Nasdaq dip may prompt stock sell-off

PUBLISHED : Monday, 31 July, 2000, 12:00am
UPDATED : Monday, 31 July, 2000, 12:00am

A drop in the US Nasdaq market on Friday on rate-rise fears, and the sackings could see a sell-off in technology stocks today, analysts say.

Last week, the Hang Seng Index burst through the 18,000 level before dropping to close at 17,183.98 points on Friday. Before the 4.66 per cent plunge in the Nasdaq, many had been predicting a rebound today.

Good news from HSBC, which reports earnings after the market closes today, could boost sentiment later in the week.