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.
No comments:
Post a Comment