HK Stocks Seen Falling, Led by Properties

Hong Kong stocks are expected to continue their downtrend Thursday as investors may pull down the market using the excuse that no measures have been proposed in the 2001/2002 Budget to boost the property market.Caster Pang, assistant manager of Tingkong-Rex Capital Securities International, said that properties would see bigger profit-taking pressure today because the Financial Secretary had not proposed any measures in the Budget to improve the property market. But the downside of the HSI will be limited to a range of about 200 pts.The Hang Seng Index is expected to move between 14,000 and 14,200 today, and will find support at the 13,900 mark.

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