STOCKWATCH: Li & Fung to test HK$12 in short term

Li & Fung (0494) churned down recently. With short-term technical indicators growing weak, it continued to go down this morning with turnover remaining tranquil, indicating that no sufficient support exists in the bottom. It is expected to test the lower-level support. Short-term investors should not bet on bottom rebound. Next supporting stance expected to be around HK$12.

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