HONG KONG (AFX-ASIA) – UBS Warburg has downgraded its recommendation on China Petroleum and Chemical Corp (Sinopec) (386.HK) to “hold” from “buy” following the stock’s recent outperformance. In a note to investors, the house said it is maintaining its price target on the stock at HK$1.40 a share. (US$1=HK$7.78). At the same time, UBS is…

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