China-related stocks will likely to be hit by the austerity measures. I expect further correction in China stocks in the short term.
More Quotes from Castor Pang:
Overbuying of China stocks was obvious in the last two weeks. Investors are taking profits gradually, but some are still chasing laggards such as commodity stocks.Castor Pang
Funds' selective buying helped support the index. The market extended its gains in late trade also due to some futures-related trading.
Castor Pang
Henderson Land's strong gains were due mainly to speculation that it might privatize unit Hong Kong China Gas and launch a real estate investment trust.
Castor Pang
Heavy profit-taking in China Mobile led to the market's fall. Other blue chips were also lower as some investors locked in profits after recent rises.
Castor Pang
The profit-taking is quite obvious this morning. The current factors and the fundamentals can't support the index to go up further. At this level, the upside is limited.
Castor Pang
The market gains, led by heavyweight China Mobile, were underpinned by heavy purchases from institutional investors.
Castor Pang
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