Asian market review 02/01/2008

Asian markets fell, extending the declines from 4th quarter 2007, after government report indicating the economy in South Korea and Singapore are slowing. Stocks also fell caused by the declines in US market on the last day of trading in 2007 on concern economic growth in the nation will falter amid widening credit-market losses. A bombing incident in Sri Lankan also became a factor in the regional declines today, reminding us of the political tensions happening around the world. The MSCI Asia Pacific excluding Japan lost 0.7% to 525.95, making it the biggest decline since Dec 17th.
The Kospi opened at 242.00 and it went down gradually after only touching its day high at 242.50 at around open time. it didn't went back up at all during the trading session. Samsung electronics paced declines after government reports showed that South Korean economic is slowing too following US economic conditions. Kospi reached as low as 236.15 today declined more than 2%. I did BUY Kospi at 242.50 and I guess I have to wait for another day to get my profit. Kospi moved today between: 236.15-242.50.
Hangseng opened at 27700 as I expected, and following my advice, I played the Hangseng and get my BUY with hope of returning some of my loss in Kospi. I didn't wait long when Hangseng went up at the open to touch 27941. It then went down towards the end of session 1 to close the session at 27466. 2nd session opened at 27498 and it went down further to 27288 before rebounding up and close the day at 27663. Hangseng moved today between: 27288-27941.