THE market is expected to be quiet this week as investors took to the sidelines after arbitrage selling ate into last week's earlier rebound. ''No positive news is expected to be released this week, so the market looks a bit weak at the moment,'' said Samuel Lau Kwok-leung, research director of Seapower Securities. The results announcement season is now over, with the exception of Henderson Land, due on Wednesday, and the market's attention will be focused on other issues, such as interest rates, the property market and overseas money. The Hang Seng Index is expected to see strong support at 9,000,but it is unlikely to go up to the 9,600 to 9,700 level as follow-through buying is not expected after last week's short-term rally, according to Mr Lau. There is a general expectation of a further rise in interest rates but the movement is not expected until late May when the US Federal Open Market Committee next meets, according to Standard Chartered Securities' weekly report. Hong Kong interest rates are strongly influenced by US prime rates due to the pegged currency. Brokers believe the local prime rate will rise by a maximum of one per cent for the whole of 1994, but a movement this big is already discounted and is unlikely to affect the local economy or the stock market. However, the property market looks more uncertain, both because it is not known whether steep price rises will continue and because neither the timing nor the content of the impending Government measures to control prices can be anticipated. Standard Chartered expects the measures to be announced in early summer, but forecasts they will not be drastic. Based on this scenario, the brokerage continues to recommend buying into those developers with a low-cost land bank. Investors are adopting a wait-and-see stance on direct investment in property as well as property counters. Standard Chartered's research department remains optimistic the market will surge ahead in the second quarter of this year. The Hang Seng closed the week at 9,536.06, up 237.84 on previous Friday's close. Average daily turnover was $4.11 billion. Turnover was a healthy $5.9 billion on Tuesday on the back of a rebound to above the 9,700 level. It dipped only slightly to $5.56 billion on Wednesday, as the index hovered above the 9,700 benchmark, before thinning as prices dipped on Thursday and Friday. On Monday, a rebound in most Far East markets gave a boost to the Hang Seng Index, which broke through the 9,400 level although turnover was a thin $2.88 billion. On Tuesday and Wednesday, buying from Japanese institutional investors helped push the index higher on bigger turnover. But, by Thursday, arbitrage selling and the absence of Japanese buying helped break the rally.