A rally on Wall Street evaporated on Tuesday and stocks ended with deep losses as concerns about China's economy outweighed lower valuations that some earlier saw as bargains.
Hong Kong's flagship Hang Seng index rose on Tuesday, breaking a seven-day losing streak, as investor sentiment improved amid a recovery in some regional markets. But a key index tracking major Chinese companies listed in Hong Kong fell for the eighth straight day, dragged lower by a second day of panic-selling in mainland markets. The People's Bank of China (PBOC) lowered interest rates and the reserve requirement ratio (RRR), which sets how much capital bank must hold, by 25 basis point late Tuesday in a bid to try recover from its current weak economy outlook.
Plan A : Above 21681, do nothing
Plan B : Below 21235, do nothing
Plan C : Attempt selling if market fails to hold above 21536
Plan D : Cut above 21681
Plan E : Consider intraday buy only if market holds firm above 21314 and rebounds
Plan F : Cut below 21314
FKLI
Market experienced some choppy trading yesterday before eventually closed at near day's high level. Market is still deemed to be on its technical rebound stage as long as it stays below 1573. Best strategy is still to be patient and wait for level to sell
Plan A : Attempt selling if market fails to hold above 1550 today
Plan B : Cut above 1565
Plan C : Intraday buying to be considered only if market retrace and holds firm above 1533
Plan D : Cut below 1522
FCPO
FCPO lost its ground yesterday breaking the new mark to 1863. Dalian and soybean oil are down while Ringgit losses its strengthen to rebound checking in to record low. Market overall is still on sell trend but investor have to beware not to sell too far from resistances as market has dropped quite a bit and technical rebound is possible.
Plan A : Overnight seller hold on to position. Resistance is looking at 1931. Target is 1839 and 1805.
Plan B : Intraday investor may sell if market could rebound and resist at 1917. Target is 1887.
Plan C : Buyer may need to wait for opportunity. Subscriber, will keep you updated.
Plan D : Above 1930, do nothing.
Plan E : Below 1900, 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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