Asian markets took a dive again today after a strong early morning start. Japanese markets fell after Yen strengthened 107ish and declines were paced by Toyota Motor and Honda Motor. Nikkei was closed at 14000, and it fell to as low as 13930, the lowest level since November 2005. China mobile also fell for 2nd day after it ended talks with Apple regarding its iPhone products entering China market. MSCI Asia Pacific index dropped 1% to 150.57.
Kospi opened the day slightly higher at 224.85 but it only reached as high as 226.05 before came tumbling back down towards 219.30. Shipbuilders fell yet again led by Hyundai Heavy Industries while Samsung and LG Philips Electronics climbed after better than expected earnings for both companies. Market was very volatile with price between ups and downs ranging up to 200 pts each time. Kospi moved between: 219.30-226.05.
Hangseng opened the day higher as well at 26734 and it went up further to 26848 before finally came tumbling down more than 1000 pts following regional market. Volatility was very high today with price ranging from 100-300 each curve. Hangseng was closed at 26156 for 1st session and 2nd session was opened at 26112. It went up a bit before finally going down all the way breaking lows to get to 25698 and closed at 25719 making it the lowest close this year. Hangseng moved between 25698-26848.
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