This is a delayed weekly update. Something cropped up in the last minute.
Last week was a bad week for global markets. It was a bad week for Asian, European and American stock markets.
The China stock indices are still looking strong with respect to the moving averages. Things do not look good for the rest of the world.
As usual, Hang Seng Index(HSI) is still at the bottom.
This Bloomberg snapshot taken on 15Dec2021 shows how battered is. 40% of HSI members are trading below book value. With stocks so badly battered, get ready for a strong rally when HSI bull market returns. Now is obviously not the time.
Broad market statistics showing the percentage of stocks above key moving averages show a decline across China, Hong Kong and Singapore markets. Interestingly, the number of 52-week highs in China's stock market rose during the week when the broad market performed poorly.
With the weak stock markets, one needs to get ready to sell and reduce risk exposure if stock markets weaken further in the coming days.
I put my idle money with Moomoo Cash Plus while waiting for investment opportunities. Cash Plus yields around 2.5% interest and is giving cashback gift of up to S$60 to new customers. If you are keen, please read my review and sign up if you like it.