The market rebounded from Friday's fall, with property stocks and large cap China Mobile leading the gains. Tokyo market's rally this morning boosted market sentiment.
More Quotes from Castor Pang:
Property and banking stocks will continue to be the drivers of the market with people expecting the interest rate hike cycle nearing its peak.Castor Pang
Gains on Wall Street and Tokyo provided support to the local market. Properties led (the gains) as many developers will launch new projects for sale.
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
Profit-taking in many China stocks ... drove the market as well as H-shares into negative territory.
Castor Pang
China-related stocks will likely to be hit by the austerity measures. I expect further correction in China stocks in the short term.
Castor Pang
Most investors believe interest rates will peak in the next quarter which means property developers should rebound soon.
Castor Pang
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