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Comtec (0712 HK, HK$4.28)
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Fong's (0641 HK, HK$4.98)
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Ming Fai (3828 HK, HK$2.29)
NewOcean (0342 HK, HK$1.54)
Leoch Int'l (0842 HK, HK$3.80)
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Wednesday
Apr082009

Xiwang Sugar (2088 HK, HK$1.26) – Sugar price losing momentum

DateWednesday, April 8, 2009 at 9:41AM

Highlights.International sugar price has been softening somewhat after a strong rebound at the year beginning. The current price (sugar No. 11 contract in Bloomberg) is US$12.23/lb, which stands below its 10-day, 20-day and 50-day SMVAG.

Our view. We think the momentum behind sugar’s price rally has moderated. Accordingly, we remove Xiwang Sugar, a beneficiary of high sugar price, from our trading call list.

 

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