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Politics : Formerly About Applied Materials

AMAT 301.11

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Jan 9 9:30 AM EST

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To: StanX Long who wrote (55820)	11/18/2001 5:36:49 PM
From: StanX Long	Read Replies (1) of 70976

Sunday November 18, 2:16 PM Hong Kong stocks seen facing upside resistance By Azhar Sukri sg.biz.yahoo.com HONG KONG, Nov 18 (Reuters) - Hong Kong stock prices are likely to be capped this week after a strong rally left many blue chips technically overbought, although property shares and China plays could provide some bright spots. "There's a lot of liquidity in the market, and there are a lot of stocks that are showing decent value, but sentiment is still quite weak," said Margaret Chin-Wolf, senior fund manager at boutique asset management company Nexus Asia in Singapore. "Global markets could still react very badly to further terrorist attacks on major cities," Chin-Wolf said. The Hang Seng Index <.HSI> ended up 0.43 percent at 11,287.37 on Friday, its highest close since August 30. The index gained 6.4 percent last week but is still down 25.23 percent so far this year, one of the worst performing markets in Asia. The Dow Jones industrial average <.IXIC> and Nasdaq <.IXIC> were flat on Friday but they ended sharply higher on the week on hopes for a speedy end to the war against Afghanistan.

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