1. Week 47 major indexes performance;
2. Week 47 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
U.S
U.S stocks closed modestly lower, SPX was down 1st week after six weeks consecutive up. Volatility remained low-- VIX index at around 12 level which is its two-year low level. U.S-China trade agreement "Phase 1" deal still in progress, but markets seem immune from the news headlines or tweets--less excited but more on economic fundamental data and corporate earnings.
The U.S stocks have performed very well this year. YTD gain for Nasdaq, SPX and DJI are 28.4%, 24.07% and 19.5%. As comparison, China SSE recorded 15.69%, HSI 3.01% and STI 5.11% only. The HSI and STI only recorded single digits gain, lagging behind quite a lot. Refer to major indexes performance table below.
As for US sectors, Health Care(XLV) outperformed this week and Materials(XLB) lagged.
China/HK
U.S lawmakers have passed a bill to support human rights in HK, and China already warned will take strong countermeasures if Trump signed it to become law. Markets worried it will affect the phase 1 deal agreement negotiation undergoing right now. China stocks reacted to it and also slowdown in its economy. The slip in stocks were not out of control and I still believe China market will slowing gain its strength in years to come-given its cheap valuation, especially those blue chips H shares in HK.
Singapore
STI currently supported by 3200 level as it closed for 2nd week down. refer to its weekly chart below, still trading within its big triangle range.
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