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Monday, October 13, 2014

STI Hit 6-Month Low Today, Break Down 3220 Level

Update from FB "SgTraderClub":

@4pm. HK closed positive 55points at 23143. 23000 mark lost and found( 失而复得), it dived more than 200 points before lunch.
AIA(1299.HK) open gap-down to 40.3(day low) then recovered and closed for the day at 41.9 HKD, +70c higher than last Fri close.. A big swing. The Com. will release 3Q results on 17 Oct, market expects new business value will grow by 20-22%y/y, analysts have been revising target price. pls refer to my 2 Oct post for TA.
China Coal sector is turning to positive after government policy announced recent to place tarrif on coal imports. This will give advantage to domestic coal producer. Consider China coal 1898.HK @4.83 today.
STI -25points at 3198 now, broke below its recent(last week) support 3220, the index isn't following HK's rebound. It crossed below 200MA today as well. The bears are take charge now.

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