The Asia market ended higher this week, with Hang Seng Index closed up four consecutive days since the first day of March.
This week, the trading range for Hang Seng Index March futures contract was range between 18960-20184 (1224), closed at 20100 (+239), successfully hold above daily MA10 and MA20. Cash market ended at 20176.70, gain 234.94 points or 1.18 percent.
With overnight Dow Jones closed up 62.87 @ 17006.77, we expect the uptrend to be continued, possible with profit taking or small correction. The immediate resistance is expected at 20260, next 20600. Downside support 19950, 19770, further support-19200.
In KL, March futures contract traded between 1646.0-1699.0 (53.0) since beginning of March. Spot futures gain 9 points, finished at 1695.90 on Friday evening; cash market settled at 1692.49 (+4.29). Upside resistance is seen at 1725 for KLCI futures. If this level is broken, a new uptrend will be formed. On the downside, supports is seen at 1690, next 1670.
We added a few stocks into our holdings. In Australia, a digital media company named Netccentric which was listed in ASX since last June; in Hong Kong, Tracker fund of Hong Kong (HK:2800) and Shun Tak Holdings (HK:242).
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