The Case for Technical Analysis in Asian Markets

Macro & Asian equity Technical Strategies, BBSP Asia

Federico D'Inca

Macro & Asian equity Technical Strategies

BBSP Asia

Technical Analysis

Long Term Allocation (Strategic view) Relative Value vs MXAP in USD terms• SOUTH KOREA: Strategic downgrade on KOSPI from overweight to neutral ( Note that KOSPI has broken key support at 270 as well.)Mid Term Country Allocation (Tactical view) Relative Value vs MXAP in USD terms • Upgrade Australia (ASX 200) from neutral to overweight. The index reacted off the trend pivot support at 5570 and vs MXAP, signals are also bullish. • Downgrade Korea (KOSPI 200) from tactical neutral to underweight as RV (KOSPI/ MXAP) is breaking support and shows room for further tactical underperformance with KOSPI below 270. • “Hold” rating unchanged for Japan (Nikkei 225), Hong Kong (HSI), HSCEI (China) and Taiwan (TWSE). Still overweight for India (Nifty 50)

Long Term Allocation (Strategic view) Relative Value vs MXAP in USD terms• SOUTH KOREA: Strategic downgrade on KOSPI from overweight to neutral ( Note that KOSPI has broken key support at 270 as well.)Mid Term Country Allocation (Tactical view) Relative Value vs MXAP in USD terms  • Upgrade Australia (ASX 200) from neutral to overweight. The index reacted off the trend pivot support at 5570 and vs MXAP, signals are also bullish. • Downgrade Korea (KOSPI 200) from tactical neutral to underweight as RV (KOSPI/ MXAP) is breaking support and shows room for further tactical underperformance with KOSPI below 270. • “Hold” rating unchanged for Japan (Nikkei 225), Hong Kong (HSI), HSCEI (China) and Taiwan (TWSE). Still overweight for India (Nifty 50)

BBSP ASIA Equity Asia Weekly Research - 31 Oct 2018

Computershare Ltd

BBSP ASIA Equity Asia Weekly Research - 31 Oct 2018