Xinyi Glass A Buy; Less Vulnerable-Tai Fook

Tai Fook Research rates Xinyi Glass (0868.HK) buy; says company mainly produces auto glass, which mainly for replacement rather than for carmakers' production, so company less vulnerable to short-term fluctuations in vehicle production volumes worldwide.

"Looking forward, the company will display promising revenue growth for FY05 after the completion of new production lines for low-e glass, a kind of high-quality thermal insulated construction glass, and auto glass in 1H05." At forward PER of 9X for FY05, stock should offer "lucrative upside potential, given its niche in higher quality glass products." Shares last down 1.2% at HK$1.69.

600450 Xinyi Glass A Buy; Less Vulnerable-Tai Fook

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The following stocks are moving in Japanese markets today. Prices are as of 12:55 p.m. at the Tokyo Stock Exchange. Stock symbols are in parentheses after company names.

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