It may not be long before we see another interest rate cut and this could account for the follow-through buying we are seeing today.
More Quotes from Howard Gorges:
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.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
Most investors were expecting a correction this morning after sharp gains in the past few days but when they saw that there wasn't much selling pressure, buyers came back and pushed up the market.
Howard Gorges
A bit more good news could push the markets higher but any uncertainty could still shake them out.
Howard Gorges
The market is behaving fairly normally, it's Hong Kong following Wall Street to a degree and it's also focused on the interest-rate outlook. Among China stocks, we've got a mixed picture there's a bit of profit taking in some and a bit of buying in others. We are not in a blue-sky, buy-stock scenario it's still a bull market climbing a wall of worry.
Howard Gorges
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