Alex Wong Downs Quotations

The market is down on Wall Street's performance but it may rebound from here because Hutchison and Cheung Kong don't seem to have too much downside and China Mobile's share price in the U.S. didn't fall too sharply overnight.

There probably isn't too much downside from here. The performance of other Asian markets is quite encouraging so I think the index may hold above 16,000 and maybe rise to 16,250 later in the day.

We should have narrow range trading today with a downside bias on profit-taking.