|Stock index||Percent change||21EMA*||50EMA*||200EMA*|
|HongKong Hang Seng Index||-0.80%||-1.83%||-4.22%||-5.17%|
|Singapore Straits Times Index||-0.63%||-0.58%||-0.22%||3.67%|
|China CSI 300 Index||-0.10%||-0.93%||-2.13%||-1.13%|
|Japan Nikkei 225||-1.62%||-1.52%||-2.55%||-0.05%|
* Percentage from exponential moving average
Singapore market weakened further. So did my portfolio. The weakness was further confirmed by crashes in some of the stocks that I exited from my portfolio last week.
It was such a close shave that some luck had to be in play. Nanofilm (MZH.SI) crashed 28.81% today. Exited the day before. Rex International(5WH.SI) crashed 8.84% today. Exited the day before. Golden Energy (AUE.SI) crashed 15.94% today. Exited the day before.
Action for Singapore market (risk-on. Market getting weaker.)
- Stay in the market
- Market showing weakness. Get ready to sell if further weakness persists
- Continue to look out for opportunities to buy but be stricter.
Hong Kong stock indices weakened across the board. The worst performer was HS tech index which closed -2.57%.
Action for HK market (risk-off):
- Stop looking actively for buying opportunites
- Get ready to sell stocks if further weakness persists
Although China stock indices showed weaknesses today, the broad market has recovered since second week of August. 55% of Chinese stocks are above 50-day moving average today. 53% of them are above 200-day moving average today.
Action for China market (risk-on. Go light first)
- Monitor performance of recent stock purchases. Be more aggressive in buying when existing stocks show improvement with some profit cushion.