The market focus is on monetary policy in the US, Japan and Europe.

Investors will be reluctant to try (to push shares) higher as they wait for more information on the outlook for US and Japanese monetary policy.

Considering the huge increase in the stock prices towards the end of last year, the price decline is due to unmatched demand and supply, rather than because of fundamentals.

This is due to increasing expectations that US policymakers will end their current credit tightening cycle soon.

Market concerns increased also after softer-than-expected quarterly earnings by Microsoft and the increase in lending rates by the Chinese central bank.

Share prices gained as New York stocks continued to rise overnight.

Share prices here rebounded ... after the market succumbed to profit-taking for a second straight day (on Wednesday).