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| | MARKET TALK: China Shares Remain Up;To Consolidate Around 3400 | | 2009/07/27 12:12 |
| | 1202 [Dow Jones] China shares remain higher midday in active trade, as Sichuan Expressway's (601107.SH) stellar debut sparks broad buying-interest in overall market; Shanghai Composite Index +1.2% at 3411.61, just below 13-month high 3412.60 hit earlier, expected to consolidate around psychologically important 3400 in afternoon. "Most stocks in the A-share market are too expensive, but flush capital and the government's accommodative monetary policy will likely continue to drive the stock market up in the short term," says Guoyuan Securities' Simon Wang. Shanghai Stock Exchange halts Sichuan Expressway from trading at 0325 GMT as bourse regards stock performance as abnormal, says trading will resume 0525 GMT. Sichuan Expressway last at CNY9.89 vs CNY3.60 IPO price; analysts peg reasonable price at CNY4.6-CNY4.8. Shenzhen Index +1.3% at 1119.45.(RWY) |
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| | MARKET TALK: China Ppty Plays Dn; Tightening Measures Eyed -TF | | 2009/07/08 15:53 |
| 1538 [Dow Jones] China property stocks lower, on concerns China government may introduce tightening measures on home sales, mortgage loan applications after sharp rise in home sales for 1H09. "Some kind of government tightening on property speculation should not be ruled out lest a bubble may be emerging," says Taifook. Adds, banks in Hangzhou have already taken initiative by declining mortgage applications from non-self-use second-home buyers. Tips nationwide policies unlikely to be changed near-term, but target should be on increasing land supply to help market achieve equilibrium. China Overseas (0688.HK) down 2.6% at HK$16.82, Shimao (0813.HK) down 3.7% at HK$14.44, R&F (2777.HK) down 4.5% at HK$16.50. HSI down 0.6%. (SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
Copyright (c) 2009 Dow Jones & Company, Inc.
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| "Oh, what the heck. Haven't you held on to this long enough? Sure you have. Look at your present, and forget the past." | | |
| "Do you know when it's time to quit...? Or are you one of those people who drives themselves to the breaking point? ...take care of yourself. If you need some rest, you'll feel sleepy. If you need to relax and take a day off, you'll become overwhelmed quickly. Listen to what your body and feelings tell you, and follow your commonsense. You aren't going to be productive or much fun to be around if you don't balance your lifestyle." | | |
| "1551 [Dow Jones] H-share index down 1.5% at 8,012.12 on modest profit-taking after 9.5% surge yesterday, but more upside likely after consolidation. China one of Credit Suisse' preferred plays to ride on Asian markets' expected rally in 2009 (other sector is banks); likes China "because of valuations and policy flexibility." Notes both H-, A-shares trading at one-fifth of last year's highs, China has room to move on both monetary, fiscal policy fronts given large current account surplus, FX reserves, fiscal surplus, slowing inflation. Four of CS' top-10 Asian stocks for 2009 China plays, including China Construction Bank (0939.HK), China Mobile (0941.HK), China Shenhua (1088.HK), ICBC (1398.HK).(RLI) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com"
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