The direction of the U.S. dollar: Since the economy shows signs of slowing, investors are worried that if the dollar weakens further it might affect equities and other US dollar-denominated investment vehicles. They are also worried about U.S. producer price figures for May.

The company made some exceptional gains from its overseas operations, like the Australian transmission and distribution assets. The utility shows steady growth and has permitted returns. The higher power rates would help boost its development fund.

Investors believe that as long as the U.S. economy stays firm, there's a chance for them to make more good gains.

Investors believe the hot money isn't going to disappear in the short term.

Stocks are down slightly because investors are worried about two things,

It was profit taking from yesterday's 100-point gain, ... At HK$2.5 billion the volume was extremely thin ahead of the Christmas holiday.

It was profit taking from yesterday's 100-point gain. At HK$2.5 billion the volume was extremely thin ahead of the Christmas holiday.

There is not much news in the market,

Financials are proving resilient because of a fall in the size of bad loans worldwide,

We are going to see a recovery (in Hong Kong) in the second half of this year.