The HSI was dragged down by the weak performance of some heavyweights, such as HSBC.
More Quotes from Francis Lun:
Fresh worries about rising inflation in the US and the extent to which the US Federal Reserve will raise interest rates are weighing down the market heavily.Francis Lun
There was profit-taking in stocks which have risen a lot in recent days. Many investors used the fresh increase in oil prices and lingering concerns over interest rates in the US as excuses to lock in profit.
Francis Lun
The investment made by some of Hong Kong's tycoons in Nine Dragons supported the debut of this company.
Francis Lun
Strong sales of apartments over the weekend and China's decision to allow the country's social security fund to invest overseas, beginning this week, provided support to the market.
Francis Lun
The market will continue to drop as China imposes austerity measures, and we have interest rate (fears) in the U.S.. These two blows means we're in for a correction -- a substantial one.
Francis Lun
The potential is huge, yet the pitfalls are bottomless. After years of communism, some companies borrow without the intention of ever paying the money back. It's a very high-risk market.
Francis Lun
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