Steve Tuen Market Quotations

The market is going to be terrible. The last couple days ? with all the earnings warnings coming ? investor sentiment has been shot combined with the summer season.

Investment bankers were being a bit too optimistic in terms of deal flow. The market has stabilized but I don't think there is a lot of enthusiasm yet. We are not yet in a strong, up market. Putting in 30 deals, when a couple of weeks ago there was hardly any, may have been too much to bear.

The IPO market is still relatively weak. Next week there are no deals expected to price.