Profit-taking took hold following recent gains. I believe the lack of any significant local news prevented a further rise in the index.
More Quotes from Jackson Wong:
I don't expect the market to have sharp movement today, with the benchmark index likely to hover within a range of 100 points.Jackson Wong
There was profit-taking in select blue chips and China-related stocks after recent sharp rises. Investors turned cautious as US and Tokyo markets were weak.
Jackson Wong
Banks and property stocks still have room for upside following strong interest in these stocks Friday. Easing interest rate worries and mortgage cuts offered by banks should help support sentiment for the sector.
Jackson Wong
Follow-through interest in select blue chips and China-related stocks drove the benchmark index up. Funds kept chasing these stocks after the market broke through the 16,000 points level.
Jackson Wong
They have a good team. I think they're going to do well in league this year. We're 4-0 and I can't remember the last time we were 4-0. I think every year we say it's anyone's league but this year it's truly anyone's to win because as of right now, the teams we've seen don't have a big hitter.
Jackson Wong
Trading is cautious ahead of the US jobs data. It should give us an idea about the interest rate trends in the coming months.
Jackson Wong
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