Sentiment in the market is still quite good thanks to a bounce in China Mobile and China Unicom.
So investors prefer to trim their exposure to equities a bit and wait and see.
I think investors will very soon realize that interest rates and oil prices are still going up. A big selling may be near.
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.
This special dividend is also very attractive for investors. Looking ahead, we're concerned the changes proposed under the scheme of control would have an impact on their business.
We are going to see a recovery (in Hong Kong) in the second half of this year.
Financials are proving resilient because of a fall in the size of bad loans worldwide,
There is not much news in the market,
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.
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.
Stocks are down slightly because investors are worried about two things,
Investors believe the hot money isn't going to disappear in the short term.
Investors believe that as long as the U.S. economy stays firm, there's a chance for them to make more good gains.
The company made some exceptional gains from its overseas operations, like the Australian transmission and distribution assets. The utility shows steady growth and has permitted returns. The higher power rates would help boost its development fund.
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.