Singapore Stock Market News

Has Asia's next downleg started?

StockFanatic
Publish date: Wed, 21 Aug 2013, 09:59 AM
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Daily chart for Indonesia's JCI
The Asian equities' next downleg has started, with Indonesia's JCI leading the way. The JCI declined 13% in the past five trading days. The weekly and monthly technical indicators remain bearish for the MSCI Asia ex-Japan Index (MAxJ).

It does not look positive for the US equity markets either. The weekly technical indicators continue to show bearish negative divergence signs. We also see more downside risks for US equities.
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