STOCKWATCH: HK stocks to rebound

With FOMC rate-cut talks to take place next Tuesday, the market is speculating on a US rebound at the end of the week to stimulate Hong Kong. There should be initial support for the HSI at the 13200-level. Since Hong Kong stocks have already accumulated a wide down-range, technical rebound is not unlikely. However, with turnover being weak, and the market having been churning, the speed of rebound may be limited. The market will remain choppy for some time and unsuitable for short-term investors. It is advisable to wait for FED news next week. At the moment, there is a phenomenon of severe over selling: long-term investors can consider individual blue chips with earnings report already released.

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