Monday 13 October 2008

DJ MARKET TALK: HSI +10.1%; Rebounding From Oversold Level - DBS

0746 GMT [Dow Jones] HSI +10.1% at 16,288.77, on rebound as market was heavily oversold, says Peter Lai at DBS. "We are just trying to find a reason to buy stock," he says. Notes HSI's current level looks very attractive for long-term investors. Tips index to remain in 14000-19000 range near-term. Amid crude price weakening, Sinopec (0386.HK) +17.5% at HK$5.65, Cathay Pacific (0293.HK) +7.1% at HK$10.60. Volume modest at HK$55.85 billion. (SUT)

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