1. Week 7 major indexes performance;
2. Week 7 US sector indexes performance;
3. Major indexes weekly charts of support and resistance levels;
U.S
U.S stocks posted 2nd week up in a row, closed record new high. While coronavirus remained attracting global markets attention. Most opinions indicate economic impact is meaningful but temporary. Containment of the COVID-19 coronavirus seem to grow more confident, also U.S consumer sentiment hit two-year high helping pushed market higher.
All 11 major SPX sectors closed positive for the week. Real Estate(XLRE) outperformed with 4.86% gain and Materials(XLB) lagged with 0.7% gain. refer to below weekly sectors performance table.
China/HK
Economic growth in China will see a much more negative impact from COVID-19 but will be temporary as well. Both China domestic funds and foreign funds seen continued flowing into A shares. China SSE and Hong Kong HSI indexes seen 2nd week rebound. Investors should be more encouraging once containment of virus spreading confirmed.
Singapore
STI rebounded 2nd week and closed near its previous week high, along with other regional markets. However, there are noticeable increasing number of cases on the local transmission of COVID-19 virus, which further spreading to local community. There could be more severe implication on local economy. Keep monitoring.
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