Home THE DAILY EDGE Business China Sunsine +6.1%; Demand sustainable: Analyst
China Sunsine +6.1%; Demand sustainable: Analyst

Tags: China Sunsine Chemical

Written by The Edge   
Wednesday, 29 September 2010 16:23
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China Sunsine Chemical (CH8.SG) +6.1% at $0.26 on above-average volume, with broad market advance helping shares retrace part of losses over last two sessions, says Dow Jones.

Newsflow on rubber chemicals maker traditionally thin, with stock tending to move in line with most other small-cap S-chips.

Fundamental outlook, however, remains promising, backed by China's automobile industry, says Phillip Securities analyst Lee Kok Joo.

"In the last nine years, the vehicle population in China has grown almost four-fold. The existing and growing vehicle population presents a sustainable demand for rubber chemical products."

Resistance expected at current September high of $0.28.

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Last Updated on Wednesday, 29 September 2010 16:26