Goldman Sachs downgraded the ratings of Taiwan Cement International (01136-HK) and Asia Cement (00743-HK) from buying to neutral; the latest forecast is that in 2012, national cement prices will drop 5% year-on-year, while Taiwan cement and Asian cement will be affected by weak demand in central and southern China, reducing profit expectations for the two companies by 17%-41% for the 12-14 year; the new target price for Taiwan cement is HK$2.7, and the target price for Asia cement is HK$3.7. Taiwan cement dropped 0.06% yesterday to close at HK$2.34. Asian cement rose 0.02% yesterday to close at HK$3.19.