It is really a disappointing day for our local stock market especially after US released some very positive news. Our local stock market (last minute up a mere 0.2%) doesn't respond greatly to the good news, but Hang Seng (up 2.72%)and Nikkei (up 1.08%) responds nicely to the good news.
As a result, i trim some of my portfolio today. Since the market doesn't respond well to good news, i think the market is finding an excuse (reason) for a correction. Thus, i think a small little bad news will make the market down.
There are some consolation prizes to me today as I am still holding foreign (Hong Kong) call warrants. HKEX-CB ups around 5% today. Tomorrow i will be monitoring HSBC-C5 closely as HSBC (HSBC-C5 mother) up 3.1% up but HSBC-C5 up 0%. If you understand what call warrant is, you will understand what i mean. haha.
Now I start to think if the correction is to come what would the correction magnitude be. I think it would be less serious than the last June correction. Honestly, the last June correction did really surprise me in term of its magnitude. Hopefully, this time it will not surprise me again.
Airasia is going to announce its quarterly report in this few days. Hopefully, it would be a great one.
Ok, good luck in your trading.
GOon
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