U.S bull market can't stop. HK, China bear market can't stop. SG broad market weakening but index remains strong. Weekly observation 5Nov2021

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

U.S bull market can't stop. HK, China bear market can't stop. SG broad market weakening but index remains strong. Weekly observation 5Nov2021
Photo by Nick Chong / Unsplash

S&P500 rises 2% this week. This is its 5th consecutive weekly rise. Based on S&P500's reaction to reduce its monthly asset purchase, there is no need to worry about a taper tantrum at this point. The U.S bull market can't seem to stop.

Meanwhile, over in Asia, the opposite is happening. Hang Seng Index dropped 2% this week, following last week's drop of 2.87%. China's CSI300 dropped 1.35% this week, following last week's drop of 1.03%. For traders, this is not an environment to buy stocks in HK and China.

Straits Times Index rose 1.38% this week. But the message is different when one takes a deeper look at at the broad market. The advance/decline line (number of advancing stocks versus number of declining stocks) was negative for all 5 days of the week. I will be careful of adding more stocks to my Singapore stock portfolio at this stage.

Broad market statistics 29Oct2021
Broad market statistics 7Nov2021

Broad market statistics for Hong Kong stock market suffered a sharp decline this week. Interestingly, it showed an improvement for China's.

Purchases

Outside of the stock market, I made a few purchases in the crypto market. I bought Ethereum and Solana on the strength of a breakout to a new high in the early part of the week.


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