Rabu, 21 November 2007
Another Volatile session for Asian Markets?
With Dow Jones finally ending up 51.7 points (0.4%) last night, it looks like the Asian markets are set for a mild rebound. The Fed minutes showed that they're concerned with the slowing US economy in 2008 and that the rate cut was a 'close' call. However, most Asian markets have already rebounded from their losses yesterday late in the session. The Nikkei futures on CME pointed to a similar open from the close in SGX and Osaka at 15185. Kospi, which I'm currently specializing in, I'm predicting it to move around 234ish-239ish for today, with the commodities sectors leading the upward trends since crude oil and precious metals prices rising last night. Crude oil last settled at $98.20 on Nymex last night. For day trader in Kospi index futures, watch for the open price. If it opens below yesterday's closing price, it's a good price to buy but if it opens above yesterday's close by a huge margin, it's safe to sell and get a fairly quick profit. For HangSeng, I think it will continue its upward trend and rebound from yesterday's losses, boosted by tech companies and commodities sectors. My target range for HangSeng is 27000ish-27800ish.
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