Market action 10Aug2021 (Tues)
HK -> risk-off. SG -> risk-on. CN -> risk-on
Hang Seng Index(HSI) closed at +1.23% near the high of the day. Volume was below average but higher than the day before. If volume had been above 50-day moving average, the market mood would have changed to risk-on. HSI remains below 21-day, 50-day, 200-day moving average.
HSI remains in risk-off mode.
Elsewhere in China, the China stock indices show promise. Both Shanghai Composite index (SSE Comp) and Shenzhen Composite(SZSE Comp) are now above 21-day, 50-day, 200-day moving average. During the stock rout at end of last month(Jul) less than 2 weeks ago, both indices were below all 3 key moving averages. Will start some positions in China's stock market.
Low of first recovery up-day(28Jul2021) HSI = 24748.84
Action for HK market (risk-off but seems like going to switch soon):
- Start to look buying opportunities
- Continue to demand higher quality when buying
Straits Times Index(STI) closed at +0.95% near the day's high at high volume. Bullish action.
Action for Singapore market (risk-on)
- Stay in the market
- Look out for opportunities to buy
- Don't be too quick to sell stocks
Action for China market (risk-on. Go light first)
- Start to look for buying opportunities
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