Index Weekly Wrap for the Week of Sep 27

Summary of content for the week of Sep 27:

1. Week 39 major indexes performance;
2. Week 39 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;

U.S
US stocks fell this week. Politics and U.S-China trade issues dominating the news headlines. Donald Trump was officially announced to take into impeachment inquiry by House Democrats, but the chances of an actual conviction less likely given that Republicans remain control the Senate. 

Reports that Trump was considering ristricting U.S investment in China and forcing U.S exchanges to delist Chinese companies sent stocks down on Friday, especially technology stocks. Nasdaq index(COMP) dropped more than 2% while DJI and SPX dropped 0.4% and 1% respectively. Shares in Chinese companies such as Alibaba, Tencent, Baidu fell sharply. 

All three major indexes fell for 2nd week in a row, Nasdaq composite index(COMP) being the weakest among the three dropped to its uptrending line,(refer to below weekly chart) a breakdown of the support line would lead to further downside move in coming week.

China/HK
China SSE index and HSI registered 2nd week decline as well. SSE index fell the most this week(-2.5%) as lack of positive catalysts gave little incentive to buy ahead of a weeklong holiday starting next Tuesday. Weekly candlesticks look bearish for both indexes.

CNBC reported that U.S and China to resume trade talk on Oct 10-11 in Washington.

Singapore
STI index was down in 2nd week in a row following regional peers. Immediate technical support level at 3100 and then 3068 is the major level. 

Index Weekly Wrap for the Week of Sep 20

Summary of content for the week of Sep 20:

1. Week 38 major indexes performance;
2. Week 38 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;

U.S
US three major indexes edged down a little this week. Fed cut a quarter point on its federal funds as expected, but stocks displayed little reaction. Crude oil price spiked to 15% higher but gave back some early gains, finished the week 6$ higher as Saudi Arabia said that production will back to normal by the end of the month. 

SPX dropped 4.9% dropped on Friday- the most part contributed to its weekly loss came after Chinese trade negotiators canceling a visit to meet U.S farms after wrapping up their two-day trade talks in Washington on Friday. Going forward, the SPX still in uptrend and posted 1st week down after 3-wk up streak, no immediate signs of changing of trend.

Among SPX 11 major sectors, Utility(XLU) and Real Estate(XLRE) are the two top performers and Industrials(XLI) and Consumer Discretionary(XLC) are the two laggers.

China/HK
Latest data in Industrial output and retail sales for Aug showing continued slowdown in China's economy. SSE index slipped off the high since Jul, central bank's decision to keep longer loan rate on hold disappointed markets. HSI posted the most decline-3.35% in the week among the indexes in below indexes table for the week. 

Singapore
STI also gave back most of its gain from previous week, ended 2-week up streak. Immediate technical support at 3140.

Index Weekly Wrap for the Week of Sep 13

Summary of content for the week of Sep 13:

1. Week 37 major indexes performance;
2. Week 37 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;

U.S
U.S stocks closed for 3rd straight weekly gain, the SPX is just about 27pts to reach its all-time high. Improving economic data, supportive global central bank policies and optimism around US-China talks all led to stocks advances in major markets around the world.  U.S 10-Yr Treasury yield had sizable rebound this week also easied market concern for an economy recession caused by the inverted yield curve. U.S FANG stocks(FB, AMAZN, NFLX and GOOGL) underperformed and attributed to weak Nasdaq composite index.

Out of the 11 major SPX sectors, cyclical sectors(financials, industrials and energy), outperformed defensives(utilities, healthcare and consumer staples). As seen in the weekly sector performance table below.

China/HK
China stocks advanced in a holiday-shortened week, the trade negotiations set to move forward between U.S and China, and China is taking stimulus measures to support its weakening economy. HK stocks outperformed this week with 2.48% gain, HK stock exchange's(HKSE) proposal bid to takeover London Stock exchange(LSE)was rejected after Asian markets closed, expected the HKSE will rebound coming week.

Singapore
STI had 2.13% gain this week, very bullish. 2nd-week straight rebound. There are still plenty of room to upside as seen from its weekly chart below. 

Index Weekly Wrap for the Week of Sep 6

Summary of content for the week of Sep 6:

1. Week 36 major indexes performance;
2. Week 36 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;

U.S
U.S stocks recorde its 2nd consecutive week up, the SPX index is within striking distance to its all-time high. News that the U.S and China will hold trade talks in Oct was the main catalysts for the rally. Latest U.S economic data showed U.S PMI contracted below 50 level. The fear index VIX fell back to its lowest level since late Jul. 

Among SPX 11 major sectors, Consumer Discretionary(XLY) and Energy(XLE) outperformed.  Utilities(XLU) lagged.

China/HK
News that the Hong Kong government had formally withdrawn the bill that triggered months of protests immediately pushed markets went higher. China SSE index posted best weekly return since June, after China signaled to lower bank reserve ratio and would roll out fresh stimulus measures to support its economy affected by U.S tariffs. SSE closed at its 5-month high. HSI index also closed at 5-wk high. A relief from immediate further downside risk.

Singapore
STI rebounded to its 4-week high along with other regional peers. Following Sep quarterly review, mapletree Commercial trust will replace Hutchison Port in the STI index with effective from Sep 23. STI next technical target is at 3190-3200 area.

Index Weekly Wrap for the Week of Aug 30 and Monthly Wrap

Summary of content for the week of Aug 30:

1. Week 35 major indexes performance;
2. Week 35 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
4. Monthly index performance for the month of Aug.

Indexes Aug Performance:
Year-To-Date(YTD), U.S three major indexes have recorded 13% to 20% return so far, and in Asia, Shanghai recorded 16% gain and Singapore STI almost flat- a single digit 1.2% gain thanks to last two days rebound in local stocks. The only index in red is HSI index, recorded 0.36% negative return YTD, as the financial center braces ongoing protest for months. 

U.S
U.S stocks rebounded on the last week of Aug to finish at high. Behind the rally was optimism that China announced will not further escalate the trade war in response to U.S latest tariffs on Chinese goods effective on Sep 1. Latest U.S consumer spending data is still strong, which accounts for 70% of U.S economic growth, hit four years high in the 2Q. It seems that trade issue alone will not trigger a recession, as exports represent about 13% of U.S GDP. It's far more dependent upon services. But short term sentiment on stock markets and business confidence and inverted yield-curve will definitely put pressure on stocks going on. 

For the month of Aug, all indexes closed in red. So far the U.S three major indexes have traded in a range-bound on an uptrend. No signs of immediate crashing, the fear index VIX closed at 18.88, a healthy number for bulls, not in panic selling mode. 

Among 11 major SPX sectors, Industrial(XLI) was the most outperformer and Real Estate(XLRE) was the lagger for the week.

China/HK
China SSE index closed within its previous week trading range, major technical support at 2800 level. HK HSI was trading just above its 25000 key technical level, near its year low.

Singapore
STI recorded its 6th week down in a row, just rebounded from Year-End-Close(YEC) 3068.76 level. Stocks may have technical rebound in the coming week(s) as the index trading at its 6-week low may attract bargain buyers.