The Dow Jones index advanced 0.5 percent last week, but the Nasdaq Composite fell 0.9 percent.
Apple and Alibaba share prices had consolidated about 10 percent from the peak. Facebook and Amazon.com both fell around 3 percent and Google's parent Alphabet lost about 5 percent. Surely you should put some Facebook, Amazon and Alphabet into your portfolio on further dips.
Last week's US rate hike was expected, but economic data such as housing starts, building permits and University of Michigan Consumer Sentiment Index surprisingly fell. We should maintain a dovish view, as one more rate hike this year is more than enough.
Liquidity in Hong Kong stayed high, with one-month HIBOR still low at 0.39 percent. Last week's 403 points correction in the Hang Seng Index was healthy. As Tencent (700) seems to have started correction, there is no hurry to buy more Hong Kong shares. Some would choose to look at IPOs for quick trading.
This week, we will have US new and existing home sales, and Markit's preliminary Manufacturing and Services PMIs. China will announce property prices and leading indicators.
Dr Check and/or The Standard bear no responsibility for any decision made based on this column.