HSI Futures
All three major indexes rose to record high closes again on Thursday, with optimism over a tax overhaul increasing as Congress moved closer to agreement on a budget resolution and as data added to recent signs of economic strength.
Hong Kong stocks ended higher on Wednesday, extending gains made in the previous session with mainland automakers, banks and insurers leading the surge after the Chinese central bank’s weekend move to free up liquidity to support small enterprises. Hong Kong markets will resume trading today after off for mid autumn festival yesterday.
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Plan A : Above 28510, do nothing
Plan B : Below 28241, do nothing
Plan C : Attempt buying if market trades firmly above 28351
Plan D : Cut below 28280
Plan E : Consider selling if market surges but fails to breach above 28510
Plan F : Cut above 28565
FKLI
Market touched an intraday high of 1763 before settling at 1759 yesterday in another day of recovery. It will be important for market to hold firm above 1758 today if it were to make a reversal from recent slump. A convincing break up above 1763 would present a good chance for the market to rally ahead of Budget announcement.
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Plan A : Hold buy if market trades firmly above 1758
Plan B : Cut below 1755
Plan C : Consider selling if market fails to breach above 1763
Plan D : Cut above 1767
FCPO
FCPO struggled to breach across 2746 and it ended reversing back to 2708 later in the afternoon. However, the visit to 2700's is rather a touch 'n' go before it settled at 2720. Soybean oil is slightly down today while Ringgit stays at RM4.23 against the greenback.
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Plan A : Buy if market retraced but supported above 2699. Targets are 2739 and 2751.
Plan B : Sell if market rebounded and resisted around 2734. Targets are 2715 and 2699.
Plan C : Above 2734, no fresh position.
Plan D : Below 2699, 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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