Salomon downgrades Hang Seng to lagging market, target price at HK$98

Report from Salomon Smith Barney downgraded Hang Seng Bank(0011) from "medium" to "lagging market". The target price was downgraded at HK$98 from previous HK$106. Its analysis report indicated short-term outlook was faint and the capital adequacy fell below 12% last year.

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