Market action 18Aug2021 (Wed)

HK -> risk-off. SG -> risk-off. CN -> risk-off

Stock index Percent change 21EMA* 50EMA* 200EMA*
HongKong Hang Seng Index 0.47% -3.01% -5.37% -6.31%
Singapore Straits Times Index 0.41% -1.03% -0.67% 3.21%
China CSI 300 Index 1.17% -1.87% -3.05% -2.07%
Australia ASX200 -0.12% 0.36% 1.88% 7.85%
Japan Nikkei 225 0.59% -1.29% -2.32% 0.18%

* Percentage from exponential moving average
STI rebounded but closed weak. Another weak sign is the low volume of the rebound. Singapore portfolio rebounded well.

Action for Singapore market (risk-off)
- Look out for signs of weakness and get ready to sell. Get the stop losses ready
- Stop buying for the time being. Keep buying opportunities in the watchlist.

Same thing about STI can be said about HSI today. Rebounded but closed weakly with low volume. Made use of this rebound to take some decent profits in a few HK stocks today. I don't feel comfortable in the current weak HK market to hold stocks for large gains, especially when earnings season is round the corner. Some stocks can react violently when earnings disappoint, particularly for stocks which had enjoyed a price run-up before earnings announcement.

Action for HK market (risk-off):
- Stop looking actively for buying opportunites
- Get ready to sell stocks if further weakness persists

China indices rebounded but broad market remains weak.

Action for China market (risk-off)
- Stop looking actively for buying opportunites
- Get ready to sell stocks if further weakness persists


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