 |
|
  |
2009-6-19 04:20:00 p.m. HKT, XFNA
DJ MARKET TALK: China Cosco Ends Down 2.8%; 2H Outlook Faint -DBS
|
| |
| 1608 [Dow Jones] China Cosco (1919.HK) ends down 2.8% at HK$9.51, Pacific Basin (2343.HK) +1.0% at HK$5.05, China Shipping Development (1138.HK) down 0.8% at HK$10.06, vs HSI's 0.8% gain, not gaining much support from latest rise in Baltic Dry Index (+18.0% over past 6 sessions, with these stocks down 6.9%-11.2% during same period); suggests investors reckon latest rally may not sustain. "The visibility of dry bulk market outlook remains faint in 2H09, in view of the threats from newbuild delivery and the end-of restocking of ores in China upon the completion of contract negotiation in June," says DBS. House raises target of China Cosco to HK$5.09 vs HK$4.75 based on 1X P/B, keeps at Sell. (SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
-0-
Copyright (c) 2009 Dow Jones & Company, Inc. |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
