US keep rate unchanged sent Asian Market lower?

The US Federal Reserve decided to keep the interest rate unchanged at the meeting last night. The news sent DJIA to closed higher at 17779 (+198).

Hang Seng Index opened high in the morning but market further retraced. Cash market closed lower at 22819.94 (-136.63). For October futures, it closed at 22897 (-81) whereas November futures closed at 22770 (-206). Range for November futures traded between 22753-23070 (317). Looks like HSI cannot sustains above 23000 and 23000 becomes the resistant again.

In Malaysia, 1700 became the resistant for KLCI Index. Range for October futures traded between 1661-1696 (35), closed @ 1663 (-27); cash market closed at 1666.98 (-19.53). Tomorrow is the expiry for October futures. Depending on how US perform tonight, we see support for KLCI at 1640, resistant 1680.

We think the market and economy is in a challenging time. With the news of banks and companies restructuring, cutting staffs and lowering costs etc, seems like economy is not doing well. These in turn affects companies' earning and their share price...

We think it's time to spend frugally and invest wisely.