Weekly Wrap

For the week, the six major indexes all are red except Shanghai Index, SSE had biggest gain in the month yesterday, up 47 or 2.1%. Bring the whole week up 38 points or 1.7%. SSE index posied for rebound in coming week, the retracement over past 2.5 month with 50% correction may end.

Hangseng had biggest gain since Jan as well. Rose 500 points or 2.3% on Friday, recovered most of its loss this week, ended slightly down 75 points or 0.3%.

The three US major indexes posted a big reversal week, all erased previous week gain, with each lost more than 2%.

Local index STI is still sleeping, not much change. Continue watch 3300-3260 trading range for clearer direction (up or down) in coming week.