But the HSI needs to break 14,800 to confirm we're heading higher. |
Financials are the natural choice for bargain hunters because retail sales in the U.S. were weak so investors feel the upside for interest rates may be less than expected, |
Financials are the natural choice for bargain hunters because retail sales in the U.S. were weak so investors feel the upside for interest rates may be less than expected. |
Gains on Wall Street overnight and in Tokyo this morning helped the market recover. |
H shares held well yesterday even if there was panic selling in Tokyo and other Asian markets yesterday. |
Hong Kong has been outperforming other markets, but buying has mainly been of banking and property stocks and they could not hold at this level because global equities are going down, |
Hong Kong has been outperforming other markets, but buying has mainly been of banking and property stocks and they could not hold at this level because global equities are going down. |
I think the market could test 15,900 today but profit-taking will set in at that level. |
Net interest margins in Hong Kong remain under pressure and Standard Chartered Bank's performance here in 2005 would likely not be as strong as in China and elsewhere in the Asia-Pacific where it has expanded aggressively. |
PCCW still has more upside potential but I think we will see some resistance when it reaches HK$15.5, |
PCCW still has more upside potential but I think we will see some resistance when it reaches HK$15.5. |
Profit-taking after yesterday's gains account for the softness in the market today. |
Regional markets are higher in the afternoon which helped the Hong Kong market up. |
Rumors about a merger of China's A and B markets, coupled with generally bullish expectations of further gains of China stocks, are driving buying interest in this sector. |
Sentiment is not too positive and people are quite cautious ahead of the Federal Open Market Committee meeting on Tuesday. |