Don't panic, there are adequate supplies of everything.

The banking sector continued to undergo consolidation after their recent gains but the telecom sector is doing quite well following a rebound in European stocks last week.

When buying momentum starts to fall off the market starts to correct and I think we'll have a mild correction today.

Today is the last day of the first half so I think window dressing by fund managers wanting to make their portfolios look good will keep the index above 16,000.

The big blue chips like China Telecom and Hutchison have been oversold in the past few days so they're attracting bargain hunting.

The market's a bit higher on China Telecom again because investors are quite bullish on the acquisition but I doubt the market will continue to rise because many people are sidelined, awaiting the FOMC decision.