Regional turn sour as bank having bad day, “Chinese banks continued for a third day on persistent fears they may need to raise funds to meet potential tougher regulatory requirements. Chinese leaders set to meet in the next few weeks to decide on next year's economic blueprint. (MW) Hang Seng follows suit, -2%.Mkt saw late selling as Europe –2% and DJ futs –100p proved too much pressure after having already to support weak regional tone in PM session. Banks and miners tumbles.
Technical weakness cause selling in late PM. Nov better off than Dec due to Mon’s expiry with fbmklci still at 70. Sentiment will turn short term sell if Dec09 does not recover when Nov09 expire on Mon as dec09 is below 30SMA ( the far right candle)
Buystop is lowered to 70 for Dec09.
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