Following the stock market crash in the US, Asia is also in crisis mode. At the time of writing, Nikkei is down -3.89%, Singapore Strait Times is down -2.7%, and China Shanghai SSE is down -4.52%. SSE has now broken 2016 low at 2638, which is a key support level, not for trade war, but for the crash in the US.

Hong Kong HSI gapped down at open and is now down over -1000 pts, or -3.84%.

- advertisement -

The down trend started earlier this year as dragged down by China’s SSE. Now DOW also joined the party. Based on current momentum, HSI heading to 61.8% retracement of 18278.8 to 33530.6 at 24105.0 for sure. Realistic chance of some support could be found at 76.4% retracement at 21878.23. But let’s see. It could be worse if China SSE accelerates further downward after breaking 2600 handle.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.