MARKET COMMENT: HSI Down 0.3% Midday; Financial Sector Weighs
February 21 2013 - 11:02PM
Dow Jones News
0431 GMT [Dow Jones] Hong Kong's Hang Seng Index is down 0.3% at
22,845 at the midday break, weighed by financial services shares.
Blue-chip HSBC (0005.HK) is down 0.5% at HK$84.70. Still, Barclays
bank keeps a Neutral sector rating on banking sector in Hong Kong.
It expects abundant liquidity conditions exacerbated by loose
monetary conditions and weaker loan demand will result in modest
5.0% underlying earning growth in the banking sector for the fiscal
year 2013. It notes BOC Hong Kong (2388.HK) is its top pick among
local peers as it is most geared to any potential offshore yuan
developments and is best capitalized. (chester.yung@wsj.com)
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