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2009-6-18 11:24:00 a.m. HKT, XFNA
DJ MARKET TALK: Water Oasis +2.8%; Valuation Undemanding - ICEA
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| 1109 [Dow Jones] Water Oasis (1161.HK) +2.8% at HK$2.24, continuing post-results outperformance, but volume tapers off to HK$2.5 million vs HK$21.8 million all of yesterday, suggesting lack of follow-through buy orders; stock unlikely to trouble post-results peak of HK$2.40, at least not in short term. ICEA says although Water Oasis faces global financial downturn, it managed to expand business, improve profitability, with China market key driver, revenue from China operations in 1H recorded marked growth of 35.5%. House doesn't formally rate stock, but says valuation undemanding vs peer Sa Sa (0178.HK); given strong financial position, tips FY09 final dividend will not be less than that of FY08, suggesting yield of nearly 10%.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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