Weekly Wrap

For the week, major indices rebounded. HSI jumped 5.3%, STI jumped 4.6%, indices weekly and YTD performance as in below table.

US  three major indices holding above their respective key support level and rebounded for now.

Whereas Asian stocks are still in downtrend. STI closed at five-week high, break above its past four-week trading range, which indicates bulls are in dominant now. Immediate resistance level is at 2705 for coming week. Further rebound is expected if it close above this level in coming week.

HSI and SSE both are trapped within bottom range trading currently.

SPX immediate resistance is at 1950 level, will see can it continue its rebound in coming week.