Advertisement

Hopes high in spite of index fall

Reading Time:3 minutes
Why you can trust SCMP
0

STOCKS have fallen more than 300 points, or 3.1 per cent, on the Hang Seng Index over the past five trading days, signalling deep uncertainty among investors.

In spite of this, brokers remain confident the index will finish the year above 10,000.

In a straw poll of 10 brokerages, three predicted the index would finish the year at 11,000, four favoured 10,500, two said 10,000 and one 9,200.

The index's highest close this year is 9,939.95 last Wednesday, up 1,748.91 points since January 1.

It has headed downhill since due to declines on Wall Street, where technology stocks are being sold heavily, and an absence of foreign funds flowing into the region.

The retreat has increased the caution of tipsters and pared back predictions for the index.

Advertisement