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.