Kenny Tang Kong Quotations

Sentiment was seriously affected by news of an increase in China's lending rates. This pulled down the property sector both in Hong Kong and on the mainland and also affected H-shares and red chips across the board.

Henderson Investment's net asset value should be worth more than HK$20 and its units, Miramar Hotel and Hong Kong Ferry, still have room to develop.

The risk of a further slump of Hong Kong stocks is not great, as there is no evidence there are capital outflows in the region. Strong support remains at the mid-February low of 15,241.

Profit-taking dragged the index lower. But funds are still in Hong Kong and are helping support the index despite the pressure on stocks to trade lower after the weak showing of overseas markets.

Hong Kong telecom stocks have lagged European and U.S. telecom stocks this week so they are catching up.