US markets ended pretty flat last night after a mild jobs data came out of the US. Most stocks fell, led by carmakers and retailers after a weakening job market and falling auto sales increased concern that consumer spending will slow. Companies added 40,000 jobs last month down from previous month of 173,000 increase. US markets are also waiting for non-farm payroll report which will come out tonight. Dow Jones added 12.76 pts or 0.1%, Nasdaq lost 6.95 pts or 0.3% while S&P500 was little or no change at all at 1447.17.
Asian markets may be opened weaker but not by much I guess. Commodities sector had a good run again last night after oil touched its new highest at $100.06 and that may caused Asian market to rebound from the steep losses for the past 2 days. Gold was recently at $863ish, oil at $99ish per barrel, JPY at 109.50ish. Nikkei futures at CME closed at 14950.
Kospi may open lower by just a little bit and today's move maybe quite volatile seeing how the US markets move overnight. A technical rebound may happen and will continue from yesterday's close. If Kospi opened lower than 235.50 for me I think it's still a good area to BUY to get a quick profit. Kospi may move around 233ish-239ish today. I'm still waiting for my BUY at 242.50 on Monday.
Hangseng may have a rebound today after plunging quite deep for the past 2 days. A good area to BUY is if Hangseng opened lower than 27000. If not, just wait and see for a good time around mid session or even wait for 2nd session. Hangseng may move around 26900ish-27600ish.
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