The peak of the interest rate cycle may be much higher than expected. Continued inflation in the US indicated a need for a rate hike for few more times until next year.
More Quotes from Louis Wong:
I think the market's come to realize that economic growth in the U.S. is not threatened by higher oil and commodity prices. Regional markets also benefited from positive fund flows.Louis Wong
There's concern about oversupply and price competition. Price competition has been very keen.
Louis Wong
It's a bit disappointing, personally, because I expected earnings growth to be 40 percent at least for the year.
Louis Wong
It's unclear when the Fed will stop raising interest rates. Even if the rate hike comes to an end, Hong Kong's stock market may not rebound immediately.
Louis Wong
That's quite good for 2005, after the central administration implemented measures to cool down the economy.
Louis Wong
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