by ckchoy
Local market has been hit hard inline with global markets weaknesses, with regional markets eg China and HK are weaker.
refer to above indices marking table:
all the indices are at/near to this year low, eg STI current 3257 vs this year low 3236. It has corrected down 10% from the top (3615 ), and about 5% down vs last year close (3403).
SSE(Shanghai Composite Index) is the worst performing index with -22% from the top (3559 ) which in technically definition, it is in bear market (index down about 20 to 25% from the previous top )
HSI is the second worst with -15% from the top (33154) vs this year low (28242).
From TA point of view, many indices are in bearish sign which means traders tend to short more than long under such condition.
From FA point of view, markets are getting cheaper and attractive, investors tend to buy more.
Suggestions
Can start accumulate good quality defensive counters, eg Singtel (3.08 and below ), ThaiBev around 0.68. SGX around 7.11. Of course, there are more counters in bargain prices......
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| table for illustration purpose only |
Local market has been hit hard inline with global markets weaknesses, with regional markets eg China and HK are weaker.
refer to above indices marking table:
all the indices are at/near to this year low, eg STI current 3257 vs this year low 3236. It has corrected down 10% from the top (3615 ), and about 5% down vs last year close (3403).
SSE(Shanghai Composite Index) is the worst performing index with -22% from the top (3559 ) which in technically definition, it is in bear market (index down about 20 to 25% from the previous top )
HSI is the second worst with -15% from the top (33154) vs this year low (28242).
From TA point of view, many indices are in bearish sign which means traders tend to short more than long under such condition.
From FA point of view, markets are getting cheaper and attractive, investors tend to buy more.
Suggestions
Can start accumulate good quality defensive counters, eg Singtel (3.08 and below ), ThaiBev around 0.68. SGX around 7.11. Of course, there are more counters in bargain prices......
