Asian Markets Are Divided

Asian stock markets are divided into two camps; those that broke their uptrend lines and those that are still in an uptrend. In the first group, we have SSEC, HSI & STI. SSEC broke its uptrend line in February- right after Trump started talking about having a trade war with China. HSI & STI were able to hold out for a while but they too succumbed to the selling pressure, and broke their uptrend lines in June. 

Chart 1: SSEC's daily chart as at Aug 8, 2018 (Source: Stockchart.com)


Chart 2; HSI's daily chart as at Aug 8, 2018 (Source: Stockchart.com)


Chart 3: STI's daily chart as at Aug 8, 2018 (Source: Stockchart.com)

The second group of stock markets that manage to continue to trend higher are NIKK, BSE and, surprise, surprise, TWII.


Chart 4: NIKK's daily chart as at Aug 8, 2018 (Source: Stockchart.com)


Chart 5: BSE's daily chart as at Aug 8, 2018 (Source: Stockchart.com)


Chart 6: TWII's daily chart as at Aug 8, 2018 (Source: Stockchart.com)

FBMKLCI appears to fall in between these 2 groups; we have to drifting higher (if that's ever possible). As noted in the immediate preceding post, FBMKLCI has surpassed the 200-day SMA line and it may begin to go into an upswing. Hopefully we will join the latter grouping and be among the performing stock markets in this region.