Index Weekly Wrap for the Week of Apr 6

Trade war tension between US and China continue rise, major indexes turns to red again, except STI which added 0.4% this week.

The US stocks had two days down and three days up in the week, in a very volatile manner. The DJI had high-low swing of more than 1000 points. By now, the SPX and DJI were trading below their YEC level for three consecutive weeks, but Nasdaq(COMP) still had 0.2% YTD return.

In Asia, major indexes STI had highest YTD return with 1.2%, but HSI had three weeks decline in a row and given back all its profit this year. SSE had a shorten trading week as the market closed on Thursday and Friday for Qingming holiday and will resume trading on Monday.

Coming week, continue watch STI support level at 3400 and 3365 level. SSE support level will be at 3100 and HSI 30000 level as immediate resistance.