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Sunday, August 17, 2014

Weekly Wrap

It's an " all green" week, all major indices closed positive with gain from 2.6% to 0.7%.

HSI and SSE have been bullish for the past four weeks. Fueled by upbeat sentiment for the upcoming launch of Shanghai-Hongkong Connect(沪港通) in Oct. The A-H shares which trading on both markets are in focus, and the blue chips of large Stated-Owned Companies. It will be a milestone for Shanghai to open up its capital market to foreign retail investors. It's expected the HSI and SSE will be bullish towards end of the year.

We will be able to trade the Shanghai A shares at ketrade platform just like HK stocks when the Connect is expected to kick start on Oct 13.
 STI weekly chart looks bullish, it formed a reversal candle, after previous two-week retracement hit 3300 support. Next mid term target is 3450.
 HSI is just beneath its major 25000 level resistance. More upside if it broke above it.

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