HSI Futures
Wall Street edged lower on Wednesday as investors stewed about future interest rate hikes and cheaper oil dragged down energy shares, although Apple surged to its highest level this year.
Hong Kong stocks were little changed on Wednesday as traders were reluctant to make any big bets ahead of next week's Federal Reserve policy meeting. Most markets are already closed for the week in conjunction with Mid Autumn Festival with Malaysia being shut tomorrow for Malaysia Day celebration. Hong Kong market too will be close tomorrow for the day after mid autumn festival.
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Plan A : Above 23380, do nothing
Plan B : Below 23144, do nothing
Plan C : Attempt buying if market holds firm above 23300
Plan D : Cut below 23235
Plan E : Consider selling if market stays trading below 23235
Plan F : Cut above 23290
FKLI
FKLI showing early signs of bear with market struggling to hold above 1652. Failure to hold above this level today will accelerate the downward pressure. Buyers are advised not to be stubborn but be more vigilant if market were to trade below 1652 today.
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Plan A : Attempt selling if market stays below 1652
Plan B : Cut above 1659
Plan C : Consider buying only if market dived too fast and rebound from 1632
Plan D : Cut below 1626
FCPO
FCPO traded in a tight range yesterday with investors shying away as weak RM cushioning the fall. Another directionless trading can be expected today with the absence of dalian as China markets are closed for mid autumn festival celebration.
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Plan A : Buy only if market opens gap down and supported above 2545. Targets are 2564 and 2576.
Plan B : Sell if market rebounded and resisted around 2576. Targets are 2545, 2536 and 2526.
Plan C : Above 2576, no fresh position
Plan D : Below 2545, no fresh position
*Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.
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