Stock markets support level - where are they?

The fact that central banks started to show concern and provide financial assistance to major financial institutions show that there is a great concern to the financial industry and a worsening economy especially in the US. Market indices has started to make new lows and breaking many immediate support levels.

On September 18, I have established some support level for the stock market indices and looks like the markets are nearing these levels. There still some room to move downwards for some markets.

Kuala Lumpur Composite Index 140 points (14%) above support level
Close: 997.23 Low: 980.28
Support level: 850 to 900

Singapore Straits Times Index rebounded on support level
Close: 2,177.55 Low: 2,128.96
Support level: 2,100

Hong Kong Hang Seng Index 1,800 points (10.7%) above support level
Close: 16,803.78 Low 16,790.86
Support level: 15,000

Japan Nikkei 225 broke below support level
Close: 10,155.90 Low: 9,916.21
Support level: 10,500
I will comment on the Japanese market tomorrow.

Thailand SET Index 40 points (7.5%) from support level
Close: 528.71 Low: 527.70
Support level: 480 to 500

US Dow Jones Industrial Average Rebounded from Support Level
Close: 9955.50 Low: 9525.32
Support level: 9,600 - 9,700

Commentary and analysis by Benny Lee