ANALYSTS were guarded in their predictions about this week's movement of the Hang Seng Index as they awaited the outcome of the Sino-British talks in Beijing. ''It so depends on the news,'' said Mr Nigel Down of Thornton. ''To make a prediction would probably not be a sensible thing to do.'' However, the general feeling was that, assuming no negative news came out of the talks, the market would drift. ''I don't expect any immediate agreement,'' said Sun Hung Kai's Mr Percy Au-Yeung, who did not expect trading to break 6,900. ''Generally upwards,'' said PBI's Mr Phillip Chan provided the talks were not aborted. Last week began on a slow note with prices ending mixed on Monday as the key index declined for a third consecutive day, sliding 17 points to close at 6680.15. Among the individual stocks, performance was equally as lacklustre with the exception of Cheung Kong (Holdings) and Hutchison Whampoa, which both went up following chairman Mr Li Ka-shing's announcement on Sunday that he would buy back the outstanding covered warrants on the two companies. But on Tuesday, trading continued on the downward four-day trend as cautious investors depressed the index by 41.61 points to 6,638.54. Profit-taking hit blue chips, with only five of the 33 index stocks closing higher. Not until Wednesday did the market change direction as Hongkong shares rose sharply on the eve of Sino-British negotiations on the territory's political future. The Wednesday surge followed reports that China was prepared to restart talks about building a new airport for the territory. The blue chip index gained 129.85 points, or two per cent, to 6768.39. Volatile trading on Thursday saw the index fall 9.15 points to 6,759.24. A mid-day rumour that a Chinese negotiator had walked out of the talks sent the index plummeting 75.67 points. Investor activity at the close of the week regained its relatively lacklustre hue with the market closing at 6,755.