THE Hong Kong market is expected to open on a downbeat note this week, reflecting Wall Street's slight decline and nervousness over the weak Hong Kong dollar.
The Hang Seng Index (HSI) will head south at the beginning of the week, moving in tandem with a 0.36 per cent drop in the Dow Jones Industrial Average, which closed at 4,157.69 last Friday, said analysts.
A lack of optimism meant that the barometer was unlikely to test the 9,000 level this week, they added.
Although results of the last two land auctions for the 1994/95 financial year were encouraging, aggressive bidding and the return of major developers have so far failed to ignite the HSI.
However, there is a consensus that trading will see support at the 8,200 level.
With little local corporate news expected, the focus will fall on the H-share companies. Four are expected to announce their results this week. They are Yizheng, Guangzhou Shipyard, Luoyang Glass and Beiren Printing.
