We have been tracking most stocks in the major benchmark index components in the US, Hong Kong, Singapore and Australian stock markets since March 2009, issuing technical buy & sell calls on specific stocks when trading opportunities arise due to extreme oversold/overbought situations, buy & sell triggers on technical indicators or breakout incidents.

In addition, we began monitoring our buy & sell recommendations from October 2010, setting up tracking portfolios (issued and updated weekly in our foreign technical stock watch reports) for the respective markets with performance summary at the end of the table.

Portfolio Review for 3Q2023

For 3Q2023 under review (refer Table 1), global stock markets suffered mild corrections after the US Federal Reserve left interest rates unchanged but retained a hawkish stance, which implied rates could stay high for a prolonged period as inflation remained sticky, and China’s property sector malaise persisted. The US Dow Jones Industrial Average dipped 2.6%, followed by Australia (-2.1%), but Singapore gained 0.4% while Hong Kong sank 5.8% on worries over China’s property sector. For 1H2023, prominent double-digit gainers are Nasdaq (+31.7%), Japan (+27.2%), Taiwan (+19.6%), Germany (+16%), S&P500 (+15.9%) and South Korea (+14.7%).

On the performance of our current recommended stock portfolios, the US portfolio slipped 2.3%, Hong Kong fell 10.3%, Singapore was flat at +0.2% while Australia eased 0.6%. (please refer Tables 2 to 5)

Source: TA Research - 3 Oct 2023