Daily Market Report (13 May 2019)

  • US tariff hike of 25% on China has kicked in last Friday on US$200bn worth of Chinese imports. Markets will continue to be volatile and is reacting to the headline news or tweets as evidenced by the rebound on Dow Jones from 359 points loss to close 114 points higher last Friday to 25,942.37.
  • Larry Kudlow, Donald Trump’s economic adviser said there is a “strong possibility” that Trump will meet Chinese President Xi Jinping at G20 summit in late June. Our view is that it is trading market for now and there are opportunities to selectively buying and follow our technical reports.