MARKET TALK: HSI Likely To Rise But Volume Key - Broker

14th Jun 2010 02:24

0124 GMT [Dow Jones] HSI likely to rise to test psychological 20,000, taking cue from higher ADRs, gains in regional bourses. Still, key cap not 20,000, but 50-day moving average at 20,577, says senior broker at local house. "We need a pickup in (market) volume for the rally to sustain," he says, noting while HSI in 4-session winning streak, average daily volume in that span paltry at HK$47.79 billion; says with A-shares market not reopening until Thursday, World Cup going on, believes volume may continue to languish. HSBC (0005.HK), China Mobile (0941.HK) set to rise with ADRs both ending up nearly 1% vs HK close Friday. HSI ends +1.2% at 19,872.38 Friday, gained 0.5% for week. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 13, 2010 21:24 ET (01:24 GMT)