A CONTINUING influx of foreign cash could push the Hang Seng Index up further this week, despite doubts whether the unexpected rally can be sustained.
Last week's 885.66-point surge in the Hang Seng caught investors by surprise, despite evidence that US interest rates have peaked.
Brokers believe the index may rise by another 100 to 200 points early this week, but a correction over the short term is expected.
Samuel Lau, research director at Seapower Securities, described the influx of funds as 'hot money' which would not remain in the market for long.
The Hong Kong market's fundamentals remain the same despite last week's strong turn in sentiment, which triggered heavy buying.
Daily turnover rose to $8.35 billion on Thursday and almost $10 billion on Friday.