A softer start to some asian markets as expected today following the flat close on Wall St overnight. Nikkei was hammered heavily today losing more than 3% after a long new year's holiday. It was opened at 14905 and it went downhill all the way throughout the trading session, reaching as low as 14565 and closed at 14670. The bad economic data from the US, the ever rising oil and gold prices contributed to the fall in Japan.
Kospi opened softer by a bit at 235.65. However, this level is higher than I anticipated so today I just watched and see Kospi when it slid downhill to as low as 231.50. It then rebounded back up as expected and touched as high as 238.30 before closing the day at 236.95. I think it's only a technical rebound after Kospi falling for 2 days in a row, investors may think that they're looking for bargain stocks to get some quick profits. Kospi moved between: 231.50-238.30.
Hangseng opened marginally higher at 27068 and it went south first towards 26911 within minutes of the trading session. It then went upwards as expected and reached as high as 27692 in the 1st session to close at 27601. 2nd session was opened at 27635 and it had a rollercoaster ride, moving between 27400ish-27600ish and Hangseng was closed at 27658. Hangseng moved between: 26911-27692 today.
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