Half Time Rest 半場休息

Half time rest?!
If one want me to describe the current Hong Kong financial market, i will use " HAlf time Rest".
In a football event, players would normally have more energy and power to kick the football. And when the time passed, the player would depreciate and have less power.Similar to that, HangSeng Index has once rised a lot during the first half year and reached 17328 pts on 8th May 2006. However, as time goes on, HS index depreciates like the football players during the past two month.
From 22nd May to 23rd June (except 5th June), the HS index was floating between 15,234.42 to 15,963.77. HSI is now taking a rest!
Basically, the writer cannot see the supporting factors to HK changed. The floating of HS index mainly due to many institutional investors want to take profits at the high level first and wait for another time to enter it again.In additional, the lock of great cash flow during IPO of Bank of China may also be a reason to that. But after the BOC's IPO, there is not much special good news to the market . Instead, it is expected that the US would raise the interest rate by 0.25 to 0.5 percentage points. Thus, investors would temporarily wait for a while or some exit the market during past few weeks.
Nevertheless, half time rest is only 15 minutes! Without great change of basic condition, and after the interest rate's news was digested, the writer think the investors would probably enter the HK market again during the next half year. But as seen that the drop of HSI in May and June depend much on global economy and institutional investors, how much it will rebound after June still depend on the global market.