“We're seeing a minor technical rebound after Wall Street rebounded from two days of losses. The key will be whether the index can hold above 17,400, if it can't it will indicate we'll see another single-day reversal.”
“The index tried to challenge 18,000 but failed, so that triggered profit taking. Tokyo's slide also depressed sentiment. If the HSI breaks 17,400 that will be the first sign that sentiment is weakening.”
“I think there was some minor selling pressure on telecom stocks as the market continued to see a weaker European telecom sector due to the high cost of Germany's third-generation mobile-phone licenses.”
“Property shares had a technical rebound, but interest rate concerns will still affect properties until there are signs that the U.S. interest rate cycle will end.”
