Asian market preview 26/12/2007

Firstly, Merry Christmas 2007 to all my blog readers. US markets posted gains on half day trade on 24th December. Dow added 98.68 pts or 0.73%, Nasdaq rose 21.51 pts or 0.80% while S&P500 added 11.99 or 0.81%. The gains were paced by news that Merrill Lynch will receive an investment of up to $6.2 billion from 2 investments groups (Temasek Holdings of Singapore and US-based Davis Selected Advisor). Retailers also rally after last minute shoppers help boost confidence even by a little bit.
Stocks in Asia might extend gains today. Japanese market was the only one opened on Christmas day, gaining 1.75% to 15670 in Singapore and 1% or 15600 in Osaka. Crude Oil was traded at $94.13 per barrel, JPY at 114ish and gold at $806ish. Nikkei futures closed at 15660 in CME.
The Kospi might rise again today with the strong close on Dow on Christmas eve. It might opened around high 246ish-247ish. If it opened below 247, I think it might still be safe to get a BUY and lock in profit today. Kospi might try the 250ish level again today. My price range for Kospi today would be 244ish-250ish.
Hangseng might opened stronger again today following the strong close on US and Japan. It might opened around 28500ish and if it opened below 28500 or in the lower region of 28500, I think it might still be safe to get a BUY for profit today. Hangseng might also try the 29000 level today if investors' sentiment are still really high and if the window dressing continue to boost the market. My price range for Hangseng today would be: 28400ish-29000ish.