Markets in for a weak week as investors hold their breath Things just are not as rosy as they once were, with the globe's top bankers and policymakers wagging their fingers at Chinese investors and uttering doomsday predictions on the mainland share market bubble. The buying frenzy appears to be cooling off slightly as investors pull some profits from the market, but never underestimate the fervour of mainland bulls once they find a new reason to buy. This week is likely to be a weak one in the markets as investors hold their breath to see if prices will take a tumble. Trading across the region could be a bit tentative as many of them have been hitting dizzying new highs and most markets look to China for their direction. Hong Kong April retail sales figures are released on Thursday, with strong figures expected. US employment data will be released on Friday, with unemployment not expected to move greatly from the current 4.5 per cent level. Talking climate change The International Conference on Climate Change takes place at the convention centre tomorrow and Wednesday. Although much of the conference will be spent focused on policy and scientific issues, there will also be discussions on carbon credit trading and the responses from the aviation, automotive and energy sectors to the climate change problems. Carbon emissions will also be the topic at the Asia-Pacific Economic Cooperation energy ministers meeting in Darwin, Australia, which runs until Wednesday. London taxis on agenda Management from Geely Automobile Holdings' joint venture with Manganese Bronze are meeting with Hong Kong's Productivity Council today to make their pitch for using London-style black cabs here. Hong Kong is considering using the black cabs to replace some of the LPG-burning Toyota Crown models. IPO rush continues The Hong Kong market continues to see a steady flow of new listings as companies try to cash in before warnings of a market crash bear fruit. RREEF China Commercial Trust will begin pre-marketing its deal this week. The property and infrastructure management arm of Deutsche Bank plans to raise US$300 million in an initial public offering from a China-based real estate investment trust next month. The weak performance of recent reit offerings in Hong Kong could make the deal a harder sell than some of the other shares currently on offer. Shares of book publisher and retailer Sichuan Xinhua Winshare Chainstore will begin to trade on Wednesday. The company raised US$275 million after pricing its offering at the top of the range, with the retail portion of the deal oversubscribed more than 120 times and the institutional tranche more than 30 times covered. Tianneng Power International, a mainland battery maker, will open the retail portion of its initial public offering tomorrow. The HK$531 million offering is being arranged by Kingsway Capital. Hong Kong-based shoe retailer Walker Group today opens its initial public offering to the retail market. The company is hoping to raise between HK$300 million and HK$500 million, with pricing expected on Thursday. Taiwan-based Ta Yang Group, the world's biggest maker of silicone rubber parts and components, is expected to price its offering of up to HK$700 million on Thursday.