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News that the Hong Kong government had formally withdrawn the bill that triggered months of protests immediately pushed markets went higher.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.
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