Sentiment in the market is still quite good thanks to a bounce in China Mobile and China Unicom.
Most of the markets in the region are also under selling pressure on fears of rising ( U.S. ) interest rates. The funds have definitely been trimming down their [Asian] exposure.
Financials are proving resilient because of a fall in the size of bad loans worldwide.
So investors prefer to trim their exposure to equities a bit and wait and see.
The direction of the U.S. dollar: Since the economy shows signs of slowing, investors are worried that if the dollar weakens further it might affect equities and other US dollar-denominated investment vehicles. They are also worried about U.S. producer price figures for May.
We are going to see a recovery (in Hong Kong) in the second half of this year.
It was profit taking from yesterday's 100-point gain, ... At HK$2.5 billion the volume was extremely thin ahead of the Christmas holiday.
There is not much news in the market.
Over the last few days market trading has been very thin and there has not been much volatility to speak of. The index has been up maybe 30 points and down about 70.
Copyright © 2024 Electric Goat Media. All Rights Reserved.