Concerns on Fed rate hike caused selldown in high-yielding assets like Utilities and telco stocks and bonds as well as safe-haven gold.

This week market technical outlook

•             Concerns on Fed rate hike caused selldown in high-yielding assets like Utilities and telco stocks and bonds as well as safe-haven gold.

•             Fear of a hard-BREXIT caused GBP to dive 4% against USD while impacts on indices under out coverage are limited.

•             Global oil price extended gains (light crude oil future +3.7% wow) after OPEC members agreed to cut oil production, which was positive to some of the Hang Seng-listed energy stocks.

S&P500 (SPX)- All eyes on Q3 earnings release. SPX likely to stay sideway for now

Hang Seng (HSI)(Top pick) - Pending for bullish breakout above 24000 or HSI to consolidate further.

Strait Times (STI)- Consolidating within an ascending triangle. Pending breakout above 2900.

KLCI-Likely to stay sideway in absence of catalyst while testing resistance at 1675.