Some H-shares have risen beyond their respective fundamentals and it's no surprise to see investors take profit on them today.
More Quotes from Francis Lun:
Local interest rates are on the rise and this is making investors cautious towards the property sector.Francis Lun
Select H shares, like China Mobile and commodities, continue to generate buying interest.
Francis Lun
It seems like institutions are still holding back from the market, maybe they are waiting for it go lower.
Francis Lun
In the case of the Link REIT, the government sold off the assets too cheaply, providing hedge funds like the TCI with an immediate upside.
Francis Lun
There was profit-taking in stocks which have risen a lot in recent days. Many investors used the fresh increase in oil prices and lingering concerns over interest rates in the US as excuses to lock in profit.
Francis Lun
The experience with New World Development proved a company could rebuff attempts by TCI to keep increasing its holding. What New World Development did was to place shares to friendly investors to strengthen its controlling stake.
Francis Lun
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