XFNA
DJ MARKET TALK: Shun Tak +12.7%; Price Hike Report Helps - ICBCI
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| 1509 [Dow Jones] Shun Tak (0242.HK) +12.7% at HK$4.78, vs flat HSI, on rebound after 15.5% decline over past 4 sessions, likely supported by The Standard's report citing company's sales director Warren Leung as saying company has put last two flats at luxury project Radcliffe in Pok Fu Lam on market at prices 8.4% higher vs last year. "This is likely to provide a boost to Shun Tak's shares after its recent falls," says ICBC International's Ernie Hon. Other Macau stocks also rise, on hopes China might relax its visa policy ahead of Macau chief executive's election scheduled on July 26. Melco (0200.HK), Galaxy (0027.HK), SJM (0880.HK) up 5.3%-11.4%. Suggests investors buying on weakness in this sector as sentiment may turn brighter in runup to Macau chief executive's election.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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