The main contributor to the index was China Mobile. The strong sentiment for the stock spilled over to other blue chips and helped the index breach the 16,000 points level.
More Quotes from Kenny Tang:
The market was in the midst of a mild correction after recent rally as investors took profits ahead of the upcoming Easter holiday.Kenny Tang
The new accounting standards won't significantly affect Cheung Kong's underlying profit until the second half when both rental income and the value of its investment properties are expected to continue to rise.
Kenny Tang
China stocks outperformed the market, reflecting investors' confidence in these stocks and the prospects of China's economy.
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Some hope the bank will serve as a catalyst for the index to breach the 16,000 point level when it announces results next Monday.
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While the underlying prospect of the mainland financial stocks' improving profitability and the appetite of foreign institutions over mainland's financial market remains, the recent slowdown is an adjustment for the second phase of growth.
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It has the biggest customer base (in China) and has most of the high net worth customers. It is a long-term earnings story.
Kenny Tang
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