People are switching to utilities because there is a lot of uncertainty in the market about how deep the rate cut will be.
More Quotes from Herbert Lau:
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.Herbert Lau
China Telecom is also being hurt by the agreement between the European Union and China on WTO, ... Under the agreement China has given further concessions on the telecom sector that will allow foreign players to come in and that will hurt the longer-term prospects of China Telecom.
Herbert Lau
CW is not desperate to raise funds so I don't think they will want to unload PCCW at such a depressed price,
Herbert Lau
The market fell 5 percent last week so it should stabilize a bit, but tech stocks are still weak.
Herbert Lau
Property sentiment has also been boosted by a Bank of China report urging the government to act to boost the market, ... The government may be forced to do something such as restrain land supply in coming years and shelve some government-subsidized flats.
Herbert Lau
The market is basically quite quiet. There's some profit-taking after yesterday's surge but overall market sentiment has stabilized somewhat because recent U.S. data has been quite positive and that has allayed fears about an interest rate rise this month.
Herbert Lau
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