George Chan Market Quotations

Japan is closed today so the market is taking the U.S. as a reference. But there's not much activity because investors are taking a wait-and-see strategy ahead of Greenspan's speech.

When buying momentum starts to fall off the market starts to correct and I think we'll have a mild correction today.

Investors have discounted the China Unicom share price. China Telecom is oversold so it is attracting some buying but market sentiment is weak so it may not hold up.

The market's a bit higher on China Telecom again because investors are quite bullish on the acquisition but I doubt the market will continue to rise because many people are sidelined, awaiting the FOMC decision.

The market is following the Nasdaq and the Dow Jones higher but there is a lack of buying momentum so it might fall back later in the day.