Asian market preview 24/11/2008

US markets ended the turbulent week on a high note on Friday as markets soared on report that president-elect Barrack Obama have chosen his Treasury Secretary. Timothy Geithner, President of New York Fed, have been chosen to combat the US economic crisis. US markets are expected to stay volatile in the coming week with more economic data to come out in a shortened trading week because of Thanksgiving holiday. On Monday, president-elect Barrack Obama may be doing something really important where he will announce his team and may give a psychological boost to investors. He promised that he will create 2.5 million jobs by 2010. The Thanksgiving holiday will be used by markets to gauge the economic activity in the retail sector too. Lastly, unemployment data will be closely watched this week. The Dow ended up by 494.37 pts or 6.55% to 8,046.66, S&P500 shot up 47.57 pts or 6.32% to 800.01 while Nasdaq rose 68.23 pts or 5.18% to 1,384.35.

Asian markets may open higher today following the jolt of confidence in the US over the appointment of Timothy Geithner to become Treasury Secretary for Barrack Obama. Investors may find this as an opportunity to buy up stocks which were beaten down last week. Oil was closed at $49.30 per barrel, gold was closed at $791.80 and JPY was closed at 95.67. Nikkei futures was closed at 7900 in CME compared to the close of 7700 here on Friday. Nikkei will be closed for holiday today.

Kospi may open higher and may continue its rally from Friday today following the US markets boost. Investors may finally find some reason to buy stocks and may build from Friday's rally. Lower oil also put inflationary pressure at rest as oil prices get lower than $50 per barrel. Kospi may find its support at 127ish and its resistance at 137ish today.

Hangseng may open higher and may go further as US markets were boosted on Friday and China's nuclear expansion program. Confidence may drive investors to buy into stocks today and hopefully the rally can last this time. Hangseng may find its support at 12500ish and its resistance at 13600ish today.

Asian market preview 21/11/2008

US markets plunged again last night to levels not seen since 1997 for S&P500 and the rest of major markets touched the lows formed in 2002. Financials and energy sector led the tumble in the markets today. Investors feared that the government's financial rescue won't be sufficient to cover banks' losses. Meanwhile, a 7% drop in crude prices hurt energy sector pretty bad last night. Investors are also concerned that the automakers bailout plan have hit a wall as Democratic leaders postponed another proposal by automakers to Dec 2. However, the pullback last night was seen as encouraging by some analysts as the selling volume was heavy last night and that was exactly what they were looking for. Heavy selling came after the markets breached a 5-year technical resistance point and fear took over for investors and they continue on selling. Markets are still looking for a bottom to get the turnaround they needed. Meanwhile, the number of people seeking unemployment benefits rose to 25 year high as shown by government data and a regional manufacturing gauge slumped as economic misery intensified. The Dow ended down by 444.99 pts or 5.56% to 7,552.29, S&P500 tumbled 54.14 pts or 6.71% to 752.44 while Nasdaq fell 70.30 pts or 5.07% to 1,316.12.

Asian markets may fall again today and some may re-test the lows touched in October. Fear and pessimism seem to be gripping the markets now as investors are afraid to make big investments around the region. Global economic outlook seem to be very gloomy now as the US recession deepened. More investors may also dump shares today ahead of the weekend and they want to preserve the leftover cash they have now. Oil prices plunged as investors fear that demands will keep faltering well into the next year. Crude oil was recently traded around $49.40ish per barrel, gold traded around $748.70. Gold rose as investors saw it as an alternative and safer investment during this time. JPY was recently traded around 94.13ish and Nikkei futures was closed at 7350 compared to the close of 7560 here yesterday. Nikkei may trade between 7000ish and 7500ish today.

Kospi may open lower yet again today and may test the October intraday lows today. Nervous investors may dump stocks again today. The losses may be intensified by Posco as its US ADRs fell 9.1% last night in US trading. Foreigners may keep running away from the local market, selling and try to hold cash from whatever stocks left to sell. Kospi may find its support at 115ish and its resistance at 125ish today.

Hangseng may open lower today following another huge selloff in the US which saw markets touched 11-year lows last night. More fear and uncertainties may grip investors today and they may decide to dump stocks. Petrochina may lead the losses as energy prices tumbled following the diminishing global demands. China mainland markets may also play a significant part to determine how deep the market will fall today. Hangseng may find its support at 11300ish and its resistance at 12300ish today.

Asian market preview 19/11/2008

US markets staged a late rally last night in another turbulent session as investors rushed back into the markets after the S&P500 market tested 2003 low. Investors, who have been sidelined for the past 4 out of 5 sessions, used the momentum to buy into stocks and joined in the rally. At least, one of the reasons of the rally was because fund managers had to find replacement for Anheuser-Busch Cos. as it will be officially removed at markets' close after it completed its takeover by Belgium's InBev SA. Another reason of the rally was because Hewlett-Packard reported better than expected earnings and provided a strong projection for Q4 and 2009. Overall markets sentiment is still negative as there are still many bad news regarding the bigger economy picture. The Labor Department reported that wholesale prices plunged the most in October and meanwhile, homebuilders' confidence sank to a new all-time low this month. Analysts believed that markets are still trying to find its real bottom and volatility will stay for quite a while as fears of a deepening recession grip the markets. Markets will need more strength from here for a period of time to develop a convincing story that the market has bottomed. The Dow ended up by 151.17 pts or 1.83% to 8,424.75, S&P500 rose by 8.37 pts or 0.98% to 859.12 while Nasdaq rose 8.37 pts or 0.98% to 1,483.27. Meanwhile, the congress and Bush administration are debating as to how to save the big 3 automakers. Congress proposed to use part of the $700 billion bailout money but Bush's administration said that there are other ways to save the automakers.

Asian markets may open higher today after plunging yesterday and may stay above the positive territory today as bargain hunters kick in. As analysts have said so many times, markets everywhere will be testing and retesting October lows and try to find the bottom before the markets find strength to stage a strong rebound. Crude oil fell yet again as investors see easing demands in the coming quarters. Oil was recently traded around $54.40ish per barrel, gold traded around $737.60ish and JPY traded around 96.90ish. Nikkei futures was closed at 8450 in CME compared to the close of 8285 here yesterday. Nikkei may trade between 8100ish and 8600ish today.

Kospi may open higher today following a late recovery in US markets and some bargain hunters may try to get into the market after Kospi lost almost 4% yesterday. The overall global economy may still weigh on the market but investors' confidence may be built little by little as share prices look so very attractive at current levels. Chip makers may lead the way after positive guidance from HP over in the US last night. Lower oil prices may also make investors to think that with inflation threat is diminishing, the government have more room to jolt the economy back into life. Kospi may find its support at 132ish and its resistance at 139ish today.

Hangseng may open higher after plunging almost 5% yesterday following a US markets' rebound and support from regional markets. Bargain hunters may come in and buy stocks at current levels. However, China mainland markets may also play a part to determine whether Hangseng will stage a strong rebound or it will go back down again today. Hangseng may find its support at 12400ish and its resistance at 13300ish today.

Asian market preview 18/11/2008

US markets plunged again last night on the first trading day of the week. The fear of a deepening recession caused investors to dump stocks in a very volatile session. The financial sector is still showing struggling signal as Citigroup Inc. is cutting another 53,000 jobs and it plans to lower expenses by about 20%. Investors are also still waiting whether the troubled automakers would get a bailout from the $700 billion package. Industrial output came in better-than-expected last night, rising 1.3% compared to the 0.2% increase predicted by analysts. However, this figure is not encouraging enough as investors are still nervous about the bigger economy picture and there are more bad news compared to that single good news. Meanwhile, corporate earnings seems to have hit the wall and investors are unsure when it will recover. Retailers kept posting smaller revenues or forecasting weaker earnings in the coming quarters as consumer spending slowed. Wall Street was also disappointed as there are lack of directions taken to resolve the current crisis by the G-20 meeting over the weekend. The Dow ended down by 223.73 pts or 2.63% to 8,273.58, S&P500 fell 22.54 pts or 2.58% to 850.75 while Nasdaq ended lower by 34.80 pts or 2.29% to 1,482.05

Asian markets may open lower today following more bad news and more nervousness came out of the US last night. However, regional markets proved to have shown a bit of resilience yesterday as some of them managed to stay positive. Those performances yesterday may yet be tested again today whether investors still have the slight confidence in them to invest in Asia. Crude oil prices fell last night to close at 22-month low and was recently traded around $55.10ish per barrel, gold traded around $736ish and JPY traded around 96.35ish. Nikkei futures was closed at 8420 in CME compared to the close of 8415 here yesterday. Japan's Nikkei rose yesterday despite reports showing that the country is in a recession. Nikkei may find its support at 8100ish and its resistance at 8600ish today.

Kospi may open lower today following more fears shown by the US investors as they dumped stocks in the US trading session last night. However, Kospi may follow regional markets' trading pattern today. Kospi may show more resilience today as investors may look up for cheap stocks and invest for long-term. Kospi may find its support at 136ish and its resistance at 145ish today.

Hangseng may open lower yet again today following the same regional pattern. Baidu.com may weigh in the China mainland markets which may also weigh on Hangseng today. Morgan Stanley and Merril Lynch raised concerns about Baidu's listing practices as it seems that the company provided top positions for unlicensed medical web sites willing to pay more for popular key words. Hangseng may find its support at 12900ish and its resistance at 13700ish today.

Asian market preview 17/11/2008

US markets were closed sharply lower on Friday as investors cashed in after a big rally the day before and return their focus on the economy. Hedge fund selling ahead of a Saturday deadline contributed most of the markets' downturn. There were plenty discouraging news about the economy including comments from Fed chairman, Ben Bernanke saying that the markets remain under "severe strain" and a sobering report on October retail sales. Analysts believe that the markets are still searching for a bottom after last month's heavy sell-off and investors are just too nervous to invest for long term. Ben Bernanke also noted that he would work closely with other central banks and left the door open for a fresh round of interest rate cuts. This news did not cheer investors too much as they aren't sure how effective these rate cuts are going to be. The Commerce Department reported that October retail sales fell by 2.8%, surpassing its old lowest mark of 2.65% drop in November 2001 after the terrorist attacks. Now, investors are confirmed that the economic slowdown is going to last to next year and maybe more and that 2009 will be a very bad year for economic activity. The only concern is that investors are still unsure of how bad the slowdown is going to be next year. The Dow ended down by 337.93 pts or 3.82% to 8,497.31, S&P500 fell 38.00 pts or 4.17% to 873.29 while Nasdaq fell 79.85 pts or 5% to 1,516.85.

Asian markets may open lower and start the week weaker today following more downturn in the US on Friday. Bernanke's comments may weigh on investors sentiment today and concerns about the overall economic activity may cause investors to think twice before going in the market. Investors may also cashed out after staging a recovery rally on Friday for the regional markets. However, seeing at how things are going, investors may already realized that the global economy is going to slow further and if markets fell too much today, bargain hunting may kick in again. Oil prices also fell on Friday and was closed at $57.04 per barrel, gold was last traded at $742.50 and JPY last traded at 97.07. Nikkei futures was closed at 8460 at CME compared to the close of 8575 here on Friday.

Kospi may open lower today following US markets' tumble on Friday on fresh economic concerns. Investors may also be eyeing the PPI figure due to come out today to determine the general market direction. Markets may also be pressurized as there are no strong action at the weekend G-20 meeting that take place from Saturday in Washington. However, if markets fell too much, bargain hunters may kick in yet again as they see this as an opportunity. Kospi may find its support at 137ish and its resistance at 147ish today.

Hangseng may open lower today following the tumble in the US markets on Friday and also as there are no fresh new ideas of support from the G-20 meeting. Lower oil prices may eventually help the general markets but in the near term, investors are focusing on the global economic slowdown and that may cause investors to become nervous and may led to a selloff today for Hangseng. China mainland markets may play a part today to give support to prevent Hangseng from falling too deep. Hangseng may find its support at 12800ish and its resistance at 13800ish today.

Asian market preview 14/11/2008

US markets soared last night with major markets rising more than 6% after investors feel that recent pullbacks have been too much and they do not want to miss the opportunity to get cheap stocks. Markets started the day lower after Labor Department reported that newly laid-off individual seeking unemployment benefits rose to its highest last week since Sept 11, 2001. Signs of worsening consumer spending was also shown as Wal-mart and Intel cut its full year earnings and sales forecast. However, when the markets managed to stay above Oct 10th intraday lows, investors took it as an opportunity and buy stocks so that they won't miss out on the rally. Investors are also partly hopeful about the G20 meeting to be held over the weekend in Washington. Analysts said that this situation is what they've been expected where markets retest its multiyear lows formed on Oct 10th and tried to build its base from there while its recovering gradually. Markets are predicted to see more volatilities for some time before it can find its upward trend. The Dow ended up by 552.59 pts or 6.67% to 8,835.25, S&P500 rose 58.99 pts or 6.92% to 911.29 while Nasdaq soared 97.49 pts or 6.50% to 1,596.70.

Asian markets may open higher today following the big rally posted on Wall St. Bargain hunters finally dominated the markets last night as greed overcame fear when markets are nearing its multiyear lows formed on Oct 10th. Regional markets may also follow the same pattern as investors may gauge that markets have priced in enough for the current set of bad news. As stocks rally, oil prices also rally and crude oil was recently traded around $58.20ish per barrel, gold traded around $705ish and JPY traded around 97.65ish. Nikkei futures was closed at 8830 in CME compared to the close of 8260 here yesterday.

Kospi may open higher and may follow same pattern as the US as bargain hunters seek cheap stocks. The fundamentals are still the same with global economy weakening but as stocks are fairly cheap at current levels, investors may want to buy the stocks and do not want to miss out on early rallies such as this. With oil managed to stay below $60 per barrel, recession fears also subsides and government worldwide may cut retail gas prices to curb inflation. Kospi may find its support at 147ish and its resistance at 155ish today.

Hangseng may open higher today and may follow the same pattern as the US markets and regional markets today. Market may be further boosted by oil related companies as oil rallied last night. China mainland markets may also play a significant part to determine whether Hangseng will join the huge rally or not. Yesterday, China's markets were one of the few regional markets that managed to stay positive. Measures from the Chinese government seems to still have positive impact for investors. Investors may also placing their bets that some positive outcome to come out of the G-20 meeting to be held over the weekend in Washington. Hangseng may find its support at 13600ish and its resistance at 14500ish today.

Asian market preview 13/11/2008

US markets tumbled yet again last night, with major markets falling more than 4% as investors got disheartened after the government said that they won't purchase troubled assets from banks. This decision however, bring different views as some analysts believe that it is the right thing to do for the government not buying troubled mortgage-assets from banks as it would take a very long time while some other analysts concerned that the bailout funds depleted way too fast. Investors got more nervous as more companies showed signs of being hurt by the pullback in consumer spending. Macy's Inc. said that it lost $44 million in third quarter as sales fell more than 7%. Meanwhile, consumer electronics retailer Best Buy Co. slashed its fiscal 2009 guidance on fears that consumer spending will slow further. These news came on top of disappointing news from Starbucks Corp. and homebuilder Toll Brothers Inc. the day before. Analysts believed that the markets are in a typical process of testing and retesting its intraday low hit on Oct 10 and investors do not want to hold stocks overnight in times like this. The Dow finished down by 411.30 pts or 4.73% to 8,282.66, S&P500 fell 46.65 pts or 5.19% to 852.30 while Nasdaq fell 81.69 pts or 5.17% to 1,499.21.

Asian markets may open lower yet again today following another sharp drop in US markets last night. Investors confidence is being eroded bit by bit in this situation and it may made them lose faith to buy stocks in the regional markets. Oil sensitive stocks may fall again today as crude oil fell below $57 per barrel on fear that global economic growth will slow more than initially feared next year. Crude oil was recently traded around $55.90ish per barrel, gold traded around $711.40ish and JPY traded around 94.80ish. Nikkei futures was closed at 8180 in CME compared to the close of 8610 here yesterday.

Kospi may open lower today following more bad news about slowing consumer spending in US and after the US government reiterated new plans to rescue the financial system. The weakening Won may not help investors too as foreigners dump more stocks in the country. However, if the market fall too much, there may be some bargain hunters who would come in and buy stocks for long term as current stock prices are at a very cheap levels. Kospi may find its support at 140ish and its resistance at 150ish today.

Hangseng may open lower again today following more bad news from the US and on concerns that consumer will spend less around the world. However, strong China's retail figures may help stocks today as it showed that global slowdown do not affect Chinese local markets too much. China's retail sales rose 22% in October, close to its fastest pace in nine years. Bargain hunters may emerge if the market fall too much today. Hangseng may find its support at 12800ish and its resistance at 13900ish today.

Asian market preview 12/11/2008

US markets closed lower again last night on more worries that the drop in consumer spending will hurt all sector including luxury home builders, coffee sellers and car makers. Investors realized that it's becoming really hard to rely on average consumers to pull the economy out of its downturn after Starbucks Corp. reported lower sales across its coffee chain and Toll Brothers Inc. posted a sharp drop in revenue and said its hard to predict what the luxury homebuilder's profit would be next year. Meanwhile, Wall Street is also waiting for bailout from the federal government to help the ailing automakers after GM shares plunged to 60-year lows. Investors are more worried as they're uncertain on how bad the situation they're really in and analysts predicted that markets will have its wild swing within this range and will not be able to recover fully until they know for sure about the depth of the recession. More bailout money have been made available to AIG and American Express Co. have become a commercial bank. The Dow ended the day lower by 176.58 pts or 1.99% to 8,693.96, S&P500 fell 20.26 pts or 2.20% to 898.95 while Nasdaq fell 35.84 pts or 2.22% to 1,580.90.

Asian markets may open lower again today following another drop in US markets last night on more worries about consumer spending. Depending on how the markets and investors will take it around the region, another big drop in the markets may signal more buying opportunity for long-term investors. However, if there are no positive news to come out from Asian region, it's inevitable for the markets to make further pullbacks. The drop in oil prices may hurt producers today but it may prove to be good in long term. Oil was recently traded around $58.90ish per barrel, gold traded around $731.20ish and JPY traded around 97.60ish. Nikkei futures was closed at 8500 in CME compared to the close of 8700 here yesterday.

Kospi may open lower again today following more drops and more pessimism to come out of the US markets last night. Lower oil prices may hurt oil related companies and worries about consumer spending may also hit retailers in the country. Global economic outlook seems weaker than before and this may weigh on the market and cause more foreign investors to flee the market today. Kospi may find its support at around 140ish and its resistance at around 152ish today.

Hangseng may open lower today following another round of fresh worries from the US markets. CNOOC is seen to trade lower as its ADRs in the US fell 8.3% on lower oil prices. China mainland markets may hurt Hangseng too today as more companies reported lower earnings. Investors may find it hard to be optimistic and buy stocks today although the stock prices seem to be quite attractive. However, if there's another very sharp drop today, long term investors and bargain hunters may kick in and start collecting. Hangseng may find its support at 13000ish and its resistance at 14300ish today.

Asian market preview 11/11/2008

US markets ended the day lower last night as optimism over China's stimulus package fades. Investors are still worried about the economy and they're not sure how deep and how long the recession will last in the US. Markets initially opened much higher on new found optimism as China's government unveil its $586 billion stimulus package and also the G-20 nations said it will act urgently to bolster growth while calling governments to cut interest rates. Profit outlook and growth forecasts weigh on stocks in the afternoon. Goldman Sachs may report a loss of $2.50 a share and that sent the stock to fall 8.5% while Google Inc. may report a lower revenue and profit in 4th quarter due to deteriorating online ads demand. Meanwhile, General Motors lost 23% as analysts predicted its stocks may go down to zero and cut its recommendation to sell from hold. The Dow fell 73.27 pts or 0.82% to 8,870.54, S&P500 fell 11.78 pts or 1.27% to 919.21 while Nasdaq fell 30.66 pts or 1.86% to 1,616.74.

Asian markets may open lower following more economic woes from the US and as investors may still find it hard to get the mood to turn over the market from bearish to bullish. Nervous investors may want to take their money off the table after quite a huge rally yesterday. However, some investors may think that the Chinese stimulus package may help the regional markets and may still want to buy stocks for long term purposes. Crude oil price looked steady and was recently traded around $62.25ish per barrel, gold traded around $745.20ish and JPY traded around 98ish. Nikkei futures was closed at 8940 in CME compared to the close of 9290 here yesterday.

Kospi may open lower today following the fall in the US overnight. Concerns on the health of US economy may drag stocks lower today as investors may think that weak economy will hurt demands and growth worldwide. The recession is deepening in the US with job losses at record high and investors do not have a clue as to how bad the recession will have its impact globally. Kospi may find its support at 145ish and its resistance at 157ish today.

Hangseng may open lower today following US markets' fall last night. Investors may have a profit taking session today as there are still more concerns about the whole global economy. China mainland markets may determine whether Hangseng will fall sharply or will it hold steady. Chinese stocks still rise last night in US trading and that may have impact on today's trading session. Hangseng may find its support at 14000ish and its resistance at 15300ish today.

Asian market preview 10/11/2008

US markets were closed higher on Friday as bargain hunters scooped up cheap stocks which are at multiyear lows. The highly anticipated October jobs report which was due out on Friday did little to shock investors as analysts from Goldman Sachs have predicted of up to 300,000 jobs was cut in October. The reports came in at 240,000 job cuts and was above the median forecast of 200,000 jobs lost. Trading volumes was moderate on Friday and price swings were not as bad as previous sessions. Oil stocks and defensive stocks led the rally on Friday as investors chose their stocks carefully. The Dow ended up by 248.02 pts or 2.85% to 8,943.81, S&P500 rose 26.11 pts or 2.89% to 930.99 while Nasdaq climbed 38.70 pts or 2.41% to 1,647.40. For the week, all markets lost about 4% and marked the worst presidential election week for the Dow since 1948.

Asian markets may open higher today and may stage another rally on optimism that all countries are doing everything they can to avoid further disaster in the global economic downturn. The $586 billion stimulus package unveiled by Chinese government over the weekend may give boost to regional markets. Investors are also trying to be part of the rally as they may find bargain stocks right about these price levels. Oil prices which stayed above the psychological $60 level may also provide support to oil producers. Oil was last traded at $61.04 per barrel, gold traded at $734.20 and JPY traded at 98.32. Nikkei futures was closed at 8850 in CME compared to the close of 8700 here on Friday.

Kospi may open higher today as US investors shrugged off bad jobs data and greed prevails over fear. Bargain hunters may lead the market higher today and the aggressive rate cuts performed by the BoK may show investors that the government is willing to do anything to save the economy. BoK cut its interest rates by 25 basis points to 4% and it signaled the 3rd rate cut in a month. Kospi may find its support at 147ish and its resistance at 157ish today.

Hangseng may open higher and may continue Friday's rally after US staged a rally on Friday despite bad economic data. The stimulus package unveiled by the mainland Chinese government may provide some boost to the market today and may given investors more reason to buy and join in the rally. Oil sensitive stocks may rise today as oil price is looking steady above $60 per barrel. Hangseng may find its support at 13800ish and its resistance at 15000ish today.

Asian market preview 07/11/2008

US markets tumbled last night in a worst 2-day slump since 1987, where markets lost about 10% in total on economic fear. The losses are triggered by Cisco Systems as they issued warning of slumping demand and also as retailers reported weak sales for October. Adding to investors' list of worries, the labor department said the number of people continuing to draw unemployment benefits jumped to a 25-year high, increasing 122,000 to 3.84 million in October. New claims for unemployment benefits dipped by 4,000 to 481,000 last week but the levels remained high. These levels added to the worries by investors who are waiting anxiously for the October employment report due to come out on Friday, which is the most watched barometer of economy's health. Light trading volumes add to the volatility in the markets last night. Analysts also believed that some pullbacks is expected after a recent 6-days run up which saw markets surged more than 15%. Many investors are still waiting on the sidelines and prefer to wait as the markets are in the process of finding the real bottom. Investors are also curious as to what the new elected president, Obama's plan will bring to the economy. The Dow ended down by 443.48 pts or 4.85% to 8,695.79, S&P500 fell 47.89 pts or 5.03% to 904.88 while Nasdaq fell 72.94 pts or 4.34% to 1,608.70. Over the past 2 days, the Dow lost 9.7%, S&P500 lost 10% while Nasdaq lost 9.6%.

Asian markets today may open lower following the 2-day rout in the US after more weak economic readings spooked investors who are still nervous and try to find markets' bottom. Investors also took the opportunity to quickly cash out after the markets made a huge comeback rally since last week. Asian markets tumbled yesterday and may even fall further today as investors are also waiting for more news from the US to gauge how bad and deep the recession problem in the US really is. Crude oil also fell last night on more economic concerns and was recently traded around $60.50ish per barrel, gold traded around $732.10ish and JPY traded around 97.45ish. Nikkei futures was closed at 8390 in CME compared to the close of 8700 here yesterday.

Kospi may open lower today and may extend its losses from yesterday. More economic worries in the US and fears that it may spread globally may make investors to take the money off from the stock market. Foreigners who have been net sellers may sell more today and may trigger local investors to follow the same patterns. However, long term investors may treat this as the usual case for bear markets and may take this as an opportunity to buy more stocks and collect more. Kospi may find its support at 132ish and its resistance at around 140ish.

Hangseng may open lower today and may extend its losses from yesterday on more worrying economic data from the US. More declines in commodity prices may weigh on the market further. However, China mainland markets have been quite steady for the past week and investors may take cue and may collect stocks at current discounted prices. Long term investors may find this as more opportunity to buy more stocks as the markets are re-testing the bottom formed on October. Hangseng may find its support at 12600ish and its resistance at 13300ish today.

Asian market preview 31/10/2008

US markets closed higher last night in a relatively calm trading session after GDP reports showed better-than-expected results. Last night's trading session was less erratic compared to the previous sessions this month where markets swung in 500 points range. The Commerce Dept reported that GDP fell at an annual rate of 0.3 compared to the decline of 0.5 expected by analysts. However, the measure still pointing to an economy contraction in Q3 and analysts are predicting that high market volatility will continue on for several months. Investors still remained cautious about the whole economic outlook and corporate earnings may remain grim for sometime. If earnings report showed more negativity, investors may test markets' low again and heavy sell-offs can be seen in the coming months. The Dow ended up by 189.73 pts or 2.11% to 9,180.69, S&P500 rose 24.00 or 2.58% to 954.09 while Nasdaq rose 41.31 pts or 2.49% to 1,698.52.

Asian markets may open rather flat today following the mild rise on Wall St last night on better GDP report. Asian markets may continue its rally today but may not rise as much and may even have a profit taking session after 3 days of huge rallies. Cautious investors may take their recent winnings off the table as GDP report in the US still showed that economy is contracting though not as bad. Oil prices also declined as economy slows in the US. Oil was recently traded around $65.65ish per barrel, gold traded around $738.50ish and JPY traded around 98.70ish. Nikkei futures was closed at 9020 in CME compared to the close of 9025 here yesterday.

Kospi may open rather flat with an upward bias in the morning and building from its huge rally yesterday after recouping its losses the day before on false rumor. Kospi may extend yesterday's rally but may also give up its rally later on in the day. Profit taking may take place towards market close as weekend is around the corner and investors may want to take recent winnings off the table. Kospi may find its support at 136ish and its resistance at 145ish today.

Hangseng may open higher today following the rise in US markets and good earnings report so far. However, bad earnings from Bank of Communications may cause investors to have a profit taking session today after recent run ups which took Hangseng up by more than 20% in 3 days. Investors may turn cautious again today ahead of the weekend and may lock in recent gains. Hangseng may find its support at 13500ish and its resistance at 14300ish today.

Asian market preview 30/10/2008

US markets were closed mixed last night even after The Fed has given markets the rate cut they wanted. Markets shot up higher in the last hour of trading but gave up its gains in the final minutes of trading. Analysts were baffled and there are mixed views as to why markets turned south at the final minutes. Some analysts believed that investors were just trying to rush and lock in profits after a big jump in the markets a day before and others cited reports of a lackluster profit forecast at General Electric Co. The markets are still digesting what The Fed rate cut means to the overall economy and what the comments sent out by The Fed really means. Analysts said that The Fed's message means that the economy is slowing but the risk of a deep recession can be avoided. The Dow ended the day down by 74.16 pts or 0.82% to 8,990.96, S&P500 fell 10.42 pts or 1.11% to 930.09 while Nasdaq rose 7.74 pts or 0.47% to 1,657.21.

Asian markets may open rather flat with upward bias today following the much anticipated rate cut by The Fed and as traders around the region may think that the markets have been heavily sold off. Markets may make further advances today on believe that central banks worldwide are going to do everything they can to get out of this mess. Crude prices also rose last night and was recently traded around $68.16ish per barrel, gold traded around $758.70ish and JPY traded around 97.42ish. Nikkei futures was closed at 8550 in CME compared to the close of 8320 here yesterday.

Kospi may open higher today after having a rough rollercoaster ride yesterday. Kospi was opened much higher yesterday and it dipped downwards in the afternoon after a rumor came out saying that the country needs help from IMF to stay afloat. It swung from +8% to -10% in the afternoon and then was closed at -4% at the end of the day. South Korean official later dismissed that rumor and that brought some calm to the market. Kospi may have a rally today after The Fed cut its interest rate to 1% and traders may even believe that BoK will do further to make more easing to stimulate economic growth. Kospi may find its resistance at 140ish and its support at 125ish today.

Hangseng may open higher today and build on yesterday's gains. However, trading may be highly volatile today as investors may try to lock in profits after recent big gains in the market. Good earnings report from Bank of China and China Cosco may push the index higher today. However, weak investors' sentiment may push markets downward too. Hangseng may find its support at 12300ish and its resistance at 13300ish today.

Asian market preview 29/10/2008

US markets had an astounding advance last night, with markets rose more than 10% and the Dow locking in a 890 points rise which was the 2nd biggest compared to the 936 points advance on Oct 13. There are no new fundamentals to support the rally last night and analysts believed that bargain hunters came in and built the rally from early in the session. Greed have replaced fear for now as some analysts said but they are still mostly pessimistic that the rally won't hold. The rally came as optimism rose that The Fed will cut its interest rate by 50 basis points at the end of its 2-day policy meeting today. Investors also looked past consumer confidence data, which fell to 38 compared to 51 expected by analysts. Analysts believed that there's a fire sale going on for stocks around the world and bargain hunters have come in to buy them now as they feel that the markets' plunge was overdone. The Dow surged 889.35 pts or 10.88% to 9,065.12, S&P500 rose 91.59 pts or 10.79% to 940.51 while Nasdaq rose 143.57 pts or 9.53% to 1,649.47.

Asian markets may open higher today and advance further following yesterday's big rebound. Stocks are really cheap compared to companies' valuation and investors may realize now that it is the right time to buy stocks for long term profitability. Even after companies gave out disappointing results, stocks still advance like Honda. There's also a growing speculation that BoJ is leaning toward cutting its interest rate to 0.25% and that fueled carry trade for JPY. Meanwhile, oil prices seen steady with downward bias too and was recently traded around $62.73ish per barrel, gold traded around $740.50ish and JPY traded around 98.20ish. Nikkei futures was closed at 8110 in CME compared to the close of 7590 here yesterday.

Kospi may open higher today following the big jump in US markets last night and Kospi may advance further as investors may start coming in again to buy stocks. Bargain hunters may dominate the market today as stocks are seen to be quite cheap now. However, volatility may still be high as there are no apparent good news to support the big rally in the US or for South Korea. The fundamentals are still the same as yesterday or last week. Kospi may find its resistance at 145ish and its support at 137ish today.

Hangseng may surge higher today and may build from yesterday's big rally. The good earnings from CNOOC may boost Hangseng but the prospect of bad earnings from Sinopec, Air China may limit its rally today. However, with stocks have fallen so much in recent days, greed may replace fears today and stocks may have quite a rally. Hangseng may find its resistance at 13500ish and its support at 12800ish today. More US economic data still to come out tonight and that may also limit the gains for Hangseng and other markets around the region as investors are still quite nervous.

Asian market preview 27/10/2008

US markets were closed lower yet again on Friday on belief that global recession is at hand. Markets fell after more grim corporate outlook came out on Friday. First it was Sony which triggered heavy selling in Japan, then automaker Daimler also reported grim outlook in Germany. These reports came following Microsoft's earlier report which issued a weaker-than-expected forecast for the coming quarter. All these bad corporate news added to the anxiety in the markets and sent panic all over investors' minds. Investors are convinced that the world economy is headed for a severe downturn even as governments raced to revive credit markets on the hope that a normal lending levels by banks will fan economic activities. However, some analysts believed that recent pullbacks were caused by forced selling attributed to margin calls and investors in hedge funds and mutual funds are cashing out. Technically markets worldwide are way oversold but bargain hunters who wanted to come in was kept at bay as selling pressure continues. The Dow ended down by 312.30 pts or 3.59% to 8,378.95 after falling more than 500 pts in early trade. S&P500 fell 31.34 pts or 3.45% to 876,77 while Nasdaq fell 51.88 pts or 3.23% to 1,552.03.

Asian markets may open lower again today following more corporate bad news and a fall in US markets. However, in a very oversold market, investors may finally find some bargain to buy stocks. The low oil prices may come in as a good boost as inflation pressure have eased a lot with energy prices came in at around $60ish per barrel. The prospects of more bad economic data to come out of the US may put further pressure on markets globally. Oil was recently traded around $64.80ish per barrel, gold traded around $737.70ish as gold is seen as a safe-haven in these troubled times. Nikkei futures was closed at 7550 in CME compared to the close of 7290 here on Friday.

Kospi may open slightly higher after plunging more than 10% on Friday. Investors may be encouraged a little bit as BoK called an emergency meeting on Monday to discuss what analysts believe to be another rate cut. If the rate cut does come, it may give a temporary boost to the stock markets but that boost may only be seen as an opportunity for investors to cash out as investors are still fearful of global market outlook. However, that being said, the Kospi was too oversold and it posted a record weekly decline last week. Kospi may find its resistance at 133ish and its support at 120ish today.

Hangseng may open slightly higher after a series of selling off in the market last week. Weak investors' sentiment have put Hangseng under pressure and weak economic outlook from major banks also contributed to the selloff. However, with possible further action from governments in China and Hong Kong, markets may see a temporary rebound as bargain hunters may start to come in and collect the cheap stocks. Hangseng may find its support at 12000 and its resistance at 13500ish today.

Asian market preview 24/10/2008

US markets ended a very volatile session last night mixed but showed some positive signs that bargain hunters are again trying to get back into the markets. The battle between bargain hunters and investors who are trying to cash out caused a very volatile environment for the markets. Analysts believed that investors are trying to find big names stocks and buy them up after being battered for the past 2 sessions. However, whenever the markets rally, nervous investors sold off their holdings as they are concerned about the state of the global economy and fear of a prolonged recession. The rally in the markets last night was led by energy companies as oil prices rose from its 16-month low as OPEC said that they would cut production amid falling demands. Tech stocks still got a beating as Amazon and Sandisk weigh on that sector. Meanwhile, labor department reported that new application for unemployment rose 15,000 last week to 478,000 slightly higher than the 470,000 predicted by analysts. Jobless claims above 400,000 signaled a recession and this is what investors are afraid of. Most of them are struggling to accept the reality that the US is indeed in recession and still believed that they can 'avoid' a recession. The Dow ended up by 172.04 pts or 2.02% to 8,691.25, S&P500 rose 11.33 pts or 1.26% to 908.11 while Nasdaq fell 11.84 pts or 0.73% to 1,603.91.

Asian markets may open slightly on the upside following a mild rally on Wall St overnight. Markets around the region may rebounded today but remain highly volatile as investors still struggling with the state of global economy. Slightly higher oil prices may give a boost to energy producers. Bargain hunters also may come in and seek cheap stocks after the markets only rose once in the past 5 sessions. Oil was recently traded around $69.17ish per barrel, gold traded around $724.90ish and JPY traded around 97.40ish. Nikkei futures was closed at 8300 in CME last night compared to the close of 8215 here yesterday.

Kospi may open slightly on the upside and may prompt some bargain hunters who may cause a rally early in the morning. However, with investors remain very nervous, any rally may be short-lived and may prompt investors to see that as an opportunity to cash out. The weakening Won again may weigh on the market and weak investors' confidence may cause Kospi to fall even further. Earnings results from Samsung Corp. may prove crucial to determine whether Kospi can have a rally today or will it fall further. Kospi may find its support at 135ish today and its resistance at 145ish. If Kospi managed to fall below 135ish, it may prompt more panic selling and may even go towards 130ish or lower.

Hangseng may open slightly higher following a positive end to Wall St's volatile session last night. Hangseng may have small rallies and market may remain highly volatile in the current situation. Bargain hunters may try to enter the market again and try their luck this time to see if they can really find bargain stocks at these prices. China mainland market may again play a part to determine if Hangseng can have a sustainable rally today. Hangseng may find its support at 13600ish and its resistance at 14300ish today.

Asian market preview 23/10/2008

US markets fell sharply again last night and continued its downturn as investors' worries shifted from credit to health of corporate earnings and the future of economic growth. Markets fell more than 4% with S&P500 closed at its lowest level since April 2003. Corporate profit forecasts, a jump in the dollar and falling oil prices showed that investors are fearful that an economic slowdown will sweep the globe even if lending begins to approach normal levels. Investors are expecting quarterly corporate results to be weak and they are in panic mode so heavy selling is inevitable as analysts believed. Credit markets continued to show signs of easing but investors are more worried now about the current economic condition and how long will this slowdown last. However, analysts are still optimistic as trading volume was light last night compared to the heavy trading volumes in the past 2 weeks when markets plunged at record levels. Analysts said it is quite normal to see this kind of volatilities when the markets are recovering from heavy selling and when markets are searching for its real bottom. The Dow plunged 514.45 or 5.69% to 8,519.21, S&P500 fell 58.27 pts or 6.10% to 896.78 while Nasdaq fell 80.93 pts or 4.77% to 1,615.75.

Asian markets may open lower again today and may extend its decline on global economic worries. However, as markets reaching towards its lowest points formed just recently, bargain hunters may come in yet again to buy stocks at fire sale prices. Many analysts believed that global stock prices have become very cheap right now if they compare it to the Price/Earnings ratio. However, analysts also believed that whenever markets rally, it would only be a reason for investors to sell their holdings. Oil prices tumbled last night as dollar gained strength and as US stockpiles rose last week. Oil was recently traded around $67.55ish per barrel, gold traded around $726.60ish and JPY traded around 98.00ish. Nikkei futures was closed at 8200 in CME compared to the close of 8500 here yesterday.

Kospi may open lower again today and may continue its downward path as investors are desperate to sell their stocks and as foreigners also continued to do heavy sellings on Korean stocks. Gloomy economic outlook for South Korea and the weakening Won may contribute further selling in the Kospi. Kospi may find its support at 136ish and its resistance at 143ish today.

Hangseng may open lower today following the US' further downfall last night on global economic worries. Hangseng may be supported by better-than-expected earnings by Baidu and maybe some other companies. Low oil prices may also finally contribute to the local economic outlook and inflationary pressure to ease further which will leave room for government to take further measure to boost economy. Hangseng may find its support at 13200ish and its resistance at 14000ish today.

Asian market preview 22/10/2008

US markets ended down last night on mixed earnings concern and investors took the opportunity to have some profit taking after a huge 400 pts rally the day before. Weak earnings report from Texas Instrument, Sun Microsystems, Freeport McMoran again caused investors to see gloomy outlook beyond Q4 and that sparked another sell-off in the US markets. However, analysts said that investors anxiety have lessened considerably compared with the past 2 weeks when fears took over the markets and battered stocks across the globe. Credit markets eased further in response to a sweeping series of bailout measures by world government, including a joint US and European plan to buy stakes in private banks to boost their lending. Right now, investors are watching the earnings front to gauge how bad the economy outlook is going to be while they're waiting for the bailout measures to work its way through the system. Until the credit market health turn to normal, markets will have these back and forth swings as analysts predicted. Among blue chips, DuPont Co. and Caterpillar both fell more than 5% on weaker earnings report and gloomy 2009 outlook. The Dow ended down by 231.77 pts or 2.50% to 9,033.66, S&P500 fell 30.35 pts or 3.08% to 955.05 while Nasdaq fell 73.35 pts or 4.14% to 1,696.68.

Asian markets may open lower today following another loss on Wall St last night. However, this time the losses on Wall St is not that significant compared to the past few weeks. Investors are more concerned about the earnings report and investors around Asia may also turn to its own local earnings report to find momentum for their markets. Governments worldwide have done whatever they can to help the credit system and investors have realized that it would take time for those measures to work. Crude oil prices fell overnight and was recently traded around $71.75ish per barrel, gold traded around $775.80ish and Nikkei futures was closed at 8980 in CME compared to the close of 9115 here yesterday.

Kospi may open lower today and may continue its downward path from yesterday if more gloomy earnings are to come out in South Korea. The weakening of Korean Won may again weigh on the stock market today. Investors may turn to local news and local earnings report to determine how far the market will continue its way downward or will it make another round of comeback today. Kospi may find its support at 150ish and its resistance at 155ish today.

Hangseng may open lower today following another round of selling in the US last night. Hangseng market may turn to China mainland markets for more news to determine market direction today. Government's plan to inject China's Agriculturual bank, more tax rebates for toymakers and textile exporters and also PetroChina's plan to expand may limit Hangseng's losses and may turn it to the upside. Hangseng may find its support at 14700ish and its resistance at 15300ish today.

Asian market preview 21/10/2008

US markets soared last night and ended more than 3% higher for all major markets on more signs of a reviving credit market and comments from Fed chairman Ben Bernanke. Investors saw that the Libor rate (bank-to-bank lending rate) has eased further and this brought some calm to the markets which have been heavily sold the past few weeks. Meanwhile Ben Bernanke also hinted that the government will take more steps to help the economy. The market liked what Bernanke had to say and with credit easing slowly, market realized that it is going to be a process. Analysts believed that the steps taken by government finally have some impact on investors' sentiment and that the not-so-dismal start to the earnings season contributed to the rally in the markets. Last night, oilfield services provider, Halliburton Co. topped estimates and said that any macroeconomic problems will ultimately correct themselves. Still, there are still much fears in the market as demand for treasury bills is still quite high. Analysts also believed that according to past history, recovering markets will face further turmoil in price swings and may even test their lows yet again. The Dow ended up by 413.21 pts or 4.67% to 9,265.43, S&P500 rose 44.85 pts or 4.77% to 985.40 while Nasdaq rose 58.74 pts or 3.43% to 1,770.03.

Asian markets may open higher today following Wall St big rally last night on optimism that the credit market is finally easing and that more steps will be taken by the US to support the weakening economy. Markets may not be fully confident and reverse course but short-term rally may take place and may get supported if earnings reports from local companies also give reason for investors to buy. Oil prices rose last night and was recently traded around $75.69ish per barrel, gold traded around $798.50ish and JPY traded around 101.90ish. Nikkei futures was closed at 9360 in CME compared to the close of 9025 here yesterday.

Kospi may open higher today following more optimism from the US. However, with much uncertainties still linger around the air, the Kospi may not have a full rally and may have wild price swings like it did yesterday. Kospi touched its lowest price this year yesterday at 150.85 and although it may not go to that point again today, volatility will remain quite high. Investors' confidence may not be fully restored as the process in recovering the global economic condition is quite slow. Some melamine problems found in biscuits may give some pressure on the market as well. Kospi may find its resistance at 167ish and its support at 160ish today.

Hangseng may open higher today and may continue its rally from yesterday following more optimism from the US regarding the credit crisis. However, the rally may not be fully supported as lower-than-expected earnings from China Mobile may weigh on the market after it helped the market in previous session. The losses in Citic Pacific may also weigh on the market and the overall performance of Chinese mainland markets may determine Hangseng's movement today. Hangseng may find its resistance at 16200ish and its support at 15300ish today.

Asian market preview 20/10/2008

US markets were closed just moderately lower on Friday as investors were cheered by signs of easing in the credit market and managed to absorb weak economic news. Volatility was still quite high and the expiration of Options contracts add to the swings in the markets. Analysts have believed that markets were way oversold in such a short time and now they feel that markets finally realized that governments all over the world are trying to do everything they can to stop this from happening, and now many investors are bargain hunting. Warren Buffet's encouragement to buy US equities also helped to boost stocks in early trade but gains were given back at the end of the session. In economic news, the government said that new home construction dropped by more than expected last month to the lowest pace since 1991. However, bad economic news have already been expected by investors and now they focussed on the credit market. Libor rate seemed to ease up a little bit and that cheered investors' mood on Friday. The Dow ended the session down by 127.04 pts or 1.41% to 8,852.22 but ended higher by 4.75% for the week. S&P500 lost 5.88 pts or 0.62% to 940.55 but ended higher by 4.6% for the week. Nasdaq fell 6.42 pts or 0.37% to 1,711.29 but ended the week higher by 3.75%.

Asian markets may open higher today and may continue its rebound after steep selloff on Thursday. The mild loss in the US on Friday may bring little impact compared to the heavy losses in the previous sessions this month. Some easing in the credit market may cheer investors' sentiment worldwide and may help global stock markets. The slight rebound in oil may also help energy companies around the region. Oil was recently traded around $71.85ish per barrel, gold traded around $787.70ish and JPY traded around 101.55ish. Nikkei futures was closed at 8730 in CME compared to the close of 8455 here on Friday.

Kospi may open higher today after the government announced that they will provide $100 billion guarantee for banks' foreign debts to ease dollar shortage. In addition, they will also supply $30 billion to local banks and exporters. Bargain hunting may also emerge after the market was hammered quite bad for the past 2 sessions, losing more than 12%. However, investors' confidence may not have been fully restored as there are still more uncertainties from the US and that investors are still nervous about the whole global economic outlook. Kospi may find its resistance at 165ish and its support at 158ish today.

Hangseng may open higher as losses in the US is quite mild on Friday compared to the previous sessions and investors may think that it is a positive sign with the credit market showed some signs of easing. Bargain hunting may emerge and may boost stock market today as Hangseng have been hammered pretty bad for the past 3 sessions, losing almost 15%. Analysts' view that the global markets were way oversold may also give some hope for investors to buy stocks and may boost market further. Hangseng may find its resistance 15300ish and may find its support at 14600ish today.

Asian market preview 17/10/2008

US markets continued on its high volatility ways last night and this time markets were closed to the upside by more than 4%. Markets were trading much lower early in the session as more bad economic data pushed markets downward. Investors were initially cheered by a better-than-expected reading on consumer prices. CPI for September came in flat compared to the 0.1% decline in August and the core index rose by 0.1%. Meanwhile, first time claims for unemployment declined last week. The Labor Department said new claims fell 16,000 to 461,000, below the 475,000 anticipated by economists. Still, total unemployment still points to recession. From the Philadelphia Fed, it said that regional manufacturing conditions weakened in October. The bank's regional index came in at negative 37.5 compared with a positive 3.8 for September. The news followed word from The Fed that production at the nation's factories, mines and utilities plunged 2.8% last month. Analysts believe that the current high volatilities in the markets will continue for some time as investors are really anxious about the economy. The Dow ended up by 401.35 pts or 4.68% to 8,979.26, S&P500 rose 38.59 pts or 4.25% to 946.43 while Nasdaq rose 89.38 pts or 5.49% to 1,717.71.

Asian markets may open higher today following the jump for the US markets last night and may continue to follow the high volatility path like the US markets. Better-than-expected earnings from Google and IBM may help push tech stocks in the Asian region as well. Bad economic outlook may still weigh on the markets but bargain hunting may come in and buy the already heavily discounted stocks. Crude oil prices also fell to below $70 in US trading last night and was recently traded around $69.85ish per barrel, gold traded around $804.50ish and JPY traded around 101.32ish. Nikkei futures was closed at 8800 in CME compared to the close of 8575 here yesterday.

Kospi may open higher today and may get a nice rebound after steep losses yesterday to close at its lowest point of the year. Tech and chipmakers may get a boost today following better-than-expected earnings from Google and IBM in the US. The weakened Won may weigh the market though but bargain hunters may help lift the stock market today. Kospi may find its resistance at 165ish and its support at 160ish today.

Hangseng may open higher today after 2 days of heavy losses mounting to more than 12%. Bargain hunters may dominate the market as the bad economic news and figures seemed to have already been priced in. China mainland markets may also play a part to determine how the Hangseng market will perform. Low oil prices may finally play a part to boost stocks as oil went below $70, its lowest price for the past year. Hangseng may find its resistance at 16000ish and its support at 15200ish today.

Asian market preview 16/10/2008

US markets plunged again last night amid new recession concerns and that the measures taken by governments will not heal the wounded economy straight away. All markets were down more than 7% as new data points to recession if not already here, is inevitable. The sell-off began after the governments reported that retail sales plunged by 1.2%, almost double the 0.7% predicted by analysts which made it clear that consumers are reluctant to spend amid a shaky economy. Then in the afternoon came the beige book which also offered similar views regarding the economy. The report found that the economy continued to slow as financial and credit market problems became worse. Analysts predicted that volatility will remain high in these uncertain times and as the governments have used almost all measures to help the economy, investors now have to wait to see how the actions will steady the economy. The Dow plunged 733.08 pts or 7.87% to 8,577.91, S&P500 fell 90.17 pts or 9.03% to 907.84 while Nasdaq fell 150.68 pts or 8.47% to 1,628.33.

Asian markets will open lower again today following the plunge in US markets last night as investors fear of recession. Markets around the region may be hit hard again and may visit this year's low, which was formed on 10th October again today as the fear of a prolonged global recession may make investors to hold cash instead of stocks right now. Crude oil prices also plunged overnight as fears of reduced demands make investors flee. Oil was recently traded around $73.50ish per barrel, gold traded around $845ish and JPY traded around 99.60ish. Nikkei futures was closed at 8500 in CME compared to the close of 9320 here yesterday.

Kospi may open lower again today as US markets plunged overnight and may continue its losses and may even visit this year's low again. Investors' confidence have been hit pretty hard the past month and with this growing fear of global recession, investors may run away to safety instead of holding stocks. Local corporate earnings may help or may even make things worse if earnings are bad. Kospi may find its support at 160ish and if it breached that level, it may find resistance at 155ish. It may find its resistance at 165ish today.

Hangseng may open lower today amid growing concerns of a global recession. Hangseng have plunged 5% yesterday and may extend its decline today as regional markets may put pressure on its movement. The Hong Kong government will take every measures to prevent Hong Kong to become affected by the crisis, but it cannot avoid global recession. Hangseng may find its support at 14500ish and its resistance at 15200ish today.

Asian market preview 15/10/2008

US markets ended a relatively calm day with modest loss on profit taking after posted its biggest gains in history the day before. Financial stocks surged again last night as bargain hunters still buy into the already battered stocks. Investors remained nervous about the whole economic situation and the fears of global recession still become the theme for markets. Analysts have mixed opinion of whether or not we have reached the bottom. It seems that the government plan is beginning to work as banks are starting to become more willing to lend to one another as shown by the slight drop in Libor rate from 4.75% to 4.64%. In the US, Nasdaq was hit worst as investors are nervous, waiting for Intel's results. The Dow ended lower by 76.62 pts or 0.82% to 9,310.99, S&P500 fell 5.34 pts or 0.53% to 998.01 while Nasdaq fell 65.24 pts or 3.54% to 1,779.01.

Asian markets may open slightly lower following the profit taking session that took place in the US last night. Markets around the region may also have similar reaction as it has rallied big time for the past 2 days. Investors still remain cautious about the whole economic situation and they may want to wait further as more economic data to come out of the US this week. Markets may move with quite a high volatility today. Oil was recently traded around $78.87ish per barrel, gold traded around $842.10ish and JPY traded 102.04ish. Nikkei futures was closed at 9440 in CME last night compared to the close of 9660 here yesterday.

Kospi may open slightly lower today and profit taking may come in as investors want to lock in profits after recent big gains in the market. Chip makers may be boosted after Intel posted better-than-expected Q3 results and it seems that Intel is little affected by the whole financial crisis situation. Trading may be highly volatile as it has been for the past 2 weeks today as uncertainty still lingers. Kospi may find its support at 173ish and its resistance at 180ish today.

Hangseng may open lower today and may continue lower for a bit for some profit taking action. The drop in oil to below $80 per barrel may be a bonus to refiners and ease inflationary concerns but the outlook with the whole global economy is still gloomy. Analysts predicted that Hangseng will swing wildly within 5000 range for the next few months as investors are trying to find solid ground with the whole situation. Chinese mainland markets may also dominate how well Hangseng may perform today. Hangseng may find its support at 16500ish and its resistance at 17300ish today.

Asian market preview 14/10/2008

US markets posted the biggest gains in history in terms of percentage and points term last night. Most markets soared up more than 11% after the government, along with other government globally guarantee bank deposits and buying stakes in banks directly. The Fed has also allowed to flood the global financial system with dollars. Investors are rushing back to stocks as it has been discounted significantly in the past week and news about the implementation of $700 billion package only added to the investors' optimism. Analysts believed that current levels is closer to the bottom but has not yet reached the very bottom. There are still a long road ahead before investors' confidence is fully restored as economic data is to come next in the coming days. The Dow soared 936.42 pts or 11.08% to 9,387.61, S&P500 soared 104.13 pts or 11.58% to 1,003.35 while Nasdaq rose 194.74 pts or 11.81% to 1,844.25.

Asian markets may open higher today following the biggest 1-day gainers by US markets overnight. Japanese markets may play catch up today after it was closed yesterday as regional markets rallied. Governments' plans to save banks globally may still have impact after the US also followed to guarantee bank deposits and to buy stakes in banks. Oil prices also soared as global rallies bring optimism to investors. Oil was recently traded around $81.19ish per barrel, gold traded around $842.50ish and JPY traded around 102.20ish. Nikkei futures was closed at 8990 in CME last night compared to the close of 7870 here on Friday and 8605 yesterday on a shortened trading session.

Kospi may open higher today and may add to yesterday's gains as the US markets posted a huge rally last night. Governments worldwide are trying to save banks and to get credit flowing again. Kospi may find its resistance at 180ish today and its support at 172ish.

Hangseng may open higher today and may add to yesterday's gains as US markets rallied the most in history on speculation that the governments' measures to save banks will finally unclog the frozen credit markets. However, yesterday Hangseng have risen more than 10%, it may not add as much today as there are also still some uncertainties linger on the air. Hangseng may find its resistance at 17200ish today and its support at 16500ish.

Asian market preview 13/09/2008

US markets ended a very volatile day on Friday mixed With Nasdaq market ending mildly in positive territory. Dow Jones Industrial Average recorded the wildest swing ever with over 1000 points swing in the day. It started down almost 700 pts then rallied back up to gain more 100 pts before plunging back into negative territory. It spent most of the time down 300-500 pts before in the final hour, it rallied more than 700 pts and closed down 180 pts. Analysts believed that it was better than the previous 7 trading sessions and that investors are trying to bottom fish at current levels. Investors are taking chances ahead of the G-7 meeting to be held over the weekend to discuss the economic meltdown. Investors believed that one of the potential remedies is for governments to guarantee lending among banks. Within a week, The Dow have lost 18.2% and have lost 40.3% since hitting its highest peak a year ago. Analysts believe that trading will remain volatile in the next few weeks, but some brave long term investors are starting to enter the markets at current levels as nobody wants to miss markets' bottom. The Dow ended down by 128 pts or 1.49% to 8,451.49, S&P500 fell 10.70 pts or 1.18% to 899.22 while Nasdaq rose 4.39 pts or 0.27% to 1,649.51.

Asian markets may open mildly lower after losing so much percentage points on Friday. A mild 1%ish drop for US markets may means that markets around Asia may even starting to turn around and have a short-term rally. Depending on the outcome of the G-7 meeting, markets around Asia may even have quite a rally today. Oil prices also dropped on Friday to below $80 per barrel and marked the lowest price for a year. Lower oil prices means lower inflation for countries around Asia and that may give further boost to the stock markets. Oil was recently traded around $77.70ish per barrel, gold traded around $859ish and JPY traded around 100.50ish. Nikkei futures was closed at 8120 in CME compared to the close of 7870 here on Friday. Nikkei will be closed today for holidays.

Kospi may open rather flat today and may go up today following the modest drop in the US. The markets have been heavily oversold in the past week and bargain hunters may start to come in and starts buying stocks for long term. Many analysts have already pushed their investors by saying that it is the best time to enter into the stock market at any time since markets were coming down way too fast and governments around the world are working tirelessly to find a solution to the current situation. However, market may still be very volatile like Friday's session where Kospi was down 9% at one point before rebounding up to close lower by 4%. Kospi may find its support at 160ish today and its resistance at 167ish.

Hangseng may open rather flat with upward bias today following the mild drop in the US and after investors showed some kind of enthusiasm to buy stocks again. Many analysts believe that the bottom is near and a rebound is due to happen anytime soon. Long term investors may want to start early and may start buying stocks at current level. Lower oil prices may also help to boost markets in Hong Kong and China. Howecer, China mainland markets may also play a significant part to determine whether Hangseng will have a huge rally or will it be stopped halfway and go back down again. Hangseng may find its support at 14700ish and its resistance at 15700ish today.

Asian market preview 10/10/2008

US markets tumbled for the 7th straight session, posting its lowest close in 5 years on the anniversary when the markets hit its highest point just one year ago. Markets plunged in the final hour of trading, after S&P ratings services put GM and its finance affiliate GMAC LLC under review to see if its rating should be cut. GM has been struggling with weak car sales in North America. S&P also put Ford Motor Co. on credit watch negative. Credit markets are still frozen despite a combined efforts by central banks worldwide to cut interest rates to stimulate investors' confidence. Libor, tha bank-to-bank lending rate remains stubbornly high, rose to 4.75% from 4.52% on Wednesday and until that starts to come down, it will be hard to get investors excited about stocks again. Almost 3000 stocks fell on NYSE and less than 250 advanced. The Dow plunged 678.91 pts or 7.3% to 8579.19, S&P500 fell 75.02 pts or 7.6% to 909.92 while Nasdaq fell 95.21 pts or 5.5% to 1,645.12. Analysts believe that the markets are way oversold but has yet to determine its real bottom now.

Asian markets may open lower yet again today and may come under pressure again as selling and fears gripped markets worldwide. Most investors are choosing to get out of stocks at any price as more uncertainty looms in the fate of global economy. Oil prices also fell as investors predict weaker demand in this kind of sluggish economic conditions. Gold price meanwhile is predicted to go back beyond $1000 per troy ounce and may even go towards $2000 within the next year as some analysts believe. Oil was recently traded around $84.90ish per barrel, gold traded around $918ish and JPY traded around $99.50ish. Nikkei futures was closed at 8620 in CME compared to the close of 9300 here yesterday.

Kospi may open lower today after staging a slight recovery rally yesterday on new found optimism over coordinated global rate cuts. However, investors are still nervous and may be in fear yet again today following another massive sell-off in the US last night. Kospi may even fall below 160 mark today if investors are afraid enough and do not want to hold stocks over the weekend. Kospi may find its support at160ish today and its next support may be at 157ish while its resistance at 167ish.

Hangseng may open lower today and may fall after staging more than 3% rally yesterday on global rate cuts optimism. Hangseng may fall below the 15000 mark today and may even test the 14700 levels. Chinese markets may also determine whether Hangseng will fall more deeply or it can contain the freefall for Hangseng. Hangseng may find its support at 14700ish and its resistance at 15500ish today.

Asian market preview 09/10/2008

US markets tumbled for the sixth straight session after an emergency rate cut failed to sustain markets' rally during the morning session. Markets initially rallied up after The Fed joined ECB, BOE, Bank of Canada, Swedish Riksbank and the Swiss National Bank to cut interest rate in an unprecedented move to battle credit freeze. After a while, markets zig-zagged in and out of positive and negative territory before finally gave up its gains in the final 30 minutes after Henry Paulson's comments stating that it could take weeks before the $700 billion bill starts to buy troubled mortgage-backed assets from banks. Global recession fears around the world have sent global markets tumbled down for the past week and yesterday alone, some markets lost over 10% and was shut down early. It is hard to determine the real bottom in this situation, although as we see, stocks are generally at bargain prices at these levels. Investors' confidence have to be restored before any stock markets rally can be sustained. Meanwhile, troubled insurance giant AIG will be granted an additional $37.8 billion in additional liquidity from New York Fed. Earning season have started too in the US and Alcoa gave a lower-than-expected profit while IBM's early report stated that it beat expectations. The Dow ended lower by 189.01 pts or 2% to 9,258.10, S&P500 fell 11.29 pts or 1.13% to 984.94 while Nasdaq fell 14.55 pts or 0.83% to 1,740.33.

Asian markets may open lower again today, but may limit its losses after mounting several heavy losses for the past week. The combined rate cut efforts performed by central banks worldwide may help give some comfort to investors and may breathe life to the stock markets around Asia today. However, volatility may still be very high as investors are still very much concerns regarding the overall global economic outlook. More steps are being arranged by central banks around the world to unclog the credit market so that banks would want to lend money more freely. Oil prices also dropped overnight, it is recently traded around $88.81ish per barrel and it eases inflation concerns around the world. Gold was recently traded around $907.50ish as investors seek have haven. JPY was recently traded around 99.50ish and Nikkei futures was closed at 9200 in CME compared to the close of 9165 here yesterday.

Kospi may open lower today but may turn to the upside following the rate cuts peformed by central banks worldwide last night. Some bargain hunting may also emerge if there's enough positive news around Asia to fuel a stock market rally today. Volatility may still be high today as investors are still very much fearful regarding the uncertainty of global economy but generally, Kospi have performed slightly better than other markets. Kospi may find its resistance around 170ish and its support at 160ish today.

Hangseng may open slightly higher and may perform a rally today after Hong Kong's central bank announced that they will cut interest rate by 100 bps today. The combined rate cuts peformed last night may also give reasons for investors to buy the already cheap stocks today. Technically, markets around the region are bound for a rebound, it's just a matter of time when will investors be confident enough to buy stocks and sustain markets' rally. Chinese markets may also set to rebound today after Chinese bank announced that it will start slashing rates to stimulate more growth to the economy. Hangseng may find its support at 14700 and its resistance at 16000ish today.

Indonesian stock market was closed early yesterday after it plunved more than 10% to its lowest close this year at 1,451.67. Market may find some life today if regional markets are strong enough to sustain a rally fueled by emergency rate cuts around the world. However, as investors' confidence have been hurt badly in recent days, market may still get heavy selling pressures. IHSG will still be closed today as market's officials are trying to determine when to open up the market again. If market is open today, it may find support at 1,400ish and resistance at 1,470ish today.

Asian market preview 02/10/2008

US markets ended a relatively quiet day moderately lower last night as investors are waiting nervously for the senate vote on the new revised $700 billion bailout plan. The Dow initially lost more than 200 points in early morning trade but managed to recoup most of its losses as the bailout plan seems likely to pass the senate and house votes. Meanwhile on economic data, the Institute for Supply Management revealed a troubling drop in new orders. The Index of manufacturing activity fell to 43.5 in September from 49.9 in August and analysts have expected a reading of 49.5. Auto sales in the US also fell 27% as consumers curb spending on luxury items. The bailout plan which includes lots of 'sweeteners' such as tax breaks for businesses and the middle class, a provision to raise the cap on federal deposit insurance from $100,000 to $250,000 and other bits of new stuffs to win over the senate and house votes, is actually heading for a senate win on Wednesday night US time. Most people believe that with the win for the bill, it will unfreeze the credit market and banks would want to lend to each other again and businesses will also get the funds they needed for daily operations. The Dow ended down by 19.59 pts or 0.18% to 10,831.07, S&P500 lost 5.30 pts or 0.45% to 1,161.06 while Nasdaq fell 22.48 pts or 1.07% to 2,069.40.

Asian markets may open flat with tendencies to go higher today as the revised plan seem to be able to win senate votes and most likely to win over the house on Friday. The US government really think that they need to do something and the addition of 'sweeteners' on the bailout plan showed how serious they are to get the bill passed. Crude oil meanwhile fell last night as US inventories showed a surprise increase in supplies. Oil was recently traded around $98.84ish per barrel, gold traded around $876.80ish and JPY traded around 106.05ish. Nikkei futures was closed at 11580 in CME compared to the close of 11500 here yesterday.

Kospi may open rather flat with higher bias today following the optimism that the new, revised bailout plan will go through senate and get the required house votes. Kospi will be closed on Friday and if optimism flow enough among investors today, it may perform like Hangseng did on Tuesday as stocks rose in anticipation that the bailout plan will be successful. Kospi ended down yesterday as investors did not show the enthusiasm as they're still waiting for the revised bailout plan. Kospi may find its resistance at 193ish and its support at 185ish today.

Hangseng may open slightly lower but it depends on how the bailout plan perform in the senate floor today. By the time Hangseng open, the votes in the US senate will be over and that may determine the market's direction for today. Hangseng was closed yesterday for holiday and may continue its rally today if the senate are fully in favor of the plan and if it showed that the house will vote YES on the plan. Hangseng may find its resistance at 20000ish and its support at 18700ish today. China mainland markets are still closed today for a week long holiday.

Asian market preview 01/10/2008

US markets soared higher last night after the biggest ever point drop for the Dow the day before. Investors came back into the markets as President Bush and top congress members and lawmakers vowed that they will revive the $700 billion bailout plan and will get an approval from the House Congress on Thursday. The bailout plan was surprisingly rejected yesterday as Congresmen think that the plan would not be able to jump start the economy. House members were flooded with phone calls after the rejection of the bailout plan, this time calling them to support for it or at least passes something in order to help with the economy. The cost of borrowing Dollar overnight increase the most after the defeat of the bailout plan. LIBOR (London Interbank Offered Rate) for 3-month dollar loans rose to 4.05% from 3.88% on Monday while LIBOR for 3-month euro loans rose to 5.27% from 5.22% on Monday. Banks are making it harder for people to borrow money and even qualified potential home owners are finding it hard to get home loans. On other news, Wall St was cheered by several economic readings where Consumer Confidence Index rose to 59.8 from 58.5 in August and better from a predicted reading of 55.5. Chicago Purchasing Managers' Index came in at 56.7 compared to 57.9 in August. The soaring markets last night wasn't unexpected as yesterday was the last trading day of the quarter and portfolio managers are trying to make their portfolios look better. However, investors are still very nervous about the frozen credit market. The Dow soared 485.21 pts or 4.68% to 10,850.66, S&P500 rose 58.35 pts or 5.27% to 1,164.74 while Nasdaq rose 98.60 pts or 4.97% to 2,082.33.

Asian markets may open higher today following the partial recovery on Wall St last night on speculation that the lawmakers are trying to do something to salvage the $700 billion bailout plan. Most Asian markets were trimming their losses yesterday after opening losing more than 5% for most markets. Markets may find some relief and bargain hunting may kick in today for Asian markets as they may find new optimism that lawmakers in US are working extra hard to get the bailout plan approved. Crude oil prices also bounced back last night and was recently traded around $100.60ish per barrel, gold traded around $880.80ish and JPY traded around 106ish. Nikkei futures was closed at 11680 in CME compared to the close of 11425 here yesterday.

Kospi may open higher today following yesterday's decline after the failure of the $700 billion bailout plan in the US. Kospi have recovered much of its losses yesterday where the market was closed losing only around 0.7% after opening down more than 5%. The temporary ban on short selling may give market more reason to buy today on top of new speculation that US lawmakers will eventually pass something. Kospi may find its resistance at around 195ish today and its support at around 188ish.

Hangseng is closed today for public holiday. The market recovered all of its early morning loss yesterday to close up 0.76%.

Asian market preview 30/09/2008

US markets tumbled last night as bailout plan was rejected in congress. The Dow posted the biggest one-day drop ever, losing almost 780 pts. S&P500 and Nasdaq's percentage points drop was even bigger. Many traders have believed that it would take months for the plan to have its effect, but they also believe that it would be the first step to move forward to give some boost for the faltering economy. The bailout plan was unpopular in the first place and it would take great efforts to get approved by the congress. Shortly after the plan was rejected, US treasury secretary, Henry Paulson, vowed that he will work with congressional leaders to develop other way to help the sagging economy. The rejection of the bailout plan came after Commerce Department said that consumer spending fell in August to its lowest level in six months, while analysts expected it to rise slightly. The selling in NYSE was so intense that only 162 stocks rose and 3,073 stocks fell after the news of the bailout plan was rejected. Investors are fearing that the credit market will freeze up and the economy will continue to falter as all parties are afraid to lend money to each other. Meanwhile, oil prices tumbled more than $10 and other commodities prices also fell while gold rose as much as $23 during the US trading session. The Dow fell 777.68 pts or 6.98% to 10,365.45, S&P500 fell 106.85 pts or 8.81% to 1,106.42 while Nasdaq fell 199.61 pts or 9.14% to 1,983.73. With these losses, stocks value was decreased by around $1 trillion.

Asian markets are set to open lower today following the failure of the $700 billion bailout plan in the US overnight. Investors, some of whom have decided to sell off their holdings yesterday, may continue to sell off their stocks today as more uncertainty looms regarding the US financial system and its widespread effect across the globe. It would take great efforts by the US government to come up with a better plan and convince congress to give them some support. Investors will need confidence boost to start investing in the stock market again. Oil was recently traded at around $96.10ish per barrel, gold traded around $905.35ish and JPY traded around 103.77ish. Nikkei futures was closed at 10260 in CME compared to the close of 10640 here yesterday.

Kospi may open lower today following the failure of the bailout plan in US' congress last night. Investors may sell off their stocks and foreigners may take their investments from the South Korean market and prefer to hold cash in these uncertain times. Chipmakers may also get hit pretty bad after Apple and some other tech names in the US were downgraded last night. The only glimmer of light today for Korean market is the low oil price which may give some very slight support and hope for investors. Kospi may find its support at 170ish today and its resistance at around 177ish.

Hangseng may open lower today following the failure of the bailout plan in the US overnight and the selloff yesterday may intensify today. With property sector unable to lend support to the market, the only hope lies on the low oil prices which may give oil refiners some boost today. Investors will continue to wait on the sidelines for more news from the US and what other plan the US government can come up with. China mainland markets will remain closed today for national day holiday. Hangseng may find its support at 16000ish and its resistance at 17000ish today.

Asian market preview 29/09/2008

US markets were ended mixed on Friday as investors remained cautious after the $700 billion bailout proposals raised some doubts from Republican lawmakers. Investors were nervous and most of them were just waiting to see what will happen over the weekend. Big financial companies rose to lift the Dow while smaller financial companies were getting hit. Tech sector was also getting hammered after RIMM warned that its gross margins would contract for this quarter because of the costs of producing 3 new blackberry models. The market was also uneasy after Washington Mutual Inc. became the largest US bank to fail and was seized by FDIC before it was sold to JPMorgan for $1.9 billion. However, investors took some comfort as JPMorgan's decision to buy WaMu was considered to be good decision. Oil prices also declined as investors were uneasy about the outcome of the $700 billion bailout plan. Light, sweet crude fell $1.13 to settle at $106.89 per barrel. The Dow ended up by 121.07 pts or 1.10% to 11,143.13, S&P500 rose 3.83 pts or 0.32% to 1,213.01 while Nasdaq fell 3.23 pts or 0.15% to 2,183.34. Over the weekend, it seemed that lawmakers and Bush administration have finally came out with a deal and the $700 billion bailout proposals seems good. This may bring calm to the market and may give a short term rally ahead for Wall St and Global stock markets.

Asian markets may open higher following the news over the weekend that Congress and the Bush Administration have finally agreed on the terms for $700 billion bailout plans. More details still needed to be done but the idea was generally accepted by everyone and they're now waiting for the bill to be passed. President Bush called lawmakers and congressmen to rise to the occassion as failure to do so may bring more calamity to the wider economy. Crude oil was recently traded around $106.89ish per barrel, gold traded around $888.50ish and JPY traded around 106ish. Nikkei futures was closed at 12120 in CME on Friday compared to the close of 11910 here on Friday.

Kospi may open the day and start the week higher on investors' newfound optimism that the US government have finally agreed on the $700 billion bailout plan. The US government is basically going to buy all the toxic assets that are clogging the financial markets including bad mortgages and then it would later sell it again when the time is right. However, with the general idea finally gets accepted by congressmen, this will raise further question of whether $700 billion is enough to revive the whole economy and help America to avoid a great recession. Kospi may find its resistance at around 200ish today if investors are optimist and bullish enough and may find its support at around 195ish.

Hangseng may start the day higher with the news that US government have finally agreed on the bailout plan over the weekend. Hangseng was sold off on Friday as investors chose to exit and wait on the sidelines following the uncertainty on the US' bailout plan. However, with the plan now in place, Hangseng may find new energy to rally up today and may breach 20000 mark if investors are optimist enough. However, the contaminated dairy product scandal which have risen in China may hurt stocks as more and more dairy products like Oreo and M&Ms being taken off from public consumptions. China mainland market may also determine how high Hangseng will rise today. Hangseng may find its resistance at 20000ish and its support at 18900ish today.

Asian market preview 24/09/2008

US markets fell again last night and set the steepest 2-day decline since 2002 after losing more than 3% a day earlier on concerns regarding the $700B bailout plans. The US congress were questioning whether the $700B bailout is necessary and if it is, whether that $700B of taxpayers' money will help steer the economy around. The market seemed uncertain about how long it will take for the bailout plans to take effect while Fed chairman, Bernanke, told the Senate Banking Committe Congress risks triggering a recession if it doesn't act on the plan. He said that inaction could leave a range of businesses unable to borrow money while consumers could find it impossible to finance big purchases like cars and homes as banks are reluctant to give credits. Analysts believe that volatility will remains for some time even after the bailout package passes because of global economic slowdown which is going to have some impact on earnings. The Dow fell 161.52 pts or 1.47% to 10,854.17, S&P500 fell 18.87 pts or 1.56% to 1,188.22 while Nasdaq fell 25.67 pts or 1.18% to 2,153.34.

Asian markets may open lower again today following more concerns regarding the US bailout plans for the financial system. Most Asian markets were lower yesterday on this bailout concerns and may extend their losses today. Oil prices meanwhile were lower on profit taking and as the Dollar regained some grounds last night. Oil was recently traded around $107.03ish per barrel, gold traded around $892ish and JPY traded around 105.71ish. Nikkei futures were closed at 11750 at CME compared to the close of 12045 on Monday. Nikkei may play catch up with the rest of the regional markets after it was closed yesterday for a public holiday.

Kospi may open lower today following more concerns regarding the $700B bailout plans and its effectiveness. Yesterday, Kospi started lower but ended the day higher as investors shrugged off concerns from the US and focussed on the local market. The news that Warren Buffett is buying Goldman Sachs may give some boost to regional markets. Kospi may find its support at 190ish today and its resistance at 197ish.

Hangseng may open lower again today following more uncertainties from the US. Hangseng was heavily sold yesterday, losing almost 4%. Selling was intensified in the afternoon session as investors feared that market will be closed today due to another typhoon incoming. China mainland markets may again play a part in determining how the Hangseng market will be performing today if the market is open. Hangseng may find its support at 18700ish today and its resistance at 19500ish.

Asian market preview 23/09/2008

US markets tumbled yet again last night as fears returned to the markets as investors waiting nervously for the "mother of all bailout" package details. Oil and gold also soared as investors sought safe haven to invest other than the volatile stock markets. Investors may become more nervous if there isn't enough progress being made. Meanwhile, further reshaping of the US financial system appeared on Monday as Morgan Stanley plans to sell 20% of its stake to Mitsubishi UFJ Financial Group Inc. Oil soared more than $25 per barrel at one point and was settled up by $16.37 to $120.92 as investors snapped up supplies to cover October contract, which expired at the end of Monday session. Gold rose $40.30 to settle at $909 an ounce as dollar fell against major currencies. The Dow ended down by 372.75 pts or 3.27% to 11,015.69, S&P500 fell 47.99 pts or 3.82% to 1,207.09 while Nasdaq fell 94.92 pts or 4.17% to 2,178.98.

Asian markets may open lower today and end the 2-day winning streak since Friday as investors grew nervous on the bailout plan in the US. Oil's rally may also weigh on the market as inflation fears may creep back into some of the emerging markets. However, for countries like Indonesia, where the market is dominated by commodity players, this may give good sign for market to extend its rally. Oil was recently traded at $109.10ish per barrel, gold traded around $907.30ish and JPY traded around 105.45ish. Nikkei futures was closed at 11820 in CME compared to the close of 12060 here yesterday. Nikkei is closed for public holiday today.

Kospi may open lower today as fears crept back into the US markets last night. Investors are waiting anxiously for more news regarding the bailout plans and as oil crept back up, investors in Korea may also be weighed by rising energy prices. Kospi may find its support at 185ish and its resistance at 190ish today.

Hangseng may open lower after posting a huge 2-day gains since Friday. Weak sentiment from the US may weigh on the market and the global economic outlook is still uncertain. Chinese markets may play a part in determining the market's direction today. China mainland markets have rose more than 15% in the past 2 sessions and analysts predicted that it's bound to have a profit taking session soon if not today. Hangseng may find its support at 18700ish today and its resistance at 19300ish.

Asian market preview 22/03/2008

US markets soared for 2nd day on Friday on optimism that the government is doing everything they can to bring calm to the financial markets. Wall St however, still remains cautious as how far the government is willing to do to help the market. The Bush administration came up with a proposal on Saturday to get a $700B bailout package to the congress and hoped that it will get approval soon to help the markets. The package is viewed as needed by many economists but it brings about debatable points by some. Some economists and investors think that the package is quite "unfair" as it only helps to shield rich people to lose some of their money by making bad bets in the financial markets while it doesn't protect those taxpayers who owned homes and are about to get evicted cause they can't pay the debts to the lenders. Another step taken by the US government was to ban short-selling of 799 financial stocks for 2 weeks to help stabilize the markets. This step was indeed quite effective as investors rushed to switch their positions.

Asian markets may open higher today and may extend the global rally sparked by US governement's plans to bailout the troubled financial markets. Investors have found new optimism in the global financial markets and with the short-selling bans imposed, there are no other way but up. However, investors are still nervous with the bailout plans made by the US. Investors still think that the $700B rescue plan may not be enough to fully sustain the credit crisis fallout. Meanwhile, oil prices and gold prices rose too as investors still seek safe haven in a more conservative trading. Oil was recently traded around $104.55ish per barrel, gold traded around $874ish and JPY traded around 106.80ish. Nikkei futures was closed at 12440 in CME compared to the close of 12130 here on Friday.

Kospi may open higher today after the US markets staged the biggest 2-day rally on Thursday and Friday on government rescue plans. Now, with the $700B rescue plan the government is planning on, Kospi may get a boost further with the already oversold market. However, with as the rally on Friday already been so high, investors may still be quite nervous to make further big bets on the market. Today's rally may not be as much as Friday's and those nervous investors may pull some of their winnings back from the market as the situation is still quite uncertain. Kospi may find its support at 190ish and its resistance at 197ish.

Hangseng may open higher yet again today and may rise further as optimism grew in the US. China markets may determine if Hangseng will rise further on top of the 10% one day rally on Friday. Jittery investors may take some of their winnings off the table today and that may cause Hangseng to slowdown a bit after staging a late recovery on Thursday and a very huge gain on Friday. Hangseng may find its support at 19300ish and its resistance at 19800ish today.