Rabu, 19 Desember 2007

Asian market Review 19/12/2007

Asian market ended mixed today. Most of the stocks rose but Nikkei dropped for the 6th day in a row after the government cut its growth forecast for the Japanese economy. Investors also refrained from making bets on stocks before earnings reports from US financial companies. Nikkei opened at 15230 and rose up only up to 15295 before it went downhill towards the 15000 level. It closed at 15085. Nikkei ranged from: 15000-15295.

The Kospi was closed for holidays for presidential election.

Hangseng was opened at 26879 and it rose to its highest peak within 100 mins of trading at 27266. I followed my guide and BUY at the open when I get 26900. It wasn't long before I got my profit and liquid my position again to cover my losses from 29898. Hangseng then played around 27000ish-27100ish and closed the 1st session at 27001. Hangseng rebound was expected from the gains on Wall St overnight. 2nd session opened lower at 26987 and it went further lower to 26656 before finally closed the day at 27049. My theory was proven again here. Hangseng moved from 26656-27266 today.

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