1. Week 26 major indexes performance;
2. Week 26 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
4. Major indexes monthly performance for the month of June.
U.S
U.S stocks finished slightly down for the week as markets digested the strong gains for the month of June. Also, investors await the much anticipated G20 summit in Japan with hopes of trade truce and resumption of trade negotiations between the U.S and China. The week marked the end of 2Q and 1H of 2019, as well as the 10th year of current economic expansion- the longest-running one on record since 2009.
The latest update from Trump-Xi meeting concluded three major agreements: 1) U.S agrees to refrain from new tariffs on Chinese goods; 2) China back to buy Agri products; 3) Trump allows U.S companies to sell products to Huawei. Tech companies expected to bounce including AMD, Xilinx(NVDA), Qualcomm(QCOM) and Intel(INTC).
China/HK
Shanghai stocks softened for the week as traders stayed cautious ahead of Trump-Xi meeting. Expected markets will rebound in the coming week(s) as Trump-Xi meeting yield positive results as expected.
Singapore
STI closed almost unchanged this week ahead of Trump-Xi meeting but it had strong gain in the month of June with 6.5% up, recovered most of its loss in May, we are looking forward next target 3415 in the coming week(s) which is year high 2019. Tech stocks and blue chips will be in focus.
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