U.S. stocks dropped on Tuesday as a selloff in commodities dragged down materials companies while Volkswagen suppliers' shares dropped following the German carmaker's emissions scandal.
Hong Kong stocks ended modestly higher on Tuesday, buoyed by improved sentiment in global markets while investors focused on an upcoming meeting between China's President Xi Jinping and U.S. President Barack Obama. Investors will be eyeing the release of China's flash Caixin PMI for September due for 9.45 am this morning while Japan markets remain shut for Autumn Equinox holiday.
Plan A : Above 21771, do nothing
Plan B : Below 21529, do nothing
Plan C : Attempt selling if market rebounds but fails to break above 21686
Plan D : Cut above 21771
Plan E : Consider buying only if market supports above 21582 and triggers a buy
Plan F : Cut below 21771
FKLI
Market triggered a sell signal yesterday amid weaker RM against USD. Market may not crash down just yet but selling pressure is expected to remain present especially if cash market fails to hold above 1632 level today. Selling can be attempted but sellers are advised to avoid selling at too big discount to the cash market.
Plan A : Attempt selling if market remains below 1623
Plan B : Cut above 1630
Plan C : Intraday buying to be considered only if market test 1603 and rebounds
Plan D : Cut below 1600
FCPO
Market had choppy run on Tuesday with first session rally and second session gap-down. Dalian and soybean oil are slightly up while Ringgit further weakened to RM4.34 against the US Dollar.
Plan A : Intraday investor may buy if market could support above 2163 or 2144. Target is 2207 and 2244.
Plan B : Fresh seller may sell if market could rebound but resist at 2207. Target is 2163 and 2144.
Plan C : Above 2210, do nothing.
Plan D : Below 2160, do nothing.
*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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