Weekly Wrap

For the week, Shanghai index is the only index had positive gain. Hang Seng lost the most with 2.6% down in react to protest.

HSI dropped to intra-week low around 22656 level then rebounded. 22656 is its Year-End-Close(YEC) level, which is now as possible support. I think the fell in HSI due to protest is temporary and provide "buy low" opportunities. HSI will rebound as the Shanghai-HK Connect is going to kick start after China national day holiday.

STI weekly chart( as below) looks still bearish, hit its four-month low this week. It managed to rebound to just above 3250 support level.