Asian stocks continued their upwards ascent for the eighth week. The MSCI Asia Pacific Index rose 0.4% to 124.85 after better than expected economic news on the U.S. employment jobs front.

On the charts, STI managed to close the gap 2,943 – 2,974 (formed on 5-8 Aug 2011). It reached an intraday high of 2,995 which was near my resistance level of 2,997 mentioned last week but closed at 2,960 on concerns of the Greek debt problems. Market watchers would be watching whether the Greek will pass the parliamentary approvals on further austerity measures today (Sunday).

Just a recap on the stocks which I mentioned last week:

a) China Animal: It trades to an intraday high to $0.265 and closed at 0.250 (again) on Friday. Nothing new. It is still trapped within the range 0.240 – 0.255.

b) Kreuz: It indeed reached an ...