Asian market review 24/01/2008

Asian markets rose for 2nd day today after Wall St surged last night. Markets rallied after Dow Jones rallied more than 600 pts to reverse a 300+ pts loss to a 298 pts gain last night. With 11% expansion, China is believed to be able to sustain growth in Asia despite the fear of US recession. The stimulus package is also close to be agreed by congressmen in the US and that also contribute to another day of gains in the equity markets in Asia. Nikkei gained 263.72 pts or 2.06% to 13092.78 and its index was closed at 13045 in Singapore. JPY was recently at 106ish, gold at $890ish and crude oil at $87ish per barrel.
Kospi opened higher at 212.45 today and it went up to 214.10 within 20 mins and it started the volatile market from there. It went back down to 212.65 before going back up to get to its highest at 214.75 within the next hour. It went up and down towards 210.95 and was finally closed at 212.40 for the day. Kospi moved between 210.95-214.75.
Hangseng opened just marginally higher at 24337 and it went to 24400ish before retracing down towards 23800ish level. It went back up and touched its current high at 24937 before lunch break and was closed at 24864 for 1st session. 2nd session saw Hangseng opened lower at 24794 and it went down still to 24600ish before going back up ti 24978. It all went downhill afterwards in a full volatile mode, with moves ranging between 200-500 pts each and finally closed near its lowest at 24635. Hangseng moved today between 23472-24978.