1960-07-08

Pare

WEEKLY

THE CHINA MAIL FRIDAY, JULY 1960:

REPORT ON THE HONGKONG STOCK EXCHANGE

MARKET REMAINS STEADY

Banks go up

on rumours

of an issue

The market remained fairly steady throughout a short week of trading resulting in a moderate turnover.

The main feature of the week | Both China Lights and Electrics was the sudden investment in-were fractionally lower. terest in Banks which went up Cements remained steady at $1,235 and then closed at $1,230. $54. Strength in London plus rumours of a possible issue is given as the main reasons for the rise.

In Insurances both Unions and Lombards remained dull.

Allieds registered a small rise while Wheelocks remained

steady.

There was renewed buying interest in Wharves on rumours of a land sale. But it will be recalled that at the last annual meeting it was hinted that there would be no distribution of capital should any sale of land be put through.

Both the dock companies re- mained steady throughout the Wock.

In stores

Dalries and Lane, Crawfords remained fairly steady while Watsons eased off slightly.

In Utilities the two ferry com-

Textiles were up slightly on expectations of a better dividend. They paid 65 cents last year and it is anticipated that this year's dividend may be between 80 cents to a dollar. The com pany's proits are known to be good.

Market diary

Monday:

panies remained unchanged. Tuesday:

NY sugar market

New York, July 7.

World No. 4 sugar futures to-

day closed six to 20 points : higher with sales of 1,030

contracts.

The market

res-

ponded to renewed: buying with further improvements i n rates.

Gas.

Cements and

strength. Volume

London stocks up

on good

★ The share market at a glance investment demand

'HK Bank Lombard

Union

HX Lands HK Realty HK Tra Star Fury

Juhe & 18100

June 16

1200

June 23

July

Up Down

1213

1230

&Bonda $48

Yield (%)

429

$3.

$3.50

Wheelock

6.90

7.05

3.8

HK. Wharf

250

2506

HI Docks

109*

Tilkoo Docks

bay

$2.80

Provident

20.20

20.10

21.40

31.10

HK Hotels

4014

41/4

$2.75

6,8

3014

5814

steady

$2.40

14.2

1.87

L615

steady

15p

+8.1

#214

steady

$2.45

171

190

steady

181

182

181

$8.50

21.80

22.78

20c

$1.10

28.70.

28.80

28.60

$1.50

6.8

3834

steady

$1.45

steady

$4.

7.6

20.10

28.80

-30%

$1.85

20.49$

28.70

28.3ab

25.809

-60¢

$1.50

B344

$814

steady

8.205

8.66b

8.25

+500

1.499

6.154

B.08

6.15

+350

$1.

15.308

19.72

16.70

14.705

14.80

+10%

900

101

1012

10.80

11.19

+200

650

13.008

35.79

173

.steady

$1.10

Ch Light Electrics

HK Telephone

G. I. Cement

Dairy Farm

A. S. Watson

Lane, Crawford

Int'l Investment Allled "

HK FE Inv Textile Corp

Good investment demand gat

London, July 1,

stocks another HIC

today and many second rank shares gained with the leaders.

Steels, enginnerings. bank

stores, and electrials ingred the advance, while Fords and Jaguar me in a brighter inotors section

Gilt edged med, solid support and endey with gains, dated securities mainly

buyers.

Minus marks were spread through

gold mining issuÁP."

Coppers were enter and Uns lost more ground, Olls looked stronger at the start but peact- ed to end fractions lower.

Grenier cased in a quiet foreign bonds marker and delige stockor were mixed.

Hübbery suffered general setback.

ures-UFT.

HONGKONG

STOCK EXCHANGE

Busine done at the Hong- korg Stuck Exobange this mornS ing amounted to approximately STAR0,000. Nood quotations future and the morning's transactions: Teas lacked

Shares Hayor Ballers Balen HK BAK.. 1890 1995 · 1034 @ 1323 Lombard Whart Weserboat Wheelock

Wall Street advances on Closing Prices

New York, July 7,

Wheelocks displayed The stock market stepped up the past to- day with a broad-based rally after mark- ing time for nearly a week.

of business was ap proximately $3,410,000.

The share market today was

Most of the thrust was pro- Cana. Bk. of Comm.

Cana. Brewers.

again vided by such heavyweights as able to maintain steels and chemicals in the Arm undertone. last hour climaxing Buyers continued general advance. active in most sec.

some

a day of

some

The advance restored

five

tions and though se billion to market valuations. profit-taking The change of pace foliowed was apparent there was very little reat tion. Price changes were only frae- tional

Turnover was approximately $9,071,000.

The Domestic No. 6 contract Wednesday: The 'market ruled

closed two, to four points higher

with sales of 14 contracts.

World futures swung over an extraordinarily wide price range

and bullish

while

as traders turned alternately bearish "analysing the impact of the U.S.

Cuban

quola cut on market

prices.

After plunging sharply on fears that Cuba may press any surplus supplies for sale on the world market, carly sellers heal

a hurried retreat in late trading Thursday:

coincident with Havana trade reports that Cuba had boosted its minimum export selling price in the world market to 3.25 cents a pound FAS up 4 cent from the recently established

minimum of three cents pound.---UPI.

, firm half

Campbell Soup Co.

Canadian Paclic B. Cat Tractor

Celariese Corp.

CIT. Financial Corp. Chase Manhat. Bank Chrysler Mobors

Chett Peabody... Colgate-Palmolive Co.

Commercial Credit Continental Can Consolidated Ediam

sessions

generally Colombian Carsion Co. now price movements which had left the market's overall price structure in standoff since the middle of lawt, week,

a virtual Continental Oli of Del. Crane Co.

Stoels, down to what some analysts consider bargain levels,

two or

during the stood out with gains of more day

Session than three in Lukens and without any signt-Youngstown

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