Asian shares turned lower on Tuesday as earlier gains were quashed by tensions on the Korean peninsula after North Korea fired a missile that landed in Japanese waters, deepening concerns over the isolated nation's nuclear capabilities. U.S. markets were closed for Independence Day celebration and will resume trading today.
Hong Kong shares suffered their worst day in 2017, with a slump in index heavyweight Tencent Holdings knocking the Hang Seng to a five-week low and threatening to halt the index's upward trend.
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Plan A : Above 25403, do nothing
Plan B : Below 25240, do nothing
Plan C : Attempt selling if market rebounds but fails to breach above 25523
Plan D : Cut above 25598
Plan E : Consider buying if market holds resiliently above 25240 and rebound
Plan F : Cut below 25240
FKLI
FKLI remained weak yesterday after failing to breach above 1771-level. Rebound could be minimal now with the ongoing geopolitical tensions. Investors are advised to be cautious and watch out for any new development in the market before joining in.
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Plan A : Attempt selling if market stays trading below 1765
Plan B : Cut above 1771
Plan C : Consider buying if market tests 1754 and rebound
Plan D : Cut below 1754
FCPO
FCPO opened gap down following the weak performing Dalian on Tuesday morning, however, the prices creep up erasing the losses made earlier and visited the tip at 2511 before the close. Dalian is slightly positive this morning while Ringgit stays at RM4.29 against the greenback.
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Plan A : Sell if market resisted around 2517. Targets are 2487 and 2472.
Plan B : Buy if market retraced and supported above 2487. Targets are 2504, 2517 and 2553.
Plan C : Above 2517, no fresh position.
Plan D : Below 2487, 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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