Momentum in the two China telecom stocks is slowing because all the good news is in the price now, ... In the near term they will follow the trend in the telecom sector, where there is still some weakness.
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.
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.