As expected Asian market opened stronger but only by a little bit, which showed that market is still in holiday mood and was not going to move much today. Nikkei opened at 15680 and Kospi opened at 244.90. Hangseng is still closed for holidays.
Narrow trading range for Kospi today. Kospi opened at 244.90 and it touched its highest only at 245.30 within minutes of trading. After that, it played between 243ish-244ish for most of the day before going down to 242.80 near the end and closed the day at 243.90. Profit taking must've taken place today with investors closing up their positions towards the end of the year to enjoy the profit they've gotten so far this year. Kospi traded between: 242.80-245.30.
Nikkei rose for 4th straight day with Toyota raised its sales forecast for next year. However, profit takers also dominated the market over in Japan today. Let's see tonight's US market to see what's going to happen next for Asian markets.
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