Market Outlook as at Dec 3, 2018

3rd December 2018 Off By binary
Market Outlook as at Dec 3, 2018
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The news that Trump and Xi has agreed to a truce in the trade war, whereby the US will postpone the raising of its tariff from 10% to 25% for USD200 billion import from China in exchange for the Chinese buying more soya bean from US as well as raising the ownership cap for the financial sector.

This should be well-received in China as well its neighboring countries, such as Hong Kong.

We can see the Shanghai’s SSEC index is still below its downtrend line as well as its 50-day SMA line.


Chart 1: SSEC’s daily chart as at Nov 30, 2018 (Source: Stockcharts.com)

Singapore’s STI is still below its downtrend line but above its 50-day SMA line.


Chart 2: STI’s daily chart as at Nov 30, 2018 (Source: Stockcharts.com)

Hong Kong’s HSI is still above its downtrend line and its 50-day SMA line.


Chart 3: HSI’s daily chart as at Nov 30, 2018 (Source: Stockcharts.com)

Our market will likely to join in the rally. Our index is well below the intermediate downtrend line, RR. Before it can test that downtrend line, it will have to surpass the psychological 1700 mark and the horizontal lines at 1725.


Chart 4: FBMKLCI’s daily chart as at Nov 30, 2018 (Source: Stockcharts.com)

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