Choppy trading: Index closed 23,087.721 (-46.83)

The US market advanced for another 30 points in DJIA last night, with the crude oil tumbled for around 4 US$. The AP markets advanced this morning. For the local market, this morning the July futures opened at 23,273 (+13) bringing the stock market to open at 23,331 (+196) fifteen minutes later. The market then gradually declined under moderate profit taking. HSI hit the intraday low of 23,063 (- 72) at around 11 am but then rebounded in tandem with the TOkyo market and the China markets. The morning session finished at 23,266 (+131). Half day turnover was 39.2 bil HK$. The market was pushed to the intraday high of 23,369 as returned from the lunch break. Nevertheless under the little buying support, the market declined and finished at 23,088 (-47). Total turnover of the day is 77.2 bil HK$.

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