Here are the updated ugly graphs conveying the damage wrought by the global bond vigilantes on ASEAN equity markets.
The breakdown of Indonesian bellwether (IDDOW) appears to have ushered in a full blown bear market
Thailand’s SET’s head and shoulder breakdown reinforces the downside ‘toppish’ action
Malaysia’s (MYDOW) trend break accentuates the actions of the former two.
The Philippine Phisix has been out of picture given two days of suspended trading due to floods and today’s public holiday
Nonetheless here is the Phisix US (New York) traded ETF proxy, the EPHE, also on a short term head and shoulder breakdown. The bigger head and shoulders I didn’t include.
The bear market signals in ASEAN equity markets appear to be converging and strengthening.
And I may add this conspicuous rounded top by Singapore’s STI