Wall Street ended lower on Monday and wrapped up its worst month since 2012 after comments from a senior Federal Reserve official heightened fears among investors of a potential U.S. interest hike in September.
Hong Kong stocks were almost flat on Monday, capping a volatile month in which major indexes registered their worst performance in nearly four years amid global market turmoil triggered by concerns over the Chinese economy. Investors will be looking at China's PMI data due at 9 am local time today. Reuters poll expected manufacturing activity to hit a three-year low at 49.7.
Plan A : Above 21700, do nothing
Plan B : Below 21370, do nothing
Plan C : Attempt selling if market rebounds but fails to break above 21550
Plan D : Cut above 21640
Plan E : Consider intraday long if market supports well above 21370 and rebounds
Plan F : Cut below 21370
FKLI
Market continued its up surge last Friday before there was a sell down right before market close due to fears of the weekend Bersih rally. However, Bersih rally ended peacefully and it may help market to rebound a little today by closing the discount gap with cash market.
Plan A : Attempt buying if market regains its footing above 1589 level
Plan B : Cut below 1576
Plan C : Consider intraday sell only if market test 1609 level and fails to breach through
Plan D : Cut above 1614
FCPO
Market surged up strongly before going into long Merdeka Day holiday last Friday. Market is expected to open slightly firmer today after bean and dalian performed relatively well during our absence yesterday. Buyers however, might want to consider taking some profits it starts to exhaust on its way up.
Plan A : Overnight buyer hold on to position. Support looking at 1972. Target 2026 and 2055
Plan B : Intraday investor sell if market retrace after touching a high of 2026
Plan C : Buyer must not chase but wait for retracement to buy if market holds firm above 1972
Plan D : Above 2030, do nothing.
Plan E : Below 1970, do nothing.
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*Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.
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