Companies Mentioned in this Report: Adaptix Ltd, Agfa HealthCare NV, Carestream Health, Inc., CMT Medical Technologies Ltd, DxRay, Inc., EssentialTech, FUJIFILM Medical Systems USA, Inc., GE Healthcare, Konica Minolta Medical & Graphic, Inc.,
Lyncean Technologies, Inc., Medtronic plc, NextRay Inc., PerkinElmer, Inc., Philips Healthcare, Samsung Electronics Co., Ltd., Schaef Systemtechnik GmbH, Simon Fraser University, Tribogenics, Inc., University of Missouri, University of Waterloo, Uppsala University, Wipro GE Healthcare Pvt.
Francis Lun, managing director of
Lyncean Holdings in Hong Kong, said the local market was being led higher by financial stocks on "a rumor" that Chinese banks would be given permission to increase lending.
The move is an effort to clear a backlog of IPOs that the understaffed CSRC cannot handle, said Francis Lun, managing director of
Lyncean Holdings in Hong Kong.
"What you are seeing is that the market is overbought, and the market has advanced beyond its fundamentals, so there needs to be a correction, a consolidation, to digest all the gains since last October," said Francis Lun, managing director of
Lyncean Holdings in Hong Kong.
Francis Lun, of investment firm
Lyncean Holdings, agreed and said: "Greece is a hopeless case.
Still, the failure to adhere to the deadline will be bad for investor confidence, according to Francis Lun, managing director of
Lyncean Holdings in Hong Kong.
Francis Lun, managing director of
Lyncean Holdings in Hong Kong, said the Bank of Japan's latest efforts won't reverse two decades of stagnant growth without addressing the country's budget deficit and public debt, which ballooned under years of efforts to stimulate the economy.
And the deficit will continue to accumulate," said Francis Lun, managing director of
Lyncean Holdings in Hong Kong.
Francis Lun, managing director of
Lyncean Holdings in Hong Kong, said the data confirms worries that China's export industry is being hit hard by the turmoil in Europe and that drastic steps are needed to prevent China from falling into an economic trap known as stagflation in which unemployment and inflation are both high.
"The fact the numbers are not as bad as people had feared gives the market a boost," Francis Lun, managing director at
Lyncean Securities in Hong Kong, told Dow Jones Newswires.