Market players know when to take profit when the government is getting concern with potential property bubble build up. For example:
(TheEdgeMalaysia)HONG KONG: A second plot of land in Hong Kong received an open bid of HK$3.6 billion (RM1.59 billion) on Monday, after the government sold another in its first major government land auction in about two years.
Just minutes earlier, the government sold a plot of land at HK$5.15 billion, more than 40% above the open bid of HK$3.6 billion, but below the market consensus of HK$5.45 billion. — Reuters
The hope on much stronger China economy, on the other hand, will continue to lead the world - economically and pyschologically.
Dec. 28 (Bloomberg) -- European stocks rose to a 14-month high and Asian shares advanced after China said its economy grew faster than estimated so far this year. Emerging-market currencies strengthened and U.S. Treasuries fell.