THE market is expected to remain quiet ahead of the Legislative Council's review of Governor Chris Patten's democratic reforms package, but funds from overseas should continue to filter into Hongkong, brokers said. Last Friday's Hang Seng Index sharply recovered, closing 1.15 points up at 5,858.15, with the burst of activity coming within the last 30 minutes of trading. Turnover was low at $2.04 billion. The market had dropped 12 points on Friday morning but came up in late trading following a rush of buying from overseas, brokers said. ''It's a period of uncertainty, so it will be very quiet; there won't be too much activity,'' said an analyst at a foreign brokerage yesterday. ''It's still a political market, and until something happens in Legco, nothing much will happen.'' Another analyst said: ''There will be some buyers in the early part of the week but with small volume. People are waiting for an outcome to the Sino-British dispute, so I think they'll be cautious.'' However, brokers said they did not believe the market would drop sharply before Legco's viewing of Patten's proposals, for which the date is expected to be announced later this month. Interest will still remain in new issues like Denway Investments, which was oversubscribed 659 times. The issue has temporarily absorbed about $240 billion of capital, worth about 40 per cent of Hongkong's 1991 gross domestic product. Grey market prices for Denway were around $2.90 to $3 last Friday, compared to its issue price of $1.22. Its price earnings was 6.9 times. Tack Hsin, another new issue, traded at a similar level in the grey market but closed last Friday, its first trading day, at $1.51 against an issue price of $1.02. Trading volume is expected to remain low, according to brokers. However, they said property counters and banks could see a boost soon, pending the outcome of Sun Hung Kai Properties' offer of 90 per cent mortgage lending rates. If the government does not object to Sun Hung Kai Properties' high mortgage lending rates, property developers and banks could see healthier profit gains in the future, analysts said. Last Friday's winners included Wharf Holdings, which closed up 20 cents to $17.50 on a turnover of $2.45 million; Hongkong and China Gas, which finished up 40 cents to $15.90 on a turnover of $1.09 million; and Sun Hung Kai Properties, which closed up 30cents at $28.90 on a turnover of $1.5 million.