DJ MARKET TALK: Multi Sports Down 1.8% On Debut; Weak Sentiment

0217 GMT [Dow Jones] NEW LISTING: Multi Sports (5150.KU) down 1.8% at 83.5 sen vs IPO price; most active counter with 81.5 million shares traded, but off intraday high of 89 sen on Main market listing. Dealers say weak market sentiment encouraging IPO subscribers to sell. "The stock is currently trading at an undemanding valuation of 4.4 times. Investors are concerned that a steeper correction is imminent and, as a result, more confident of an opportunity to accumulate on price weakness," says one dealer. Expects stock to slide down to as low as 80 sen if bearish sentiment persists. Multi Sports is one of 5 largest shoe sole manufacturers in Jinjiang, China; current orderbook outstrips capacity by almost 3-fold. (VGB)