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.
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