MARKET TALK: HSI Off 0.2%;But Upward Momentum Remains -Taifook

28th Jul 2010 03:19

0219 GMT [Dow Jones] HSI down 0.2% at 20,938.29, snapping 6-session winning streak, but pullback appears normal consolidation, with "upward momentum unabated," according to Taifook Securities; likely just matter of time before psychological 21,000 cap cracked. Market volume light at HK$5.31 billion in first 15 minutes. Blue chips mostly lower on profit-taking, but only 3 stocks fall more than 1% and none by more than 2%. HSBC (0005.HK) bucks trend, +1.0% at HK$79.60, tracking gains in European banks on watered-down Basel 3 proposals, lending support to index. Hang Lung Properties (0101.HK) down 0.9% at HK$33.35 on profit-taking ahead of FY results expected lunch time. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 27, 2010 22:19 ET (02:19 GMT)