Tony:
The one service on the net I pay for, Asiawind, seems to think the HK
rally hits its' next resistance point at 11,200.
They also seem to think that HSBC holding above HK$258.00 for 3 days
is also important, as the big futures guys use this stock to manipulate the index.
As we saw last night, the Hang Seng was somewhat suppressed, but the
Red Chips & H shares rallied nicely.
As Tom noted, the HK market is historically volatile. We will most certainly have some down days in the near future. But, IMO, when
earnings start to come out on some of the companies, not even the most
prudent overseas investor will be able to resist the implied low p/e's
offered on some HK traded stocks.
Just my opinion.... nothing more.
Glad the links were of benefit.
Doug |
