look at the title to this nonsense... ok, if stocks are set to rally and al you smart people know this, who are the idiots selling at the open?
Monday May 22, 9:08 pm Eastern Time
HK stocks set to fall slightly then gain ground
HONG KONG, May 23 (Reuters) - Hong Kong stocks are expected to open slightly
weaker on Tuesday but analysts are looking for a short rebound later in the day.
``The late recovery on Wall Street will help remove some of the fears on global markets,''
said Andrew To, sales director at Tai Fook Securities.
The Dow Jones Industrials (^DJI - news) had a roller-coaster ride on Monday. It was down more than 240 points at one stage
as interest rate fears continued to weigh on the market, but rebounded to finish just 0.79 percent, or 84.30 points, lower at
10,542.55.
The Nasdaq composite index (^IXIC - news) recovered from a 210-point drop in early trade to end down 0.77 percent, or
26.19 points, at 3,364.21.
``These recoveries indicate there is strong buying interest at lower levels,'' To said. ``In Hong Kong the market has already
suffered a sharp correction in the last few days and selling pressure has eased on Cheung Kong and there is buying interest in
Hutchison so there's a chance for a rebound.''
The benchmark Hang Seng Index (^HSI - news) fell 2.33 percent, or 337.53 points, on Monday to 14,140.73. |
