Especially ahead of the National People Congress beginning November 7 with power structure changes -- who's in, who's out and what scores are being settled -- some of the recent scandals have raised the question whether someone is being prosecuted because it was a sign of a loss of some power or potential loss of power by a particular faction in the government.
More Quotes from Howard Gorges:
Hong Kong took a lead from Wall Street, Tokyo and other overseas markets, and this explains gains this morning.Howard Gorges
The market was very quiet because most investors didn't want to take any significant positions ahead of the Christmas holidays.
Howard Gorges
It's been a bit volatile today. People are selling into strength and buying into weakness.
Howard Gorges
We are getting a lot of rotational buying on blue-chip stocks right now. People are buying stocks when they are hurt or lagging.
Howard Gorges
A bit more good news could push the markets higher but any uncertainty could still shake them out.
Howard Gorges
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.
Howard Gorges
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