Asian market review 07/01/2008

As expected, Asian markets took a tumble today following the bad news from the US and the fall in the markets on Friday. Nikkei opened abt 100 pts lower at 14510 and it didn't move much throughout the day, falling to as low as 14430 and reached its peak at 14695. In the end, it closed at 14480 or 1.3% lower. As expected, Asian markets only took the bad news in the morning and after that it rebounded back a bit from its day lows. JPY was traded around 109.40ish recently, gold at 856ish and crude at $97ish per barrel recently.
The Kospi also took a bad hit today, opened much lower than I anticipated at 230.30 in the morning. However, it only went to its lowest at 230.15 and it rebounded back up and play around 231ish-233ish for most of the day and was settled at 231.80. The Kospi was quite flat today, perhaps bargain hunters and scared investors were evenly matched at 50-50 today. Kospi moved between: 230.15-233.65 today. It was as expected, it went down much in the morning and it took a rebound back up although not by much.
Hangseng tumbled almost 500 pts to 27178 at the open. It went down further to its lowest of 26673 during the 1st session. It then played around 26600ish-26800ish and was closed at 26796 for 1st session. I did get a chance to BUY at 26889 and I had to wait till 2nd session before I can liquid my position. 2nd session was opened at 26779 and it rebounded back from morning's losses to reach its peak at 27295 and was closed at 27280. Hangseng moved between: 26677-27295 today. It also moved as expected, falling down a lot in the morning and regain some ground in 2nd session although not quite near the Friday's price.