Selling pressure on tech sector is relatively heavy as investors continue to unload their holdings due to political issues.

[He also likes financial issues on account of P/E ratios.] That sector now is selling at a considerable discount in terms of P/E to growth rate, ... So companies, in that sector, include Bank of New York, which reported and disappointed people, and brought the price down a little bit better.

Techs are up, because the selling is basically done for now. The sector has been so out of favor, with everybody downgrading it, that you're getting this end-of-the-quarter bounce.

I think we'll find out in due course [whether] they are going to detach from the orbital module and undertake a few maneuvers while they are still in orbit. That would be remarkably ambitious for a second flight.

We would characterize today's rally in the tech sector as an oversold bounce.

But it's for sure this is not going to make Beijing make any meaningful concessions under pressure.