Broad market turnover fading and short-term performance expected to choppy

Despite the reviving US stocks as a result of improved economic figures, First Shanghai Research Department Manager Ye Shangzhi predicted that the Hong Kong stocks will maintain choppy in the short run since the turnover at the broad market was shrinking sharply which caused the whole tread to go weak.

He pointed out that despite the several rate-cuts, investors confidence has not yet been restored and another rate cut is still unlikely to stir the stock markets. The economic recovery depends largely on whether the future US economic figures can be further improved.

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