Asian market review 03/01/2008

Asian markets opened lower following US markets' tumble last night. The drop in the markets are mainly caused by the fear of US recession which is mounting with every data that came out of the US. The rise in oil and gold prices to record highs also became a factor in the drop. However, some companies benefit from the rise and that also help prevent a more steeper drop. Nikkei market is still closed today and will begin 2008 trading tomorrow.
Kospi opened lower as expected but not as low as I anticipated earlier. It opened at 234.55 and it play around that price and keep breaking low steadily and touched its lowest at 232.10 after 90 mins of trading. It then rebounded up and play around 233ish-234ish before finally going up again and touched its highest at 236.80 at 35 mins before the end to close the day at 236.00. I did get a SELL today near the open at 234.40 and I get my profit when it went below 233.00. Kospi moved between: 232.10-236.80
Hangseng also opened lower and it was even further than I expected at 26975. It played around open price ranging from 27000ish-27200ish. It then rises a bit and reached its peak at 27154 and Hangseng was closed 1st session at 27074. 2nd session opened at 27104 and it went further up and touched its day high at 27270 before going back down and was closed at 27021 for the day. Hangseng traded ranging from: 26821-27270.