MARKET TALK: HSI +1.6%;Investors May Take Quick Profits -Delta

11th Jun 2010 03:33

0233 GMT [Dow Jones] HSI +1.6% at 19,943.65, off intraday high of 19,995.64, tad below psychologically key 20,000 level, as investors stay cautious after China's May CPI came in slightly higher than expected (+3.1% on-year vs +3.0% expected by economists in Dow Jones poll), says Conita Hung at Delta Asia. "Investors tend to take quick profits when the index trades near to 20,000 level." Expects index may test 20,000 intraday, but unlikely to sustain above it at close. HSBC (0005.HK) +1.7% at HK$73.30, Esprit (0330.HK) +2.8% at HK$44.80 on easing European concerns, while Cnooc (0883.HK) +3.2% at HK$13.08 on crude price strength. Broad base rally also supports HKEx (0388.HK), with local bourse operator last +2.3% at HK$120.80. Volume heavier vs recent average at HK$9.15 billion. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 10, 2010 22:33 ET (02:33 GMT)