The market was supported by Wall Street's rebound. There is also some optimism about HSBC driving up share prices.
More Quotes from 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
Property stocks sprang to life after falling about 10 percent on average over the past six months as rising interest rates dampened property market sentiment.
Kenny Tang
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.
Kenny Tang
We're seeing some bargain hunting in China Mobile as some funds are switching from interest-rate sensitive stocks that have rallied to China shares.
Kenny Tang
It was a technical rebound, but the upside was limited as the market was still building momentum. Buying interest was still on Chinese stocks, as they looked more attractive with their earnings stories.
Kenny Tang
The market has widely digested trading leads that indicate further interest rate hikes will be needed and thus, investors were not very sensitive to that.
Kenny Tang
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