Another negative day as US extends its losing streak to five overnight. News of debt vote cancellation drag regional near -1% and Djfuts -80.
With no debt deal, mkt sentiment is unlikely to recover. A deal could spark some short term bounce b4 worries of possible dwgrade of US debt, even after a debt deal, takes centre stage.
Financials continue to drag fbm lower. Fkli Aug10 suffers big discount outlook on bearish tech outlook and weak external sentiment.
Fbm.fkli(jul) finish just above 100SMA. Below 1540 is fresh bearish tone, targeting 1500-1540 range. Next week, lower band is seen limited near 1517-20. Below 1555 is a sell mkt.
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