On 21 Jul 2008 at 11:36 am, the Hang Seng Index increased by 708 points to 22,583, with a turnover amount of HKD 30.1 bln.

Wen Tianna, General Manager of the investment banking division of Bank of Communications Co., Ltd. revealed in an interview that Cheung Kong (Holdings) Limited (0001 HK) had brilliant property sales in 1H 2008, thus its performance to be disclosed in August will be encouraging. According to market projects, real estate sales will slow down in the second half of 2008. Nevertheless, due to the fact that the supply of properties has been shrinking, Wen asserts that the sales will be better than expected.

Wen estimated that the Hang Seng Index will rebound to 23,000. He also revealed that the company's stock price has limited growth in the short term, as both individual and institutional investors will sell shares to gain profits following the disclosure of its 1H 2008 report.


Source: http://www.aastocks.com

Date: 21 Jul 2008

CN01/BG/MZ/BT/WH