Market action 25Aug2021 (Wed)

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

Stock index Daily change 21EMA* 50EMA* 200EMA*
HongKong Hang Seng Index -0.13% -1.69% -4.63% -6.52%
Singapore Straits Times Index 0.00% -1.04% -1.15% 2.27%
China CSI 300 Index 0.20% -0.60% -2.17% -1.82%
Australia ASX200 0.39% 0.63% 1.88% 7.78%
Japan Nikkei 225 -0.03% 0.10% -1.19% 0.72%

Don't like the action of STI for past 5 days, even though trend was up. Out of the 5 days, there were 3 day where STI was up pretty significantly, then closed near the low. However, the broad market performed well today. Overall, there is an improvement in the market over the past 5 days.

Action for Singapore market (risk-on)
- Get the stops ready and sell remaining stocks in portfolio on weakness.
- Resume actively searching for buying opportunites. Buy when price target reached.

Lacklustre day for HSI and Hong Kong market.

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

China stock indices have been bullish in the past 3 days, particularly Shanghai composite and Shenzhen composite. Prices have been rising with rising volume. The broad market is also getting stronger.

Action for China market (risk-on):
- Start looking actively for buying opportunites. Buy when price target reached.

This week has been bullish for global stock markets in general. This is further reinforced from the weakening of the USD with respect to the major currencies. USD is safe-haven currency. It tends to weaken when stock markets are bullish and strengthen when stock markets are weak.


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