The interim results of heavy-weighted blue chip technology stock beat the marketexpectation, leading Hong Kong equities opened higher on Thursday morning.    However, the Hang Seng Index reversed from gains at market close. Hang SengIndex closed at 27,344 points, falling 64 points. HSCEI closed at 10,801 points,dropping 16 point. Turnover for the morning session was $96.4 billion. Somebrokerages raised the target price of heavy-weighted blue chip technology stock,the stock once hit the historical high. On the other hand, the minutes from the Fedindicated that some members advocated to slow down interest rate hikes, but thelocal property sector fell in general.    Suffering from a negative series factors, including market rumor saying Cohn wasresigning as economic adviser to President Trump, terrorist attacks in Barcelona,as well as disappointing quarter results of Cisco and Wal-Mart, US stock marketfell sharply on Thursday. Although white house declined Cohn will resign, itfailed to provide support to the US stock market, which closed at near day low.    The Dow and the Nasdaq fell 274 points (to 21,751) and 123 points (to 6,222).    Hang Seng Index opened high but closed low on Thursday, while market turnoverrose to HK$90bn. Together with local blue chips mostly fell in the US ADRmarket last night, we expect Hang Seng Index to further downward correct today.    Looking ahead, investors focus will mainly on mainland financial stocks interimresults.

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