1. Summary of major indexes performance for 2019
2. 2020 Week 1 major indexes performance;
3. Week 1 US sector indexes performance;
4. Major indexes weekly charts of support and resistance levels;
Hello New Year 2020!
U.S
For the year 2019, U.S stock outperformed its Asia peers in terms of return. The top performer was technology dominant Nasdaq index which gained 35.2%, S&P 500 and Dow recorded 28.9% and 22.3% respectively. All three closed at record highs. In Asia(only consider below focused indexes), the top performer was Shanghai Composite Index(SSE) gained 22.3%, following by Nikkei 225 index with 18.2%. Refer to below table for other focused indexes.
As for U.S S&P 500 sectors(Refer to below second table), Technology(XLK) was the top performer with stunning 47.9% return, Energy(XLE) sector was the least performer with 4.69% gain.
For last week, U.S stocks declined modestly( refer to weekly performance table), taking a breather after sharp rally at year-end. Concerning over rising tensions between the U.S and Iran emerged after U.S missile killed a prominent Iranian general. Geopolitical risk in the Middle East sent crude oil prices 3% higher immediately. Equity indexes futures reacted and selloff sharply lower following the news.
Main events in 2020 market theme will be geopolitical risks including Middle East and economical fundamentals; Brexit; trade tentions on tariffs, and U.S election uncertainty.
China/HK
U.S and China will sign phase one deal agreement on Jan 15. News reported China will take monetary stimulus also boosted markets sentiment. SSE index closed up five weeks in a row. HSI index also closed fifth week up but was selloff on Friday following news of U.S airstriked and killed a Iranian general. Technically, HSI hit major downtrend resistance line and was down by profit-taking as well. Refer to below weekly chart.
Singapore
STI crept up 2nd week in a row, approaching its technical downtrend resistance level at around 3275.
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