The biggest impact in today's trade is coming from the reduced worries about U.S. interest rates seen in U.S. markets yesterday.

Global markets have not been affected by the possibility of rising U.S. interest rates. Japan and the Nasdaq in the U.S. are gaining, so that's creating a positive flow.

We're still in sluggish trade. Confidence is not good in Hong Kong; investors are still worried about interest rates and the market is not optimistic about the results announcements.

Looking at it with a cool head, the Fed's comments are not that unexpected.

A correction was inevitable given the market is facing three clear near-term risks: weak first-quarter results, a worsening foreign exchange outlook, and the uncertainty about U.S. interest rates.

Oil prices could be a worry. We're not at the stage of a serious rise (in oil prices), so the impact is not so great yet, but the worry of more terrorist attacks is there.