HSBC, CHINA MOBILE, AIA Appear to Strengthen, Following HKEX

AAStocks ·  {{timeTz}}
HSI showed an obvious rebound yesterday (22nd) by opening high by 240 pts, only to drop back into a state of seesaw afterwards and to close at 27,723, up 499 pts, said Francis Kwok, Vice Chairman of Hong Kong Institute of Financial Analysts and Professional Commentators. Kwok remarked that the actual driving force and upward trend of the HSI are not compatible and that should such problem continue to drag on, the market's upward momentum will likely be hampered.

Kwok added that judging from yesterday's performances, HSBC HOLDINGS (00005.HK), CHINA MOBILE (00941.HK) and AIA (01299.HK) appear to have already started on stability capital planning, with HKEX (00388.HK) already showing signs of attempting at its historical high previously.

(The author is the licensee of SFC)

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