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.
More Quotes from Howard Gorges:
A bit more good news could push the markets higher but any uncertainty could still shake them out.Howard Gorges
Hong Kong took a lead from Wall Street, Tokyo and other overseas markets, and this explains gains this morning.
Howard Gorges
It's good to see CLP making a one-off gain last year and investors are happy to see that its earnings from overseas operations are increasing. However, it faces problems ahead as the government looks to change the scheme of controls which apply to local power companies.
Howard Gorges
Overseas money is the primary driver based on a return of a degree of confidence. It is now perceived that most economies have bottomed out and are now on a recovery trend.
Howard Gorges
You can't just get people to suddenly discover integrity overnight.
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
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