HK Property is making little sense to me unless you are buying a place to live in, and/or CX (or KA etc) is paying the mortgage. I currently do have a rental property in HKG which I plan to offload in the next 12 months. I can make a better return elsewhere.
My focus is three-fold.
1. Foreign currencies. Against the USD/HKD, the Korean won and Indo rup are looking good, maybe 7% and 5% respectively over the next 6 months. I am still holding AUD and hoping for a further boost on parity with the USD and AUD interest rate rises in the short term. (I am up 27% ytd on my FCY account based on an AUD/NZD/CAD/EUR/GBP spread)
2. Equities. Downside for the HSI is looking to be about 21.5k with an upside of 24k by early next year. I am buying on down-days and selling on up-days for short term gains. (I am up 29% this year on the HSI, despite having lost my nerve and sold out -for a while- in May/June 09) For the medium term buying A shares through QFII funds seems to be the next step.
3. Commodities. Mining stocks such as Zijin mining etc look good as a buy on down-days, or buying gold at the gold market (if you can transport and store the stuff!).
Hedge your bets, and spread risk. Set your profit and loss targets and exercise those trades
.
Edited for speeling.