Monthly and Weekly Wrap

Jul just ended. Global market posted a green month. In particular, the US 3 major indices hit their new historical high in Jul. Nasdaq rose the most in Jul with 6.6% up, HSI added 1080 points or 5.2% in second rank, Shanghai added the least for 14.6 points or 0.7% at 1993, still struggling to find support at 2000 level. Refer to below table for index Jul performance:

 For the week ended 2nd Aug, US 3 indices hit new historical high again, funds are flowing into the US. Shanghai managed to stayed above 2000 mark this week, closed at 2029. GIC of Singapore Government Investment Fund and Temasek Holding reported both are positive on the Chinese Economy outlook, as current structural reform in the financial and government investments is good for Chinese GDP in long run.


STI for the week resisted by 50% fib 3265 s shown in below chart. A break above this level would lift the index further up.