Asian markets opened stronger today as expected following a strong US market overnight. Nikkei was opened at 16055, Kospi at 246.95 and Hangseng was opened at 28880. Investors are betting that the Fed will cut interest rate by at least 25 basis point after their meeting concluded later on tonight.
The Kospi opened at 246.95 and it went up a bit to 247.35 and began its rollercoaster ride. For those day traders, who have been following my data, at this point, it is wise to wait it out. Well, for those brave souls, you could actually SELL when Kospi was at around 247ish. I wait for my turn and I did get a BUY when Kospi touched 246.00. I waited it out and I did get my target today as Kospi's movement was quite nice to follow during the day. Kospi price ranged today at: 244.80-249.05
Hangseng opened at 28880 and it is as expected to be very strong, touching only its lowest at 28811 although pretty flat during the 1st session to close at 28915. 2nd session was proved to be a very good session, opened just 2 points below 1st session closing price, indicating a kick upward to be expected, and true enough, Hangseng ran up within 15 minutes of trading in 2nd session and it reached as high as 29416 before closing the day at 29407. Hangseng ranged today at: 28811-29416. I stil hold my BUY from last Thursday hoping for more good news to come. :)
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