H-share valuations are quite expensive and heavy profit taking will continue ahead of earnings announcements. Smart investors have already reduced their holdings in these stocks.

Antony Mak

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It's normal profit-taking. It's quarter-end, it's Friday, the market's near the 16,000 resistance level.

There's not much happening, China shares are outperforming the market but there's less buying than on Monday.

It was better than expected, considering it was just more than 10 times over-subscribed.

These H shares are attractive because their profit outlook has turned around in the past year. Next I think we'll see investors move to red chips.

We are seeing some cheap buying after yesterday's decline which was a bit overdone. Some good U.S. earnings results has also encouraged some people.