U.S bull market continues to charge. HK down. SG remains steady. Weekly observation 29Oct2021

SG(risk-on) HK(risk-off) CN(risk-off)

U.S bull market continues to charge. HK down. SG remains steady. Weekly observation 29Oct2021
Photo by M. B. M. / Unsplash

U.S stock market bull continues to charge this week. S&P500 made an all-time high this week and closed near the high on Friday. So did Nasdaq 100.

It was a bad week for Hang Seng Index. It is now below the 21-day, 50-day, 200-day moving averages. This is not a good environment for individual stocks to perform.

Broad market statistics 22Oct2021
Broad market statistics 29Oct2021

The broad market statistics for HK market showed deterioration on all counts compared to last week. Interestingly, in China's stock market, the number of 52-week highs vs 52-week low has shown a marked improvement, although the percentage of stocks below key moving averages have shown a decline across the board compared to last week.

The Singapore stock market is showing some resilience this week in the face of weaknesses in other Asian markets like Australia, India, Korea, Thailand, Philippines. Singapore is a small economy and is strongly influenced by what happens to her neighbours. So, one had better be cautious about getting aggressive in Singapore stocks when neighbouring Asian markets are not doing well.

This post was a continuation of last week's market observation.

I have been earning 12% annual interest rate on my USD equivalent deposit with Hodlnaut. If you are interested in how I did it, please read my review about Hodlnaut and sign up if you like Hodlnaut.

FTX is the crypto exchange that I use the most. This referral code (not mine) offers 10% discount when others are 5% only. If you are keen, please read my FTX review

I use Tiger Broker app regularly because of its user-friendliness. If you are keen to try out, please read my review about Tiger Brokers and sign up if you like Tiger.