US markets were closed on Friday for Good Friday holidays and it had closed higher for the past week after The Fed cut the interest rate by 75 bps. In the coming week however, more economic data will be coming out of the US which will determine how deteriorated the economy really is. New home sales and existing home sales data is predicted to continue to falter, while consumer spending may drop to its lowest survey showed.
Asian markets today may open flat from Friday's close and it may continue its rally from last week. The rally however, may not go very high as investors may start to focus on the US economic data due out later this week. Commodity prices continue to slide to close at the lowest at the end of last week. Recently, crude oil was traded around $100.93ish per barrel, gold traded at $913.50ish and JPY traded at 99.50ish. Nikkei futures was closed in CME on Friday and was closed at 12365 here.
The Kospi may edge up higher again today to continue last week's rally. There are also chances that investors may cash in profit too ahead of US economic data due out later on this week. Overall, Kospi may start this week in the green.
Hangseng is still closed for Easter Holidays.
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