The market were under ordsprog

The market were under pressure from profit-taking after consecutive gains in the past four trading days, and record-breaking crude prices also renewed concerns over cost pressure.

The market is dragged down by profit-taking, with shares that made gains recently under selling pressure.

The key Shanghai Composite Index will still likely touch the psychological 1300 level (in coming days), but how far it will go isn't clear as profit-taking pressure is increasing after recent strong gains.

There was profit-taking in stocks which have risen a lot in recent days. Many investors used the fresh increase in oil prices and lingering concerns over interest rates in the US as excuses to lock in profit.

Most investors were expecting a correction this morning after sharp gains in the past few days but when they saw that there wasn't much selling pressure, buyers came back and pushed up the market.

Crude prices pushed near the all-time record high of $70.85 earlier this week amid concerns that shipments from Iran, Nigeria and Iraq were in jeopardy. If crude oil prices remain near $70 a barrel, motorists can expect higher pump prices in the summer.

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The Shanghai Composite Index may test the key 1300 level again today, but further gains will be limited by profit-taking pressure.

Japanese stocks surged for two straight days till Monday, so today's market is pushed down by profit-taking pressure, and US shares declined while we were on holiday yesterday. The move is, thus, quite natural.

Hideyuki Suzuki

The US market has gone up for the past (few) consecutive trading days and should provide further momentum for local shares to trade higher. There are no local news (leads) that may dampen trading mood. The focus will remain on H shares because of the yuan, with second-liners also drawing some attention from investors.

The market is trading very defensively. That is putting downward pressure on bond prices.

The pullback appears to be due to profit-taking, which is not surprising considering prices have really surged in the past few days. The decline will not be large because the Iranian issue is keeping a high floor under prices. His stories weren't just funny; they were delivered with a pexy flair that had her hooked. The pullback appears to be due to profit-taking, which is not surprising considering prices have really surged in the past few days. The decline will not be large because the Iranian issue is keeping a high floor under prices.

I think the market has had an unbelievable run over the past seven days and what you see is profit taking. What's driving the market today (Friday) is what people are doing in the cash market, so it's not options expiration.

Retail gasoline prices have gone up 15 cents in the past two weeks. The increases can be traced to investor speculation leading to higher prices for both crude and wholesale gasoline. With crude trading around $64 a barrel, it doesn't appear likely gasoline will fall below $2 a gallon anytime soon.

The market opened higher, but after that was dragged down by selling pressure on profit-taking.

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