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2009-6-26 12:50:00 p.m. HKT, XFNA
DJ MARKET TALK:HK Bks Likely Targets For China Bks' Expansion-DBS
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| 1241 [Dow Jones] DBS Vickers says it doesn't rule out possibility ICBC (1398.HK) may buy Wing Hang Bank (0302.HK), given WHB management has stated it's open to any M&A option. Says chatter should continue to boost sentiment toward WHB, other small HK banks; adds, in medium term, "we should see stronger presence of Chinese banks in the Hong Kong banking industry in light of ever-increasing economic integration between Hong Kong and China;" says as HK one of most important cities of China, is good platform for Chinese banks to conduct overseas business. WHB +9.0% at HK$73.00 midday; Dah Sing Banking (2356.HK) +4.6% at HK$7.77, Chong Hing Bank (1111.HK) +3.0% at HK$13.70, Bank of East Asia (0023.HK) +1.7% at HK$24.25.(RLI) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(Delayed by 1 hour)
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