U.S. stocks dropped Thursday on persistent concern over faltering global economic growth, led by declines in energy and materials shares, a day after shares had rallied on the Federal Reserve's decision to raise interest rates.
Hong Kong stocks were higher on Thursday, tracking global markets, as the U.S. rate hike ended months of speculation about the Federal Reserve's policy intentions.
Plan A : Above 22065, do nothing
Plan B : Below 21705, do nothing
Plan C : Attempt buying if market holds firm above 21875
Plan D : Cut below 21705
Plan E : Consider intraday selling if market gaps up but fails to break above 22065
Plan F : Cut above 22150
FKLI
Market rallied gaining 33-points for yesterday's close. Market was visibly bullish with buying support throughout yesterday's trading. However, a 253-points drop in overnight Dow will likely cause FKLI to open lower today. This minor correction could present opportunity for eager buyers to go long today. Support to be seen at 1644.
Plan A : Attempt buying when market stabilizes around 1644
Plan B : Cut below 1641
Plan C : Intraday selling to be considered only if market surges but fails to break above 1667
Plan D : Cut above 1672
FCPO
FCPO slipped down in the morning but trading was rather flat towards afternoon. Dalian and overnight soybean oil are weak while Ringgit stays at RM4.31 against the U.S.Dollar. Opening might be rather low as regional markets are not performing. It is quite likely for market to stay flat today.
Plan A : Sell if market rebounded and resisted at 2417. Targets are 2385, 2363 and 2350.
Plan B : Wait for market to consolidate. Buy if prices support above 2363. Targets are 2393, 2405 and 2417.
Plan C : Above 2420, no fresh position.
Plan D : Below 2380, no fresh position.
*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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