The charts point to mainly bad news. The Straits Times Index fell by 106 points week-on-week during Oct 10-14 to end at 3,039. The major negative development is that quarterly momentum has fallen below a support and its equilibrium line. At the same time, the STI fell below three times tested 3,120 level and also the twice-tested 3,090 level. In addition, the 50-, 100- and 200-day moving averages, currently at 3,212, 3,187 and 3,244 respectively, are likely to turn down at their current levels. In the short term, as short term oversold pressures build with 21-day RSI testing 31, the STI could rebound albeit temporarily, with the previous support of 3,120 acting as a mild resistance area. Elsewhere, the uptrend in the yield on the 10-year US Treasuries remains intact. To-date, the yield -as

$Taiwan Semiconductor Manufacturing(TSM)$Q3 earning released on Thursday, with the same day of Sep CPI. TSM has rebounded 4%, with the intraday high of 9%,According to WSJ, TSMC and $Samsung Electronics Co., Ltd.(SSNLF)$, have received a one-year license to keep their chip production in China, where they have factories, and continue to expand their business there. That maybe the reason to keep it rebound.Of course, America's

Federal Reserve officials committed to raising interest rates to a restrictive level in the near term and holding them there to curb inflation, though several said it would be important to calibrate hikes to mitigate risks. “Several participants noted that, particularly in the current highly uncertain global economic and financial environment, it would be important to calibrate the pace of further policy tightening with the aim of mitigating the risk of significant adverse effects on the economic outlook,” according to minutes from their Sept. 20-21 gathering released Wednesday in Washington. During the meeting, US central bankers agreed to boost the benchmark lending rate 75 basis points for the third straight time, lifting it to a target range of 3% to 3.25% as they combat stubborn infla

The International Monetary Fund warned of a worsening outlook for the global economy, highlighting that efforts to manage the highest inflation in decades may add to the damage from the war in Ukraine and China’s slowdown. The IMF cut its forecast for global growth next year to 2.7%, from 2.9% seen in July and 3.8% in January, adding that it sees a 25% probability that growth will slow to less than 2%. The risk of policy miscalculation has risen sharply as growth remains fragile and markets show signs of stress, the IMF said Tuesday in its World Economic Outlook. About one third of the global economy risks contracting next year, it said, with the US, European Union and China all continuing to stall. The impact of the Federal Reserve’s monetary policy tightening will be felt globally, with