Peter Lai Market Quotations

There are some bargain hunting at lows for blue chips but I think the market is likely to move within a range of 15,100 and 15,700 points.

Mild profit-taking set in and partly erased earlier gains. I believe the sustainability of the index above the 16,000 point level would really depend on the fund flow and market sentiment. Mixed showing at Wall Street overnight may have kept some traders cautious.

Continued fund flow into Hong Kong and positive market performance overseas helped support gains in the market.

Rate-sensitive property and banking stocks continued to support the market in early trade but the gains failed to sustain as investors took profits after recent rallies.

The market was relatively quiet today, with HSBC among the gainers, which helped pull the index out of negative territory.

The market has been listless due to a lack of direction. Inflation fears still exist in the market where there's a lack of interest.