by winston » Thu Apr 12, 2012 2:39 pm
DJ MARKET TALK: Muddy Water Loses Old Magic In Hong Kong
1416 [Dow Jones] Muddy Waters seems to be losing its old magic as its latest assault on small non-state-owned China firms doesn't cause too much of a stir in the Hong Kong market.
Instead, many recently oversold small caps are rebounding; examples of those rallying more than 5.0% include GOME (0493.HK), Xinyi Glass (0868.HK), China Hongqiao (1378.HK).
"Overall, the quality of non-state-owned mainland companies listed here in Hong Kong is better than those listed in the U.S. and Singapore," says Steven Leung, director of institutional sales at UOB KayHian.
He adds that with the reporting season now over, the worst of the sector selloff appears to be over.
Source: Dow Jones Newswire
It's all about "how much you made when you were right" & "how little you lost when you were wrong"