We are getting a lot of rotational buying on blue-chip stocks right now. People are buying stocks when they are hurt or lagging.
Yesterday's announcement by the Hong Kong Mortgage Corporation that the government would provide a top-up guarantee on mortgages was good for the market. But we are still a bit cautious. It was very light turnover and there was no real selling pressure.
Futures are still trying to point this market up. People are now beginning to say this market could reach 11,000 by the year end.
There is follow-through buying of select H-shares, mainly commodity stocks.
Overseas money is the primary driver based on a return of a degree of confidence. It is now perceived that most economies have bottomed out and are now on a recovery trend.
Most investors were expecting a correction this morning after sharp gains in the past few days but when they saw that there wasn't much selling pressure, buyers came back and pushed up the market.
We could have another surge in the markets later in the year, around September or October, as the economies show further signs of getting stronger.
There is some profit-taking after yesterday's gains, with many investors investors cautious over interest rates.
Scores of investors are of the view that interest rates won't go up much higher.
Some sort of correction was overdue. The market may now be moving into consolidation after recent sharp gains. There is still a good appetite for stocks.
You can't just get people to suddenly discover integrity overnight.
A bit more good news could push the markets higher but any uncertainty could still shake them out.
It may not be long before we see another interest rate cut and this could account for the follow-through buying we are seeing today.
It's been a bit volatile today. People are selling into strength and buying into weakness.
It's good to see CLP making a one-off gain last year and investors are happy to see that its earnings from overseas operations are increasing. However, it faces problems ahead as the government looks to change the scheme of controls which apply to local power companies.
They won't go mad; they're coming back after being in the doldrums.
In the long-term, I think there is quite a lot of institutional money that might just want to simply have a yield, a relatively high yield, with perhaps a little bit of growth potential in it.
In a bid to combat deflation, there was a concerted drive by the Chinese authorities to get people to take their savings and invest in the stock markets.
Hong Kong took a lead from Wall Street, Tokyo and other overseas markets, and this explains gains this morning.
The Hong Kong market takes the lead from Wall Street and, to a lesser extent, other overseas markets such as Tokyo.
The index's performance has been quite disappointing the last couple of days. I see no reason for the market to soften. There is quite a lot of money around which should support the market going forward.
The market was very quiet because most investors didn't want to take any significant positions ahead of the Christmas holidays.
