Asian market review 12/02/2008

Asian markets gained mostly today led by banks and mining stocks. The gains were not significant with the exception of Hangseng, which gained more than 1%. Speculation that help may be on the way to help borrowers in danger of default in the US put some new optimism in investors' minds. Nikkei gained 4.72 pts or 0.04% to 13021.96 while its index futures closed lower at 12980 at 1.30 PM Singapore time. Crude Oil recently traded around $92ish per barrel and JPY traded around 106.90ish while gold was recently traded around $920ish. Dow futures meanwhile was little changed.
The Kospi opened up higher at 210.70 and it retraces back down quickly to 209ish before going back up and down in a narrow trading range today. The highest it got was 211.60 about 1hr before the closing time and it closed down at 209.15. Kospi moved between 209.15-211.60.
Hangseng opened significantly higher at 22915 and it retraces back down towards its lowest at 22801 and it went back up to 23160. It moved up and down in a narrow trading range and was closed for 1st session at 23039. 2nd session we saw Hangseng opened down at 22949 and it went down further towards the 22800ish level before going back up to 23000ish and finally ended lower at 22895. Hangseng moved between 22801-23160.