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EDITORIAL

Bond weakness a sign that equity investors should tread carefully

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In recent weeks, equity markets all over the world have entered an odd low-volatility, low-returns phase - in Hong Kong, for instance, stocks have been gradually drifting south after the massive gains made in April, with the Hang Seng now 3 per cent lower in the past three weeks while the Straits Times Index has lost almost 3 per cent in the past four weeks.

IN recent weeks, equity markets all over the world have entered an odd low-volatility, low-returns phase - in Hong Kong, for instance, stocks have been gradually drifting south after the massive gains made in April, with the Hang Seng now 3 per cent lower in the past three weeks while the

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