HK gold miners outperform (HSI down 1.9%), with spot gold solidly above $950/oz. Choy Peng Foo at UOB Kay Hian tips gold price to average $1,000/oz for FY09; says weakening USD and inflation chance (amid hoped-for global economic recovery) likely to provide more support for gold ahead. Rates Zijin (SSE:601899, HKG:2899) at Buy with HK$7.15 target, as company has biggest output in China; while house doesn't officially cover Zhaojin (HKG:1818), she suggests investors buy this stock, as it's more leveraged to gold price, with over 80% of sales coming from gold operations. Zijin (HKG:2899) +0.2% at HK$6.65, Zhaojin (HKG:1818) +0.7% at HK$11.64; duo up 5.6%-8.2% yesterday. Read More
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