Sze Chun Wai: HSI may go down to test 20,600, awaiting CN's imports, exports data - AASTOCKS.com

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Sze Chun Wai: HSI may go down to test 20,600, awaiting CN's imports, exports data

2012-02-09 17:32

Hong Kong market stabilized after falling on higher-than-expected inflation rate in Mainland China, closing the day slightly down 8 pts. Sze Chun Wai, Director of Tianda Securities Limited, said HSI accumulated quite big a gain of 11% in a single month. It climbed from 18,800 in early January to the current level of 21,000. Therefore, he was worried the broad market might recede. He projected HSI to go down to test 20,600 initially and might further slip to 20,000. He would wait and see whether Mainland's imports and exports data, which would be announced tomorrow, would provide support to local stocks. (k)

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