Although the market staged a technical rebound today, the lower turnover suggests that investors are cautious on concerns of possible austerity measures to be introduced by the Chinese government. |
I think sentiment is turning a bit cautious after seeing the market rallying three days in a row, so there's profit-taking at about 16,800. |
I think the market's come to realize that economic growth in the U.S. is not threatened by higher oil and commodity prices. Regional markets also benefited from positive fund flows. |
If the job data is stronger than expected, people will expect a longer rising trend in interest rate. |
In the short term, there is uncertainty regarding share placements. Since August 31, fund-raising activities by various companies have raised about HK$22 billion from the market, so that is an overhang. |
It's a bit disappointing, personally, because I expected earnings growth to be 40 percent at least for the year. |
It's unclear when the Fed will stop raising interest rates. Even if the rate hike comes to an end, Hong Kong's stock market may not rebound immediately. |
That's quite good for 2005, after the central administration implemented measures to cool down the economy. |
The peak of the interest rate cycle may be much higher than expected. Continued inflation in the US indicated a need for a rate hike for few more times until next year. |
The rise could also be attributed to some year-end window dressing activities as port related stocks has performed relatively poor earlier. |
The strong sentiment of the US and Japan markets helped push up the index. The rally is very broad based. |
There were no nice or nasty surprises in the budget so market reaction was quite muted. |
There's concern about oversupply and price competition. Price competition has been very keen. |