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.
More Quotes from Herbert Lau:
Telecom stocks are being buoyed by merger and acquisition news overseas,Herbert Lau
Shares are not doing too well across the board this morning,
Herbert Lau
Shares of Cheung Kong (Holdings) was up 4.56 percent at HK74.50. Cheung Kong is playing catch up with Hutchison, ... It's been a laggard over the past few weeks so investors are trying to narrow the gap with Hutchison.
Herbert Lau
Some investors are staying at the sidelines as uncertainties linger over whether the Fed would surprise the market by a larger-than-expected cut in interest rates.
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
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
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