The market rallied for two days, on last Friday and yesterday. However, the gains couldn't sustained and Asia Pacific markets closed in red again, especially Nikkei 225, lost 2.35 percent and Shanghai Composite Index slumped 6.38 percent!
Hang Seng Index futures rebounded to highest 19505 on Monday afternoon. However, as overnight US closed down 208, this caused the Asia market sank again today.
Hang Seng Index closed at 18860.80, lost 479.34 or 2.48 percent. Spot futures closed down 337 at 18901. Since it is final week of the month, it's the time of futures contract rollover again. We think market will hovering around 19000 in short term. Upside resistant 19300, 19700. On the downside, supports are 18530 and 18200.
FBM KLCI Index gained 1.45 ended at 1626.66 at closing. January futures finished at 1629.50 (+1.50). If the market broke above 1630, we see next resistants for KLCI at 1650, higher 1680. Supports are 1600 and 1580. Market could be volatile this week as January futures contract is expiring on this coming Friday.
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