Hang Seng Index and its November futures contract closed at 22867.33 and 22738, respectively. The cash market closed down 183.71, futures down 225 points. Range of the week for futures was traded between 22230-23347 (1117).
Dow Jones rose 46 points on Friday closing at 17910. For HSI, we see Index will be moving between 21988 and 23482 if market break above 23000. Near support is at 22440.
There is another 8 trading weeks till we say hello to 2016. 2015 had been a volatile year, beginning with an uptrend, followed by a downtrend in second half of the year. It is not surprise to see market moving into consolidation from now or in a few weeks time, as fund managers and investors are closing their position, taking time off from the market till next year.
For KLCI Index, cash market closed at 1685.70 (-2.84), futures closed +4.5 at 1686.50. The weekly range for this month futures contract was between 1646-1694.5 (48.5). Resistant for KLCI remained at 1725, immediate support 1675, next level 1640.
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