Asia market edged higher with investors remaining on edge after US President Barack Obama and House Speaker John Boehner give speeches showing little progress on a debt deal.


As debt-ceiling compromise fails to materialize, investors increasingly price in a US downgrade.

As we had mentioned previously that market is challenging new resistance at 3200, so large swing in index should not be seen as reversal of market direction. We will expect market to consolidation around this point before index continue to move higher. We take a cautious stand now and avoid all short term trading to avert whip-saw.

No short term trading

Mid term trading
Jardine C&C enter 40.70 SL 35.40 (trail at 45.40) entered on 31th May 2011
1088 HK enter 39.05 SL 33.70 (trail at 35.60) entered on 5th July 2011
OCBC enter 9.80 SL 9.19 entered on 21th July 2011
UOB enter 20.14 SL 19.10 entered on 22 th July 2011