China Telecom is suffering selling pressure this morning, but otherwise selling is not too strong. |
China Telecom is weaker because attention is on Unicom. Overall the market is still consolidating because there is still no clear direction. |
Investors are trying not to build up big positions this week. |
People feel that the market at 16,000 is a bit too high so there's not much strong buying interest. |
The market will take a fine line today but banks and property counters are going to weaken because of the interest rate rise. |
There's still profit taking pressure but I expect the index to trade around the 17,500 level today. |