US markets rose overnight on speculation European Central Bank's $500 billion into the financial system will help the economy withstand a deteriorating housing market. Stock also rose after Goldman Sachs and Best buy posted profit gains. However, the possibility of recession in 2008 kept the market nervous. Dow rose 65.27 pts or 0.50%, Nasdaq climbed 21.57 pts or 0.84% while S&P500 rose 9.08 pts or 0.63%.
Asian markets might continue its rebound from yesterday today following the rebound happened in the US overnight. However, trading volumes might be thin as the Christmas holiday's approaching. JPY is traded back at 113ish, Crude oil at $90.49ish while Gold is traded above $801ish again. Nikkei futures at CME closed at 15310, up from the close of 15230 here yesterday.
Kospi is closed today for national holiday for presidential election.
Hangseng might open higher following US mild gains overnight. It might open up at around 26850-26900. If it opened at around 26800ish or lower part of 26900, I think it's still safe to BUY and get profit. If it opened much higher, it'd be best to wait it out. Big ups and downs might happen in the market today I think. My target price range for Hangseng is: 26500ish-27300ish.
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