The market continued its gain this week. Hang Seng Index March futures gained 232 points closed at 20237 on Friday evening; cash market settled at 20199.60, up 215.18 or 1.08 percent.
Although tight range, it has been a volatile week, a fight between the bull and bear. The range of the week for spot futures was traded between 19813-20298 (485).
With overnight Dow Jones finished up 218.18 settled at 17213.31; market will open higher on Monday. Resistance for HSI is seen at 20863, next is Daily SMA100-21017. Higher target 21500. Will market go that far next week? Or the end of rebound? We'll see. On the downside, 20300 had become the immediate support, next 19820; further down 19300.
In Malaysia, the market finally broke above 1700. FBM KLCI Index gained 5.63 points finished at 1696.54 on Friday evening; March futures ended up 6.00 points at 1697.50. Resistance for KLCI futures is seen at 1725, next 1775. Downside support is 1690, next 1675.
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