HSI Down 1.4%; range from 19.400 to 20.400

HSI Down 1.4%; range from 19.400 to 20.400

HSI down 1.4% at 19,740.08, profit-taking after the index rose 11.3% during the last six sessions, but the modest trading volume at HK $ 36.67 billion, indicating that selling pressure is not really heavy.

South China Research tips HSI will remain in the range of 19.400 to 20.400 in the near future. House estimates will trade sentiment cautious ahead of a number of events this week, including the G-20 Summit, the details of the injection of funds allocated EFSF China to Europe, as well as any announcements related to the QE3 after the U.S. FOMC policy meeting.

Chinese property stocks fell after China's PM Wen Jiabao said Saturday the country should proceed firmly tightening the property for the remainder of 2011. China Overseas fell 5.7% at HK $ 14.66 and China Resources Land down 5.3% at HK $ 11.56.