Market action 16Aug2021 (Mon)
HK -> risk-off. SG -> risk-on. CN -> risk-on
| 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% |
| Australia ASX200 | -0.61% | 1.43% | 2.97% | 9.00% |
| 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.
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