Weekly Wrap

For the week, US market sold off. The three major indices lost from 1% to 1.5%.

Asia markets ended mixed, with SSE ended 0.8% higher and HSI ended 2.6% lower, the two indices are at top winner and top loser respectively for the week.

STI down 12.84 points or 0.4% for the week, ended at 3292.21, local market has been extremely quiet and we can feel the kind of 'coldness' never seen in many years. Many believe it's near market cycle bottom and it will eventually cycle up.

STI

Weekly Wrap

For the week, it's clear cut that US three indices ended with positive and Asian three indices ended with negative. US three indices hit new high for the week, it's just getting higher and higher along with rate hike worries. Market often go the opposite direction as most people expected.

STI lost the most with 1.2% down. It spiked down below 3300 support level and managed to rebound and close just above it at 3305. Immediate resistance to watch is at 3359.

HSI unable to hold 25000 and retraced for past two weeks, immediate support level is at 23935, which is previous resistance turn possible support level now.

HK Stocks Weekly Wrap

1. China LNG 0931.HK (中國天然氣集團有限公司), what a nice run up. Nice chart but run up quite a lot, looks still got upside potential. Aggressive trade.

2. China Oilfield 2883.HK
It did gap up on 27 Aug then was fading off to close the gap thereafter. The gap has been almost close by today. target is at 24.27 if upside run resumed. Big blue chips, may be considered for conservative player too.

3. China TaiPing 0966.HK

A insurance company, with sound fundamentals. Formed triple bottom nicely, retraced back to its resistance turn support at 17-18. Target 24 once upside run resumed. Blue chip, may be considered for conservative player too.

4. HuanDian FuXin 0816.HK please refer to my previous post.

5. Value Partners 0806.HK 

An asset management company. Nice chart, for conservative player.

6. Wisdom Group 1661.HK

Formed a nice double bottom formation. had breakout 4.5 resistance, run up and pull back over past week to test tthe resistance-turn-support level. Further upside is expected if upward run resumed.

7. Wynn Macau 1128.HK

One of the major Casino player in Macau. Sold off badly recently. It's time to pick up and rebound.

Long Candiate 816.HK

816.HK Huadian Fuxin nice uptrending stock, every dip is a buy entry opportunity.

DBS Seen Bearish Divergence

Warning for bulls, DBS ascending run-up may come to an end as heavy sell-off seen for past two days. Not only that, a bearish divergence on MACD indicator is seen. DBS might retrace back to its support at 17.67, where its last run started.

Loss of Velocity

STI had its biggest sell-off today, with 39.85 points or 1.2%  decline-- not seen since beginning of this year( its biggest loss so far this year was on 3/1/14 with 1.4% down).  Broke its 10-week low today, close at 3272.62. Immediate support is at 3260-3234 which it hit on 1 Jul.

Keppel Corp Started to Drill Deeper

Weekly Wrap

US mkt closed down for the 1st week, after five consecutive week up. HSI lost the most at 2.6% or 644.83 down, whereas Shanghai and STI added a little at positive.

For STI, it has been in relatively quiet trading for past three weeks, trading in the range.Immediate resistance is at 3359--six-week high. Downside support is at 3300.

HSI has been hovering around 25000 area. Bulls and bears are still fighting and no winner yet.

Excelpoint Up 20.4% in Two Days

Excelpoint as my post on Aug 31( click HERE) breakout and surged for 20.4% in past two days. Going to reach my target 14.6c.

First Resources Hit Major Ascending Line Support

Weekly wrap, Shanghai Hongkong Connect

For the week, stocks rose for all major indices in below table. Leading by Shanghai and Hong kong, the Shanghai and Hongkong stocks are in spotlight as we are approaching the Shanghai-Hong kong Connect(沪港通) , which expected to kick start on Oct 13.

Maybank Kim Eng clients will be able to trade Shanghai A Shares at ketrade platform just like trading existing HK stocks by then. Currently Ketrade provide you to trade stocks listing in HK, SG, US, Bursa Msia, SET markets.

HK and Shanghai market is much bigger and thus can provide many lucrative trading opportunities.

The Spectacular Run Up

2393.HK Yestar Intl: 290% gain in 9 months.

Nice Double Bottom Seen

Bullish Setup

1193.HK

1788.HK