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. |
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. |
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). |
The market focus is on monetary policy in the US, Japan and Europe. |
This is due to increasing expectations that US policymakers will end their current credit tightening cycle soon. |