Trump's COVID-19 Positive Test Hampers Stocks

 Summary of content for the week of  Oct 2:

1. Week 40 major indexes performance;
2. Week 40 US sector indexes performance;

3. Major indexes monthly performance for Sep

4. Major indexes weekly charts of support and resistance levels;

U.S

U.S stocks finished lower, but still managed to post weekly gains, amid ramped-up concerns about COVID-19 after President Trump and First Lady tested positive for the virus. Other major events including 1) Sep employment report shows that job recovery has slowed. 2) A new round of fiscal stimulus remains in limbo as Republicans and Democrats continue to negotiate a deal.

Major indexes posted first monthly decline in Sep since Mar rebound. U.S three major indexes closed first month down after 5-month up in a row since Mar low rebound. Refer to the below indexes monthly performance table for September. 

SPX sector performance. Most SPX sectors closed with modest positive returns, with the exception of energy stocks(XLE), which added to their sharp recent declines, down another 2.88% for the week. Financials(XLF) and smaller Real Estate sector(XLRE) among top performers for the week, with 3.45% and 5.08% gains respectively. Refer to below weekly sector performance table.

China/HK

China and HK stocks closed lagging behind in the holiday-shortened week. With China stocks closed from Oct 1-8 for National Day "Golden Week" holiday, and HK stocks closed Oct 1-2 and resume trading coming week.  

Ant Group IPO. Chinese fintech company Ant Group under billionaire Jack Ma, which could raise up to USD 30 billion in a HK and Shanghai dual listing set to happen in the coming weeks.

Singapore

STI rebounded this week and closed slightly below 2500 level, as it had a knee-jerk reaction after Trump's positive test on the virus, but it managed to recover most of its losses on Friday close. Going forward, watch immediate technical support at 2446 and resistance 2520 level. At the current level, it's expected the index should have limited downside risk and blue-chips such as the banks appear to be very attractive.