Asian market Review 10/12/2007

Markets in the US are closed mixed on Friday. Dow closed 5.69 higher or 0.04% up, Nasdaq closed 2.87 pts lower or 0.11% down, S&P500 closed 2.68 pts lower or 0.18% lower. This is after good job data news, a jump in products' costs and reports of slower growth in the US economy. The Fed are expected to cut another 25 basis points during this week meeting.
The Asian market might open flat today and it might be looking for direction and waiting for news. the Yen is traded at 111ish per US$, oil is traded at $88ish per barrel and Nikkei futures traded at 16020 at CME, higher than Friday's close of 15945.
The Kospi might be opened around Friday's closing price but maybe with a slight downside bias before going up and getting stronger on speculation of the Fed's rate cut later this week. I still recommend a BUY for Kospi but I think, it might be best to wait to get position rather than take position at the open. My target price range for Kospi today is: 245ish-250ish.
The Hangseng might be opened around 29000. It might go down a little bit first before going up with Fed's rate cut expectation later this week. I still hold my BUY from Thursday, and I will wait and see for this index. It might be best to wait for market direction rather than take position in early morning. My target price range for today is: 28700ish-29300ish.