STOCKWATCH: HK stocks: Tug-of-war state to be decided by US stocks

Without favourable news, the broad market lacked obvious direction and declinded after the technical rebound on Thursday last week, indicating great caution on the part of investors. The market is expected to be volatile, with profit-taking selling in the earlier sessions but finding support on the 13300-level. Banking and property stocks may be faring well, with anticipation of rate cuts in the air. The telecom sector, on the other hand, will have to depend on the performance of market abroad. Since foreign telecom stocks are still on the weak side, it is recommended to keep some reservations as far as such stocks are concerned.   

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