Conita Hung Quotations

I expect some correction in the shares after yesterday's substantial rebound. I believe the market is not strong enough to sustain the jump, with investors also likely to take profits today.

I expect the market to open lower following weakness in regional markets in early trade. The absence of any market-moving news will prevent companies from taking major positions in the market.

Properties were weak as investors were concerned that further rate hikes will affect earnings of developers. But I think some investors just used rate worries as an excuse to sell the stocks.

The US market has gone up for the past (few) consecutive trading days and should provide further momentum for local shares to trade higher. There are no local news (leads) that may dampen trading mood. The focus will remain on H shares because of the yuan, with second-liners also drawing some attention from investors.