Tuesday, May 17, 2011

Hang Seng Moving In Area 22600-23100

Hang Seng followed Wall Street's weakness last night. The index fell0.3% to 22.800, according to Ben Kwong, chief operating officer atKGI Asia. Hang Seng expected to move in the range of 22.600 to 23.100 today.
"Media reports said peemerintah China is expected to make a new step in the property sector in the near future. Along with the weakening of the worldwide market, predicted the local marketcontinued to weaken today." Cnooc fell 1.1% to HK $ 17.82 related to oil prices continue to decline. Sinopec rose 0.3% to HK $ 7.56.The trading volume is only HK $ 4.82 billion.

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