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2009-6-24 04:17:00 p.m. HKT, XFNA
DJ MARKET TALK: Take Profits On Xinyu, Intime, NWDS China - Daiwa
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| 1604 [Dow Jones] Daiwa keeps Neutral on China retail sector, and recommends investors take profit on Xinyu (3389.HK), Intime (1833.HK) and NWDS China (0825.HK) after their recent gains. House expects same-store-sales figures for June to weaken on-year basis from those for May, due to absence of various one-off factors. Adds, house has observed heavy price competition during recent visits to various sportswear stores in Beijing, highlights retailers' concerns about sustainability of current recovery in demand. Xinyu ends +1.7% at HK$2.92, Intime down 2.8% at HK$3.18 and NWDS China down 1.4% at HK$5.52. HSI +2.0%. (SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
(Delayed by 1 hour)
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