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.
More Quotes from 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
Investors are buying property shares ahead of results. Most expect the results to be strong on the back of contributions from new (property) developments which should have contributed to earnings in the six months to December.
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The upside should be sustainable due to its attractive yield.
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The local market was mainly boosted by overseas gains. Sentiment was strong, supported by fresh fund inflows, leading to a rally ahead of the Lunar New Year.
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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
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