The stock market has risen for the past 4 weeks and the ‘good news’ from the European Summit boost the stock markets by 3-4% on 27 Oct 11. And the market is also expecting China to step in with rescue funds for the debt-ridden European economy. The 50% write-downs on Greek debts will be bored by banks and private investors. And where would the money come from to boost the rescue funds to 1 trillion euro dollars? Print again? Many details have not been sorted out. Everything is fine until another European country (Italy next?) to declare her debt woes. And all of a sudden, there isn’t enough money to go around again. It would be interesting how the market will fare in the next few weeks.

Trading Results:

Open trades:
Hang Seng Index – Sold 18970, now  19349 (-2.0%)
CLP – Bought $70.46, now $69.60 ...