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Saturday, September 2, 2017

Weekly Wrap for the Week of Sep 1 and Monthly Index Performance for Aug

Major stocks indexes rebounded for 2nd week, US tech stocks made a strong return with new high, Overall US stocks are in bullish tone, uptrend well intact with no immediate bearish reversal signal.

China SSE in 3rd week up consecutively, China stocks look bullish after crossed above 3300 key level, plenty of room for upside.

HSI index made new high this week, hit its upper uptrend line, also near its major resistance level 28500, watch closely any bearish reversal signals for potential profit taking, the index registered stunning YTD return of 27.1%, has been the most outperformed index in my focus list in below table.

STI rebounded from support area 3260-3270, it's in profit taking and consolidation mode hiting new high in Jul. Continue watch support immediate support 3260-3270 then key support 3200, upside resistance at 3350.

On monthly basis, China SSE registered highest monthly return with 2.7%, following by HSI. STI is the only index had loss in Aug with 1.6% down. Refer to below tables for major index weekly and monthly performance.

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