Asian market preview 20/12/2007

US markets ended mixed overnight on credit concerns after Morgan Stanley announced a $9.4 billion writedown and a weakening economy that many believe is heading for a recession. Dow ended 25.20 lower or 0.19% loss, Nasdaq gained 4.98 points or 0.19% while S&P500 lost 1.98 pts or 0.14%.
Asian stocks might move lower again today should investors think that the credit market is really worsening and also the US economy is heading for a recession. JPY is at 113.31ish, gold at $802ish while crude oil at $90ish per barrel. Nikkei futures at CME settled at 15200, up from closing of 15065 yesterday.
The Kospi might gain today after a presidential election and also after a 1 day market holiday yesterday. If it opened around the closing price on Tuesday, it'll be safe enough to BUY I think. However, don't forget that the credit market concerns and recession is still very large in the market, there's no doubt that Kospi might also move lower should the investors don't want to bet too much on stocks. The Kospi might ranged around: 232ish-240ish.
Hangseng might have a slow start today but further strength might happen too. However, credit market concerns and recession concerns might hinder the Hangseng to further strengthening the market. Hangseng might have a volatile session which is an advantage to us day trader and Hangseng's movement might be around: 26600ish-27200ish.