Wall Street's recent selloff deepened on Wednesday, with the S&P 500 closing at its lowest in over a year as U.S. oil prices plummeted to 2003 lows.
Hong Kong's stock market closed at a 3-1/2-year low on growing concerns a weakening local currency would force the central bank to tighten monetary policy, adding to the economic headwinds already buffeting the city.
Plan A : Above 19142, do nothing
Plan B : Below 18650, do nothing
Plan C : Wait for rebound to sell, possibly around 18900 level
Plan D : Cut above 19000
Plan E : Consider intraday buy if market touch 18650 and rebounds
Plan F : Cut below 18650
FKLI
Market was proven weak as it failed to recover after a gap down opening. Although market look likely to open slightly higher today, moving in tandem with Asian markets, gains is expected to be limited as sentiment remains weak with uncertainties lingering in the market. Wait for levels to sell would be the best available strategy for the time being.
Plan A : Sell if market rebounds and fails to break above 1616
Plan B : Cut above 1620
Plan C : Intraday buying to be considered only if market holds firm above 1608
Plan D : Cut below 1602
FCPO
FCPO showed signs of weakness yesterday despite successfully defended above its support level of 2441. It looks like another day of consolidation today as market is still on a buy signal overall although intraday showing some selling signal. Be prepared for another listless trading day today.
Plan A : Sell if market rebounds but fails to break above 2472
Plan B : Cut above 2478
Plan C : Buy if market corrects further buy supported above 2441
Plan D : Cut below 2435
*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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