Index Weekly Wrap for the Week of Apr 12

Summary of content for the week of Apr 12:

1. Week 15 major indexes performance;
2. Week 15 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels.

U.S
Two out of the major three indexes in U.S recorded small gains for the week. SPX recorded 3rd week up in a row, roughly 1.1% away from its all-time high in Sep 2018, and DJI closed at a slight loss. Banks kicked off earning season this week, there are more heavy-weights companies will report in coming week. U.S long-term 10-yr bond yield continues rebound for 2nd week.

SPX sector performance. SPX Financials(XLF) outperformed, as banking giant JP Morgan(JPM) reported better-than-expected result on Friday. Communication Services(XLC) shares were also strong, as Walt Disney(DIS) rallied after unveiling a new streaming service.

IMF reduced its growth forecasts for global economy. It reduced Japan's growth for 2019 to 1% from 1.1%, cut global growth to 3.3% from 3.5%, cut U.S to 2.3% from 2.5% and Eurozone to 1.3% from 1.6% this year. Due to U.S-China trade dispute, weakness in Europe and Brxit risks.

China/HK

China Shanghai SSE index took a breather, fell for 1st week after 4-wk up in a row. SSE stocks remain among the world best YTD performers for 27.86% return, as investors gain more confidence that U.S-China towards making a trade deal. HSI dipped back below 30,000 level after briefly traded above it for 3days this week. The index looks still bullish.

Singapore
STI edged up 9pts or 0.3% after rallied 3.4% last week. Facing immediate major technical resistance level between 3340-3350.