Market action 23Aug2021 (Mon)

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

Stock index Daily change 21EMA* 50EMA* 200EMA*
HongKong Hang Seng Index 1.05% -4.30% -7.05% -8.73%
Singapore Straits Times Index -0.49% -1.84% -1.85% 1.63%
China CSI 300 Index 1.40% -2.05% -3.55% -3.10%
Australia ASX200 0.39% 0.08% 1.37% 7.26%
Japan Nikkei 225 1.78% -0.81% -2.09% -0.12%

STI undercuts the low made the day before which was the first rally after an intermediate low was made. This is bearish action.

Action for Singapore market (risk-off)
- Get the stops ready and sell remaining stocks in portfolio on weakness.
- Stop looking actively for buying opportunites

HSI started off bullish but closed near the low. Nevertheless, it rose +1.05% today. Today is the first attempted rally.

Action for HK market (risk-off):
- Stop looking actively for buying opportunites.

China is beginning to look interesting. Broad market has resumed strength. Stock indices are strong too but still early to judge as we need to see follow-through strengths of the indices to be surer.

Action for China market (risk-off):
- Start looking actively for buying opportunites but don't buy yet.


If you are thinking of trying out a new stockbroker, please read my review about Tiger Brokers and sign up if you like Tiger.