Strong defensive strength of Hong Kong railways

Kiu Fung Securities Zhang Yonglong Buying factors: Tickets and real estate proceeds, and the SAR government is the largest shareholder, including the participation of 6 new railway projects in Hong Kong, together with the development of the MTR system in major mainland cities, reflects the potential for future business development and will help enhance its future revenue.　　The railway business is defensive, the railway business rate of return of 5%, also to attract, its 09 from the real estate business earnings visibility, mainly from the Tseung Kwan O "Sunrise Kang City" project, and the Tai Wai Project and "Silver Lake Tianfeng" Two project will become the main driving force for the property business in 2010.　　Technically, in large volume with the combination of "buy" signal, 9RSI to wear the middle axis, material short-term rally can continue. Bid Price: 21.50 yuan (current 21.70 yuan) target: 23.00 yuan Stop price: 19.50 yuan