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Sunday, April 1, 2018

Index Weekly Wrap for the Week of Mar 30

Most indexes rebounded in last week of the month of March, ended two consecutive week of heavy selloff. Among the three major US indexes, DJI and SPX rebounded 2.4% and 2% this week, but both indexes are in the negative YTD return with 2.5% and 1.2% loss now. The technology heavy weighted Nasdaq (COMP) index rebounded 1% for the week and its YTD return is still positive with 2.3%. Technically, all three indexes uptrend line are still well intact. ( refer to below weekly charts)

In Asia, HSI, SSE and STI recorded weekly gain of -0.7%, 0.5% and 0.2% for the this week. STI is the strongest performer after COMP YTD with 0.7% gain, and HSI following in 3rd place with 0.6% YTD return. SSE is the worst performer YTD with 4.2% loss. Shanghai stocks looks the worst victim of the US-China trade war tension. But it won't be surprised as China stocks are always look much weaker as compare to its peers, despite its much strong country economy. There are structural flaws between the stocks and Economy there. 

It's a bad month for March, all indexes recorded between 2.4% to 3.7% loss as seen in below monthly performance table.

Technically, STI, HSI and SSE all three indexes are still in uptrend, STI key support level is YEC 3402, and HSI key support level at 30000. SSE key support level at 3100.

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