It's still to early to say whether Hutchison and Cheung Kong's share prices can hold up today,
We're seeing some profit-taking of blue chips after Friday's gains but generally the market is very quiet ahead of the release of more U.S. economic data tonight and an expected interest rate hike tomorrow.
We're seeing across the board buying after tame employment data out of the U.S., which is reducing pressure for interest rate hikes, and a good response to residential property sales over the weekend.
Shares are not doing too well across the board this morning,
The market would have expected a placement at a bigger discount.
The market will stay in a trading range. The high oil prices and also the possible rate increase are pretty much priced in already.
The market thinks the note issue is slightly positive for Hutchison because it will help the company raise funds for third-generation mobile-phone ventures in Europe and the conversion price of the bonds is at a very good premium on the Vodafone share price,
The market's doing pretty well. We've had some good figures out of the U.S. and futures were very strong at yesterday's close.
The market is basically quite quiet. There's some profit-taking after yesterday's surge but overall market sentiment has stabilized somewhat because recent U.S. data has been quite positive and that has allayed fears about an interest rate rise this month.
We see HSBC announcing an 18 percent rise in interim profit to about HK$20.6 billion and our target for the stock is HK$120 within the next three to six months,
