Shares rebounded from Friday's fall with property stocks and large cap China Mobile leading the gains. The momentum was, however, not strong enough for the index to touch the 16,000 points level.
More Quotes from Jackson Wong:
Some investors took profits in select blue chips, driving the benchmark index into negative territory. Trading was confined to a narrow range ... ahead of the long Christmas holiday.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.
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I don't expect the market to have sharp movement today, with the benchmark index likely to hover within a range of 100 points.
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Trading is cautious ahead of the US jobs data. It should give us an idea about the interest rate trends in the coming months.
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The market was led by H shares which were higher today after Beijing allowed its social security fund to invest in overseas markets.
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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
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