[Dow Jones] HSI +0.8% at 19,702.98, rebounding after 5.7% fall over past 3 sessions, but gains capped due to falls in heavyweight HSBC, with stock down 1.3% at HK$78.85 on continued credit concerns in Europe.
'Though ignorance of the debt crisis in Europe is not a luxury prudent investors can afford, neither is excessive pessimism,' says Taifook. Notes, risk aversion has benefited USD at expense of stock and commodity markets but China's continued efforts to stimulate country's internal consumption (such as via subsidies for home appliances in rural areas) would suggest there'll be bargain hunting in resources and China consumer stocks.
Among resources plays, Shenhua +1.6% at HK$31.40, Chalco +0.4% at HK$7.28. Volume modest at HK$36.379 billion.
'Though ignorance of the debt crisis in Europe is not a luxury prudent investors can afford, neither is excessive pessimism,' says Taifook. Notes, risk aversion has benefited USD at expense of stock and commodity markets but China's continued efforts to stimulate country's internal consumption (such as via subsidies for home appliances in rural areas) would suggest there'll be bargain hunting in resources and China consumer stocks.
Among resources plays, Shenhua +1.6% at HK$31.40, Chalco +0.4% at HK$7.28. Volume modest at HK$36.379 billion.
