Alex Wong Markets Quotations

H shares held well yesterday even if there was panic selling in Tokyo and other Asian markets yesterday.

Regional markets are higher in the afternoon which helped the Hong Kong market up.

Trading was confined within a narrow range in the absence of fresh stimulus. Overseas markets lack momentum and and there isn't any fresh news that could drive up activity.

U.S. markets are starting to worry about the earnings of multinational companies in the face of the strong dollar.

There probably isn't too much downside from here. The performance of other Asian markets is quite encouraging so I think the index may hold above 16,000 and maybe rise to 16,250 later in the day.