Honkong Billionaire Li Tells Investors to ‘Be Careful’ on Stock Market

Discussion in 'Wall St. News' started by ASusilovic, May 21, 2009.

  1. May 22 (Bloomberg) -- Billionaire Li Ka-shing, who warned of a bubble in China’s stock market months before it plunged, said Hong Kong investors should be cautious about buying shares after the benchmark index surged 52 percent since early March.

    The comments from Hong Kong’s richest man yesterday follow his March 26 statement that investors with cash should consider buying equities and real estate. The Hang Seng Index has surged 22 percent since then.

    “If you ask me if the stock market can go higher, it’s possible,” said 80-year-old Li, known as ‘Superman’ locally because of his investment acumen. “But be careful, the economy still has some problems this year.” Li spoke to reporters after the annual shareholder meeting of his flagship real estate company Cheung Kong (Holdings) Ltd.

    The Hang Seng has climbed 52 percent from a four-month low on March 9 as investors speculated stimulus packages by governments worldwide, including a 4 trillion yuan ($586 billion) spending pledge by the Chinese government, will ease the global economic slump.

    “It was quite a downbeat statement from Li but probably a sensible one,” said Andrew Sullivan, a sales trader at Mainfirst Securities Hong Kong Ltd. “A lot of retail investors will listen to that.”


    Good to know that retail invetors are listening to Mr. Li...:D
  2. That was a nice ride in Hangseng from 17130 to 16700. Thank you Mr. Li ! My very respectful regards ! :D
  3. Daal


    He missed the rally and now wants a dip, smart man