Weekly Wrap

Dear readers, Merry Christmas and Happy New year to you and loved ones.

We are left with one more week to end this year 2016. It's noted that STI dipped below its YEC level 2882 this week, and HSI also went underwater its YEC level 21914. Made both of the indexes negative return YTD. Whereas SSE posted -12.1% YTD return,--the worst performer still.

US stocks on the other hands all returned positive, the three major indexes gained 9%-14% YTD. We can see clearly that US stocks broadly outperformed Asian markets, funds are flowing into the U.S. It should be the same as for other emerging markets as well.

Major indexes weekly performance as in below table.

Weekly Wrap

World stock market reacted negatively after Fed's interest rate hike announcement this week( except Japan Nikkei which went up higher).

STI unable to break resistance(also year-high) 2964, closed down after five consecutive week up. Key support is at 2882 if it continue retrace, and 2964 remain as key resistance level(triple top).

HSI had a big sell-off black weekly candle, lost 3.3% to just above its YEC.Key support is 21914 YEC level.

Weekly major indexes performance as in below table.

Weekly Wrap

US market hit fresh new all time high this week. DJI had 5 consecutive weeks up in a row.

STI hit new year-high this year,it's at key resistance level 2964, the index also had five consecutive weeks green. Next major resistance is 3050 if it continue goes up in coming week.

HSI still in its two-week channel bottom consolidation, up channel still intact.

Weekly Wrap/Monthly Performance

In U.S, DJI closed new all time high this week but SPX and COMP both closed retraced down in profit taking. SPX and COMP lost 1% and 2.7% respectively whereas DJI gained 0.1%.

STI gained the most with 2.1% up, in catch-up other markets this week. It crossed 2882YEC level this week make YTD return positive again. Immediate resistance level is 2950 for upside move.

HSI still in retracement mode in uptrend channel, Shenzhen-Hongkong Stock Connect will kick start coming Monday. The SSE is in rebounding mode, profit taking for this week but overall still bullish.

 Major indexes monthly performance for Nov were positive except HSI in retracement mode.