9th December Market Outlook

8 déc. 2019

We can see after minor weakness kick in on global last week, a quick rebound took place. Might expecting more upside on global next week. However, do take note next week a lot of high impact news (such as UK Election, FEDrate ) which might hinder the bullish momentum or if better, giving indices a boost if outcome is favourable to the market. As for KLCI, retested the crucial support region 1550-1560, and rebounded. As long can sustain 1550 for now, expecting this might be the turning point for the indices as we see some positive signals appearing in certain sectors such as construction, tech and small caps. Energy sector still neutral at the moment, but oil price surged back to 65 region, and the bullish movement still intact at the moment.

HSI- Looking good if sustaining 26000, possible upward movement if can sustain 26000 from this point onwards. But do take note on the trade war outcome( 15 th December )deadline is still in place to impose a new round of U.S. tariffs on Chinese consumer goods.