Profit-taking dragged the index lower. But funds are still in Hong Kong and are helping support the index despite the pressure on stocks to trade lower after the weak showing of overseas markets.
More Quotes from Kenny Tang:
Sentiment was seriously affected by news of an increase in China's lending rates. This pulled down the property sector both in Hong Kong and on the mainland and also affected H-shares and red chips across the board.Kenny Tang
The local market was mainly boosted by overseas gains. Sentiment was strong, supported by fresh fund inflows, leading to a rally ahead of the Lunar New Year.
Kenny Tang
The developer has benefited from a strong property market last year but the sales growth may slow down this year because of rising interest rates.
Kenny Tang
Investors are becoming more skeptical about the impact created by TCI and other hedge funds. They realize the shares could rise quickly in anticipation that the hedge funds might increase their holdings, but they are also wary of the potential for sharp falls when these hedge funds exit the market.
Kenny Tang
As the nation's largest player in this market, Nine Dragons would definitely grab more market attention than Lee Man.
Kenny Tang
There's some consolidation pressure after two days of strong gains.
Kenny Tang
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