US markets gained for 2nd day; led by banks and telephone companies, on better than expected durable goods order and good earnings from the companies reporting it on Tuesday. Meanwhile, investors are waiting for the Fed's decision on the rate policy, expecting them to cut another 0.5% after their meeting on Wednesday. Dow rose 96.41 pts or 0.78% to 12480.30, S&P500 rose 8.34 pts or 0.62% to 1362.30 and Nasdaq climbed 8.15 pts or 0.35% to 2538.06. The only concern now is that should the Fed did cut rate by 50 basis points, it will still take time for the new policy to make an impact on the general markets, and there may still be some downtrends in the meantime.
Asian markets may play along with the US and open higher again today and may continue the rally from yesterday. However, trading volume maybe low today as investors await for the Fed's decision to be sure and get some grounds on the global economy outlook. Crude oil rose overnight to $92ish per barrel, gold at $923ish and JPY traded at 107ish. Nikkei futures at CME closed at 13580, up from the close here of 13415 in Osaka and 13480 in Singapore.
The Kospi may open higher for 2nd day today and may continue yesterday's rally. Kospi may opened around 212ish region but today's trading volume and volatility may be low as investors may sit on the sidelines to see what the Fed has in store for us.
Hangseng may open higher today after the US closed higher amid optimism that the Fed will cut another 0.5% tonight. I'll be using new contract prices for Hangseng as the old contract will be ending today. Hangseng may open around 24500ish but today's volume may be low as investors may wait for more certainty.
Langganan:
Posting Komentar (Atom)
Tidak ada komentar:
Posting Komentar