The auction results are likely to be neutral but if the site in Repulse Bay could be sold at a good price it should give property stocks a boost.
More Quotes from Peter Lai:
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.Peter Lai
The strong fund flow supported gains in the market. Investors were buying property stocks following recent weakness in the sector due to concerns over interest rates.
Peter Lai
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.
Peter Lai
You have to talk about the culture before you can talk about business.
Peter Lai
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
Peter Lai
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