US markets fell mildly overnight after a lower-than-expected reading on the consumer confidence released by the Conference Board. Consumer confidence dropped to 62.3 from 65.9 a month before. Housing price also continue to slide this month and analysts believe that prices will continue to slide until the end of next year. Oil, gold and copper prices also tumbled the most in 5 weeks overnight and these also cause market to go lower. However, with all the negative economic news, markets are unexpectedly calm and they did not go into panic mode. Investors believe that the worst is over and they're waiting anxiously about what The Fed might do at the end of their 2-day meeting today. Lower commodity prices is one of the reason markets did not tumble too deep. The Dow ended lower by 39.81 pts or 0.31% to 12831.94 with Merck as the biggest drag, declining $4.30 or 10.4% to $37.14 after Food and Drug Administration refused to approve new cholestrol drug. S&P500 fell 5.43 pts or 0.39% to 1390.94 while Nasdaq rose 1.70 pts or 0.07% to 2426.10
Asian markets may open quite flat with downside bias today following the weak close in the US and ahead of The Fed's rate decision. Profit taking may take place today as investors do not want to bet too much before The Fed's decision and also ahead of more economic news from the US such as Q1 GDP. Mining companies may be the biggest drag today with metal prices dipped quite a lot overnight and oil producers also may decline today with oil prices tumbled more than $3. Crude oil was recently traded around $115.60ish per barrel, gold traded at $871.30ish and JPY traded at around 104ish. Nikkei futures closed at 13890 at CME compared to the close of 13965 here on Monday.
Kospi may open lower around 234 and may extend its decline from yesterday ahead of The Fed's rate decision today. Mining and oil producers may lead the decline as prices tumbled overnight. Market volatility may be high as investors may try to take profit ahead of the national holiday on Thursday. However, market may not go down too deep as lower commodity prices also bring some calm to the inflationary condition in the country.
With Hangseng's old contract expired yesterday, a new Hangseng contract may open around 25700ish with a downside bias today tracking the weak US markets. However, with good earnings season from China, it's also possible for Hangseng to rise and go beyond 26000 today. Banking and financial sectors maybe in focus again with ICBC posting a 77% jump in profit. Volatility may be high today with investors may want to take profit ahead of The Fed's rate decision and also a national holiday on Thursday.
Rabu, 30 April 2008
Selasa, 29 April 2008
Asian market preview 29/04/2008
US markets were closed mixed but with most stocks gained some grounds ahead of The Fed's 2 days policy meeting, which starts on Tuesday. Most stocks were up after major M&A actions were made by Mars Inc. to acquire Wrigley Jr. Co. and billionaire Kirk Kerkorian plans to make an offer that would expand his stake at Ford Motor Co. to 5.6%, saying he sees signs the automaker's turnaround plan is working. Investors saw that the dealmaking as an encouraging signs that companies are still willing to make M&A happen. However, investors are holding their breath ahead of The Fed's decision where most investors are betting on another quarter point cut. The Dow ended down 20.11 pts or 0.16% to 12871.75, S&P500 slipped 1.47 pts or 0.11% to 1396.37 while Nasdaq rose 1.47 pts or 0.06% to 2424.40.
Asian markets may open rather flat with an upward bias today after more optimism were poured into the US markets and after some analysts encourage investors to buy into stocks. However, investors may not want to bet too much into the market ahead of The Fed's 2 day policy meeting. Crude oil rose to almost $120 and was recently traded around $118.70ish per barrel, gold traded around $891.50ish and JPY traded around 104.20ish. Nikkei futures was closed at 14015 in CME overnight compared to the close of 13965 here yesterday. Nikkei is closed for a public holiday today.
Kospi may open rather flat at around 236ish today. It may rise further towards the 238ish level but investors may not want to bet too much on the market and may want to enjoy some profit after the market has gained quite a lot the past 2 weeks. Volatility in the market may be high and news from South Korea itself may be moving the market.
Hangseng's April contract is expiring today and the new May contract has started trade since yesterday. Hangseng's old contract may open around 25600 and new contract around 25500. Hangseng may watch closely on the Chinese markets for directions today as US markets turned slightly cautious ahead of The Fed's meeting. Profit taking may be in session today as futures contract is expiring. If Hangseng(New) able to breach 25700, it may try to go towards 25900ish or even 26000. However, if Hangseng fall towards 25300ish, it may find support around 25200.
Asian markets may open rather flat with an upward bias today after more optimism were poured into the US markets and after some analysts encourage investors to buy into stocks. However, investors may not want to bet too much into the market ahead of The Fed's 2 day policy meeting. Crude oil rose to almost $120 and was recently traded around $118.70ish per barrel, gold traded around $891.50ish and JPY traded around 104.20ish. Nikkei futures was closed at 14015 in CME overnight compared to the close of 13965 here yesterday. Nikkei is closed for a public holiday today.
Kospi may open rather flat at around 236ish today. It may rise further towards the 238ish level but investors may not want to bet too much on the market and may want to enjoy some profit after the market has gained quite a lot the past 2 weeks. Volatility in the market may be high and news from South Korea itself may be moving the market.
Hangseng's April contract is expiring today and the new May contract has started trade since yesterday. Hangseng's old contract may open around 25600 and new contract around 25500. Hangseng may watch closely on the Chinese markets for directions today as US markets turned slightly cautious ahead of The Fed's meeting. Profit taking may be in session today as futures contract is expiring. If Hangseng(New) able to breach 25700, it may try to go towards 25900ish or even 26000. However, if Hangseng fall towards 25300ish, it may find support around 25200.
Sabtu, 26 April 2008
Asian market preview 28/04/2008
US markets were closed stronger and posted a back to back weekly gains on Friday after overcoming economic worries from the consumer sentiment index and the spike in oil prices. Investors saw that first quarter's earnings are not so bad and the financials sector is doing better than previously anticipated. Earlier in the day, University of Michigan released its reading of consumer sentiment index at 62.6 for April, which is the lowest since early 1980s. Microsoft's earnings was softer than anticipated but neither the sentiment index nor microsoft's weak earnings can make investors worry too much. They believe that the global and US' business activity remains strong despite the much anticipated recession fears. The Dow ended up 42.91 pts or 0.33% to 12891.86, S&P500 rose 9.02 pts or 0.65% to 1397.84 while Nasdaq fell 5.99 pts or 0.25% to 2422.93. More earnings to come out next week from food producers such as Kellogg Co., Kraft Foods Inc. and Burger King Holdings Inc. and also from consumer goods producer such as P&G Co. The Fed's rate decision also to come next week and more economic data is to be announced for investors to gauge the health of US economy.
Asian markets may open higher again today, extending the rally from last week after investors have gained more confidence in the US markets over the state of the country's economic condition. People have started to pour more money into stock markets again now and hopefully this will last longer than just a mere technical rebound. However, with the ever rising oil prices and other commodity prices, inflation problems is looming bigger than ever before and this may make investors feel more nervous regarding the economic health globally. Oil rose again on Friday and was recently traded around $119.40ish per barrel, gold traded around $890.15ish and JPY traded around 104.40ish. Nikkei futures closed at 14025 in CME on Friday compared to the close of 13905 here on Friday.
Kospi may open higher today at around 238.50 and may even test the 240 level today should the investors feeling more confident regarding the overall economic conditions. However, please also note that volatility in the merket may be high caused by some investors who want to enjoy some profit while they're winning. Market may lose some steam if there are no other positive sentiment to come out of the country itself.
Hangseng may open higher again today around 25800-25900ish today and may even test the 26000 level if regional market would support its rally. Chinese market may be the main driver again for Hangseng and if the investors believe that the Chinese government will do something else to boost the Chinese markets, I believe that Hangseng will run up again this week. Hangseng have rallied quite a lot the past 2 weeks and global market conditions seem to be giving more encouragement for Hangseng to run up further. If Hangseng able to breach 26000, it may find resistance at around 26200 and if Hangseng should fall, it may find its support at 25500.
Asian markets may open higher again today, extending the rally from last week after investors have gained more confidence in the US markets over the state of the country's economic condition. People have started to pour more money into stock markets again now and hopefully this will last longer than just a mere technical rebound. However, with the ever rising oil prices and other commodity prices, inflation problems is looming bigger than ever before and this may make investors feel more nervous regarding the economic health globally. Oil rose again on Friday and was recently traded around $119.40ish per barrel, gold traded around $890.15ish and JPY traded around 104.40ish. Nikkei futures closed at 14025 in CME on Friday compared to the close of 13905 here on Friday.
Kospi may open higher today at around 238.50 and may even test the 240 level today should the investors feeling more confident regarding the overall economic conditions. However, please also note that volatility in the merket may be high caused by some investors who want to enjoy some profit while they're winning. Market may lose some steam if there are no other positive sentiment to come out of the country itself.
Hangseng may open higher again today around 25800-25900ish today and may even test the 26000 level if regional market would support its rally. Chinese market may be the main driver again for Hangseng and if the investors believe that the Chinese government will do something else to boost the Chinese markets, I believe that Hangseng will run up again this week. Hangseng have rallied quite a lot the past 2 weeks and global market conditions seem to be giving more encouragement for Hangseng to run up further. If Hangseng able to breach 26000, it may find resistance at around 26200 and if Hangseng should fall, it may find its support at 25500.
Jumat, 25 April 2008
Asian market preview 25/04/2008
US markets closed higher for second day last night after a surprise profit announced by Ford and after Merril Lynch said that they still have enough capital to maintain dividend. Retailers such as Macy Inc and Target Corp. rose after Dollar rebounded against the euro and after oil fell the most in a month. Markets initially fell after new home sales declined to the lowest since October 1991 but rebounded with good earnings report and financials got a boost. Initial claims unexpectedly drop and durable goods order jumped up exceeding expectations. All these data gave new speculations that the worst is actually behind us. The Dow ended higher by 85.73 pts or 0.67% to 12848.95, S&P500 rose 8.89 pts or 0.64% to 1388.82 while Nasdaq advanced 23.71 pts or 0.99% to 2428.92.
Asian markets may open higher in the last trading day of the week following the stronger-than-expected US data and earnings. However, investors may start to lock in profit today after a few days of gains this week. Oil prices fell the most and was recently traded around $115.90ish per barrel, gold traded around $885.25ish and JPY traded around 114.20ish. Nikkei futures closed closed at 13755 in CME compared to the close of 13450 here yesterday.
Kospi market may open higher again today at around 234ish and it may try to go towards 235 level today following the good US data overnight. Market may be volatile as investors may start to lock in profit going into the weekend. Strong market sentiment is there with the decline in oil and the rebound for US$.
Hangseng may open higher again today at around 25800 and it may test the 26000 level today following the strong close in Wall St overnight. China mainland market may still be in focus again after yesterday's huge rally of almost 10%. China markets may extend rally, but profit taking may also take place for investors as Hangseng have risen quite a lot the past week. If Hangseng able to breach 26000 level, it may try and go towards 26300 and if it fall, it may stay around 25400.
Asian markets may open higher in the last trading day of the week following the stronger-than-expected US data and earnings. However, investors may start to lock in profit today after a few days of gains this week. Oil prices fell the most and was recently traded around $115.90ish per barrel, gold traded around $885.25ish and JPY traded around 114.20ish. Nikkei futures closed closed at 13755 in CME compared to the close of 13450 here yesterday.
Kospi market may open higher again today at around 234ish and it may try to go towards 235 level today following the good US data overnight. Market may be volatile as investors may start to lock in profit going into the weekend. Strong market sentiment is there with the decline in oil and the rebound for US$.
Hangseng may open higher again today at around 25800 and it may test the 26000 level today following the strong close in Wall St overnight. China mainland market may still be in focus again after yesterday's huge rally of almost 10%. China markets may extend rally, but profit taking may also take place for investors as Hangseng have risen quite a lot the past week. If Hangseng able to breach 26000 level, it may try and go towards 26300 and if it fall, it may stay around 25400.
Kamis, 24 April 2008
Asian market preview 24/04/2008
US markets closed mildly higher overnight following the better-than-expected earnings from Boeing Co., technology and tobacco companies. These earnings and forecasts overshadowed the declines in financials sector. Energy producers also decline after oil dropped from its record highs set a day before to $117ish before rebounding back up again in the session. Lower metal prices did send mining companies down in the session and drag the markets towards negative territory. Analysts believe that the market will move in a seesaw manner with high volatilities during the rest of the earnings season. Insurance company, Liberty Mutual's plans to acquire another company, Safeco also pleased investors. The Dow rose 42.99 pts or 0.34% to 12763.22, S&P500 rose 3.99 pts or 0.29% to 1379.33 while Nasdaq climbed 28.27 pts or 1.19% to 2405.21.
Asian markets may open higher again today following a more stable earnings for the US markets overnight and a more stabilized oil prices and declining gold prices. Chinese markets may rally today after the US government cut trading tax from 0.3% to 0.1% overnight to boost the world's second worst performance market this year. Oil prices fell from its highest price and was recently traded around $118ish per barrel, gold traded around $904ish and JPY traded around 103.40ish. Nikkei futures was closed at 13670 in CME compared to the close of 13530 here yesterday.
Kospi may open higher again today at around 233ish and may try to get to the 235 level today depending on how good the performance over in the South Korean market today. Technology shares may get a boost from a better earnings in the US which indicates strong demands are still there for the tech sector.
Hangseng may open higher today and may extend rally from yesterday. Hangseng may open around 25400ish level and if it can breach the 24500 level, it may go higher towards 25800 level today and even 26000 level may be tried today. Hong Kong market may be boosted from the Chinese mainland markets which may be boosted from the trading tax cuts imposed by the US government. If Hangseng decided to fall, it may find support at 25200.
Asian markets may open higher again today following a more stable earnings for the US markets overnight and a more stabilized oil prices and declining gold prices. Chinese markets may rally today after the US government cut trading tax from 0.3% to 0.1% overnight to boost the world's second worst performance market this year. Oil prices fell from its highest price and was recently traded around $118ish per barrel, gold traded around $904ish and JPY traded around 103.40ish. Nikkei futures was closed at 13670 in CME compared to the close of 13530 here yesterday.
Kospi may open higher again today at around 233ish and may try to get to the 235 level today depending on how good the performance over in the South Korean market today. Technology shares may get a boost from a better earnings in the US which indicates strong demands are still there for the tech sector.
Hangseng may open higher today and may extend rally from yesterday. Hangseng may open around 25400ish level and if it can breach the 24500 level, it may go higher towards 25800 level today and even 26000 level may be tried today. Hong Kong market may be boosted from the Chinese mainland markets which may be boosted from the trading tax cuts imposed by the US government. If Hangseng decided to fall, it may find support at 25200.
Rabu, 23 April 2008
Asian market preview 23/04/2008
US markets fell overnight after earnings report and forecasts failed to impress investors and also concerns that high oil prices will add to inflation pressure. The company reporting earnings mostly met with analysts' expectation but their comments about future earnings made investors worry as economic slowdown looks likely, earnings will be hurt and companies lower their estimates. AT&T and Texas Instrument met analysts' estimates while McDonald's and DuPont exceed their estimates but comments from respective companies made investors nervous. More companies are to report earnings and the initial prospect of a stronger-than-expected earnings season more likely do not happen as some analysts predicted. Economic slowdown is going to hurt companies more than expected. The Dow fell 104.79 pts or 0.82% to 12720.23, S&P500 fell 12.23 pts or 0.88% to 1375.94 and Nasdaq fell 31.10 pts or 1.29% to 2376.94.
Asian markets may open lower today extending their losses from yesterday following the poor performance by the Dow. More worries by investors regarding the global economic outlook is going to play a major part in the markets movement. However, oil producers may be supporting the market after oil prices breached the $119 mark overnight. Oil was recently traded around $118.05ish, gold traded around $915.70ish and JPY traded around 102.80ish. Many companies may be hurt with high oil prices as inflation pressure may add to the concern to regional markets. Nikkei futures closed at 13520 in CME compared to the close of 13560 here yesterday.
Kospi may open lower again today around the 229-230ish level and it may go down further after concerns that earnings will not be as beautiful as expected in the US and recession may still be inevitable. However, judging from the past few days performance by Kospi, market may hold around 226ish and may go up to around 232ish.
Hangseng may open lower again today after a surprise surge in the 2nd session yesterday following the rebound made by China markets. Hangseng may open around 24800-24900ish level and may hold strong around 24600ish if it decided to go down. If it's able to break the 24500 level, it may go towards 24300 and if it can breach the 25000, it may go above towards 25200. Chinese markets may be in focus again today and after Hong Kong released a not-so-bad inflation data, market look to be quite strong to withstand the pressure from the US.
Asian markets may open lower today extending their losses from yesterday following the poor performance by the Dow. More worries by investors regarding the global economic outlook is going to play a major part in the markets movement. However, oil producers may be supporting the market after oil prices breached the $119 mark overnight. Oil was recently traded around $118.05ish, gold traded around $915.70ish and JPY traded around 102.80ish. Many companies may be hurt with high oil prices as inflation pressure may add to the concern to regional markets. Nikkei futures closed at 13520 in CME compared to the close of 13560 here yesterday.
Kospi may open lower again today around the 229-230ish level and it may go down further after concerns that earnings will not be as beautiful as expected in the US and recession may still be inevitable. However, judging from the past few days performance by Kospi, market may hold around 226ish and may go up to around 232ish.
Hangseng may open lower again today after a surprise surge in the 2nd session yesterday following the rebound made by China markets. Hangseng may open around 24800-24900ish level and may hold strong around 24600ish if it decided to go down. If it's able to break the 24500 level, it may go towards 24300 and if it can breach the 25000, it may go above towards 25200. Chinese markets may be in focus again today and after Hong Kong released a not-so-bad inflation data, market look to be quite strong to withstand the pressure from the US.
Selasa, 22 April 2008
Asian market preview 22/04/2008
US markets ended the session mixed following a disappointing results from Bank of America and National City Corp. and also after another record price set by oil. With the lack of economic data to come out this week, investors decided to cash in on their recent profit and sit on the sidelines, waiting for more corporate reports. Cautious mode is back in the markets and investors would choose to sell on news and they buy again on bargain prices. Analysts predicted that the markets may move in the tight range fluctuating up and down while investors evaluate the health of the economy. Merck, the largest pharmaceutical company reported better-than-forecast earnings last night after profits were nearly doubled. Apple Inc. helped boost Nasdaq overnight after analysts' lifted Apple's price target; Apple rose $7.12 or 4.4% to $168.16. The Dow lost 24.34 pts or 0.19% to 12825.02, S&P500 fell 2.16 pts or 0.16% to 1388.17 while Nasdaq rose 5.07 pts or 0.21% to 2408.04.
Asian markets may open rather flat today with a slight downside bias following another bad performance by financial sector over in Wall St last night. Investors may be cautious again following the report from US which indicated that the financial sector is still struggling. Rising oil prices may weigh on some stocks like airlines but may boost oil producers companies. Crude oil rose to a record last night and was recently traded around $117.50ish per barrel, gold traded around $915.50ish and JPY traded around 103.30ish. Nikkei futures closed at 13700 in CME overnight compared to the close of 13620 here yesterday.
Kospi may open rather flat around 231-232ish level today following the mixed close on Wall St overnight. Some selling pressure due to profit taking may take place today in the market but strong buy may still be there depending on the corporate news to come out of the country. Trading range may be small and volatility may be high today with investors selling and buying at bargain prices.
Hangseng may open around 24500-24600ish today and may have a profit taking session during the day. China's mainland markets may be in focus again to see if the rebound yesterday is going to last long. Some positiveness in the market is still there for Hangseng and market may move in a more volatile way today with energy shares and tech shares dominate the market. If market able to breach the 24900 mark, it may go towards 25000 and if market able to breach 24500 mark, it may go down towards 24300 level today.
Asian markets may open rather flat today with a slight downside bias following another bad performance by financial sector over in Wall St last night. Investors may be cautious again following the report from US which indicated that the financial sector is still struggling. Rising oil prices may weigh on some stocks like airlines but may boost oil producers companies. Crude oil rose to a record last night and was recently traded around $117.50ish per barrel, gold traded around $915.50ish and JPY traded around 103.30ish. Nikkei futures closed at 13700 in CME overnight compared to the close of 13620 here yesterday.
Kospi may open rather flat around 231-232ish level today following the mixed close on Wall St overnight. Some selling pressure due to profit taking may take place today in the market but strong buy may still be there depending on the corporate news to come out of the country. Trading range may be small and volatility may be high today with investors selling and buying at bargain prices.
Hangseng may open around 24500-24600ish today and may have a profit taking session during the day. China's mainland markets may be in focus again to see if the rebound yesterday is going to last long. Some positiveness in the market is still there for Hangseng and market may move in a more volatile way today with energy shares and tech shares dominate the market. If market able to breach the 24900 mark, it may go towards 25000 and if market able to breach 24500 mark, it may go down towards 24300 level today.
Sabtu, 19 April 2008
Asian market preview 21/04/2008
US markets rallied on Friday after results from big companies such as Google Inc., Caterpillar and Citigroup beating analysts' estimates and they raised earnings forecast and company performance for Q2. Google rallied $89.87 or 20% in one day, the most since its IPO in August 2004 after saying that sales rose 46% from text advertisements and overseas sales rose 55%. Caterpillar also rose the most in 7 years after earnings rose 13% from sales to China and India. Citigroup meanwhile, cut 9000 more jobs and reported $5.1 billion loss in Q1 but beating analysts' estimates. Investors started to realize now that in the first week of earnings, more than 50% companies that have already reported, came up with better earnings than estimates. It showed that companies outside financials are still doing good and outlook for second half of the year is looking good as some analysts forecasted. Oil rose to as high as $117 per barrel on speculation that economic growth will boost demand and also after some Nigerian militant seized an oil source. The Dow rallied 228.87 or 1.81% to 12849.36, S&P500 jumped 24.77 pts or 1.81% to 1390.33 and Nasdaq rose 61.14 pts or 2.61% to 2402.97.
Asian markets may jump higher at the open today following the strong close on Wall St last Friday. Positive earnings results from the US may have put some real confidence back into the Asian markets today. Investors however, might still choose to be careful with every news and results as some analysts still said that the rally may be short-lived. Markets today may have huge rally but investors may also stay cautious as oil prices hit all time high of $117 in the US on Friday. Oil refiners' profit are being reduced as higher oil prices means they have to pay more for raw materials. Crude oil was recently traded around $116.80ish, Gold was traded around $905ish, JPY traded around 103.50ish. Nikkei futures closed at 13790 in CME compared to the close of 13700 here on Friday.
Kospi may start the day higher today at around 233ish and may try and breach the 235 level today following the better-than-expected earnings from major financial companies like Citigroup and also Google. Tech sector may be boosted today and investors may gain more confident to invest in the market. Airlines companies may face more difficulties as oil touched new highs again on Friday at $117 per barrel.
Hangseng may start the day higher again today following the stronger close on Wall St last Friday. Hangseng may open around 24700ish and it may even test the 25000 level today should the investors stay positive from the US markets and if China's market post a rebound today. Tech companies may still play the biggest part in the rally while oil refiners and airline companies may weighed the market down.
Asian markets may jump higher at the open today following the strong close on Wall St last Friday. Positive earnings results from the US may have put some real confidence back into the Asian markets today. Investors however, might still choose to be careful with every news and results as some analysts still said that the rally may be short-lived. Markets today may have huge rally but investors may also stay cautious as oil prices hit all time high of $117 in the US on Friday. Oil refiners' profit are being reduced as higher oil prices means they have to pay more for raw materials. Crude oil was recently traded around $116.80ish, Gold was traded around $905ish, JPY traded around 103.50ish. Nikkei futures closed at 13790 in CME compared to the close of 13700 here on Friday.
Kospi may start the day higher today at around 233ish and may try and breach the 235 level today following the better-than-expected earnings from major financial companies like Citigroup and also Google. Tech sector may be boosted today and investors may gain more confident to invest in the market. Airlines companies may face more difficulties as oil touched new highs again on Friday at $117 per barrel.
Hangseng may start the day higher again today following the stronger close on Wall St last Friday. Hangseng may open around 24700ish and it may even test the 25000 level today should the investors stay positive from the US markets and if China's market post a rebound today. Tech companies may still play the biggest part in the rally while oil refiners and airline companies may weighed the market down.
Jumat, 18 April 2008
Asian market preview 18/04/2008
US markets ended the session flat overnight a day after surging more than 2%. Stocks were mixed after earnings results came out mixed too. IBM posted a better-than-forecast earnings while Pfizer and motorola trailed analysts' estimates. Merril Lynch also reported a Q1 loss of $2.14 billion and plans to cut 3000 more jobs. However, Merril's CEO believe that business conditions in April appear to be better than Q1 and its stock finished higher. Reports from the manufacturing sector showed that activity fell to -24.9 from -17.4 in March but the survey found most manufacturing executives "cautiously optimistic" about future activity. Unemployment claims were higher and that reinforced recession concerns. Unemployment claims rose by 17000 to 372000 last week. Analysts believe though that after a huge rally the day before and markets managed to hold most of the gains despite weak data, it showed positive signs for the market. The Dow edged up 1.22 pts or 0.01% to 12620.49, S&P500 rose 0.85 pts or 0.06% to 1365.56 while Nasdaq fell 8.28 pts or 0.35% to 2341.83.
Asian markets may start the day flat today and may have a slight downward bias as there are some weak economic data from the US and investors may lock in profits after 2 days of nice gains. Tech sector may drive the market again today following the better than expected google's earnings after hours in the US. Crude oil price stayed above $114 and was recently traded around $115ish per barrel, gold traded around $941.40ish and JPY weakened against the US to 102.40ish. Nikkei futures closed at 13480 in CME overnight compared to the close of 13420 here yesterday. Markets' volatility may be high today.
Kospi may start the day flat today following the uncertainties in the US with some upward bias in the open. WIth the Wall St managing to hold most of their gains from the previous sessions, Kospi may have some upward sentiment but investors may start to lock in profit after 2 days of nice gains. Market volatility maybe high as there are also some weak economic data out of the US. Financials sector was not as good as first anticipated as Merril posted bigger-than-expected loss. Chipmaker and tech sector may drive the market again today after IBM gave out good results.
Hangseng may start the day flat with upward bias today around 24300ish. With US ended its session flat, Hangseng may follow China markets for direction and today Hangseng may have some profit taking today also ahead of the weekend and if China investors are nervous regarding the rate decision, Hangseng may lose quite a lot. Markets volatility is expected to be high with 24000 as its support and 24500 as its resistance today.
Asian markets may start the day flat today and may have a slight downward bias as there are some weak economic data from the US and investors may lock in profits after 2 days of nice gains. Tech sector may drive the market again today following the better than expected google's earnings after hours in the US. Crude oil price stayed above $114 and was recently traded around $115ish per barrel, gold traded around $941.40ish and JPY weakened against the US to 102.40ish. Nikkei futures closed at 13480 in CME overnight compared to the close of 13420 here yesterday. Markets' volatility may be high today.
Kospi may start the day flat today following the uncertainties in the US with some upward bias in the open. WIth the Wall St managing to hold most of their gains from the previous sessions, Kospi may have some upward sentiment but investors may start to lock in profit after 2 days of nice gains. Market volatility maybe high as there are also some weak economic data out of the US. Financials sector was not as good as first anticipated as Merril posted bigger-than-expected loss. Chipmaker and tech sector may drive the market again today after IBM gave out good results.
Hangseng may start the day flat with upward bias today around 24300ish. With US ended its session flat, Hangseng may follow China markets for direction and today Hangseng may have some profit taking today also ahead of the weekend and if China investors are nervous regarding the rate decision, Hangseng may lose quite a lot. Markets volatility is expected to be high with 24000 as its support and 24500 as its resistance today.
Kamis, 17 April 2008
Asian market preview 17/04/2008
US markets were closed much higher overnight after better-than-expected earnings report from Intel, JPMorgan Chase & Co., Coca-Cola, Wells Fargo Inc. and other companies. Financials sector managed to hold their gains from previous session as earnings met analysts' forecast or even better which assured investors that the recovery is well along the way. Government report regarding the CPI data also provided some ease amongst investors. Labor department reported Consumer Price rose 0.3% in March, in line with expectations while Core inflation, which excludes food and energy prices, rose 0.2% also in line with expectations. These data showed that inflation is still under control. The earnings data showed that the US economy may be slowing but global growth is not very affected by it and looks like they're supporting the weakening US economy growth. The Dow finished 256.80 pts higher or 2.08% to 12619.27, S&P500 surged 30.28 pts or 2.27% to 1364.71 while Nasdaq rose 64.07 or 2.80% to 1364.71.
Asian markets may open higher again today and may continue yesterday's rally following strong US earnings and mild inflation data which suggests that the weakening economy does not affect earnings by much and that inflation is still under control. Meanwhile, oil rose to record highs again and gold prices also rose overnight. Oil was recently traded around $115.10ish per barrel, gold traded around $944.50ish and JPY traded around 101.83ish. Nikkei futures was closed at 13505 in CME compared to the close of 13120 here yesterday.
Kospi may open higher today around 232ish following the strong US close overnight. Easing concerns in the US may spark further rally and Kospi may test out the 235 level today. High oil prices may still put pressure on Airlines companies but oil players may gain some advantage from it. Commodity players also may get advantage from the rising prices.
Hangseng may open higher around 24400ish today following the strong US close. Hangseng may test out the 24500 level and if it's able to breach that, it may try and go towards 24800 or even 25000 today. However, markets in mainland China will be paid close attention too and if investors are still nervous over in China, gains may be limited with concerns about the Chinese government may raise interest rate to curb inflation. Oil refiners and airlines companies may be hurt by the rising oil prices. Overall sentiment in the market should be positive today.
Asian markets may open higher again today and may continue yesterday's rally following strong US earnings and mild inflation data which suggests that the weakening economy does not affect earnings by much and that inflation is still under control. Meanwhile, oil rose to record highs again and gold prices also rose overnight. Oil was recently traded around $115.10ish per barrel, gold traded around $944.50ish and JPY traded around 101.83ish. Nikkei futures was closed at 13505 in CME compared to the close of 13120 here yesterday.
Kospi may open higher today around 232ish following the strong US close overnight. Easing concerns in the US may spark further rally and Kospi may test out the 235 level today. High oil prices may still put pressure on Airlines companies but oil players may gain some advantage from it. Commodity players also may get advantage from the rising prices.
Hangseng may open higher around 24400ish today following the strong US close. Hangseng may test out the 24500 level and if it's able to breach that, it may try and go towards 24800 or even 25000 today. However, markets in mainland China will be paid close attention too and if investors are still nervous over in China, gains may be limited with concerns about the Chinese government may raise interest rate to curb inflation. Oil refiners and airlines companies may be hurt by the rising oil prices. Overall sentiment in the market should be positive today.
Rabu, 16 April 2008
Asian market preview 16/04/2008
US markets ended the trading session mildly higher overnight after a better-than-expected earnings from some smaller financial companies and healthcare company Johnson & Johnson. Investors were given a lot of data to digest and some postive signs came out of it. PPI data rose 1.1%, higher than expected but it's still in the comfort inflationary zone which indicates that The Fed still has room to cut more rates if the economy weakens further. Oil producers such as Exxon Mobil and Chevron rose after oil hit record highs overnight. Financials led the gains overall with banks stocks are considered to be quite cheap right now and analysts said that it's a good time for investors to go back into financials. Trading volumes were quite thin though as many investors are still waiting for the whole financials' earnings data to come out later on this week. JPMorgan will be announcing on Wednesday, Citigroup to report on Friday while Bank of America next week. Some investors are also nervous to see that food and other commodity prices keep soaring up and if it stays this way, it could be a problem. The Dow rose 60.41 pts or 0.49% to 12362.47, S&P500 rose 6.11 or 0.46% to 1334.43 while Nasdaq rose 10.22 pts or 0.45% to 2286.04.
Asian markets may open higher and may extend their rebound from yesterday following a more positive signs to come out of the US regarding earnings and inflation data. Many analysts believe that the 'worst' for credit crisis is behind us now and that this is a very good time for investors to go right back into the market. Crude oil and commodity prices will be eyed by investors. Oil producers may support the rally today after oil rose to record highs last night. Crude oil was recently traded around $113.70ish per barrel, gold traded around $927ish and JPY traded around 101.80ish. Nikkei futures closed at 13040 at CME overnight compared to the close of 12880 here yesterday.
The Kospi may open higher today at around 226ish after dropping for 2 days in a row yesterday. Kospi may rebounded today following the positive signs from the US and regional markets but investors may have to judge the market locally too. Volatility may still be high like yesterday as investors do not want to put high bets onto the market. Chipmakers may drive the market after Intel reported in line earnings report after hours in the US.
Hangseng may open higher at around 24000 and extend its rebound from yesterday following the better-than-expected reports and data out of the US. If Hangseng can breach 24000, it will find its resistance around 24300 and if it decided to go back down, it will find its support at 24600. Hangseng market may also look at China mainland market for direction and support its rally today. Volatility may be high in the market as there are more data to come out of the US tonight such as the CPI data and financials earnings report.
Asian markets may open higher and may extend their rebound from yesterday following a more positive signs to come out of the US regarding earnings and inflation data. Many analysts believe that the 'worst' for credit crisis is behind us now and that this is a very good time for investors to go right back into the market. Crude oil and commodity prices will be eyed by investors. Oil producers may support the rally today after oil rose to record highs last night. Crude oil was recently traded around $113.70ish per barrel, gold traded around $927ish and JPY traded around 101.80ish. Nikkei futures closed at 13040 at CME overnight compared to the close of 12880 here yesterday.
The Kospi may open higher today at around 226ish after dropping for 2 days in a row yesterday. Kospi may rebounded today following the positive signs from the US and regional markets but investors may have to judge the market locally too. Volatility may still be high like yesterday as investors do not want to put high bets onto the market. Chipmakers may drive the market after Intel reported in line earnings report after hours in the US.
Hangseng may open higher at around 24000 and extend its rebound from yesterday following the better-than-expected reports and data out of the US. If Hangseng can breach 24000, it will find its resistance around 24300 and if it decided to go back down, it will find its support at 24600. Hangseng market may also look at China mainland market for direction and support its rally today. Volatility may be high in the market as there are more data to come out of the US tonight such as the CPI data and financials earnings report.
Selasa, 15 April 2008
Asian market preview 15/04/2008
US markets end the session modestly lower last night where investors decided to take a little break after the selloff on Friday following the disappointing GE results. Last night, another surprise came from Wachovia Inc., which posted an unexpected loss of $393 million and cutting its quarterly dividend 41%. Wachovia also said that they are planning to raise $7 billion to replenish their capital, lost from credit problems. The overall markets decline was limited though by a better-than-expected report on retail sales. March's retail sales showed a 0.2% rise following February's 0.6% decline and was better than the expected flat reading. Trading was slow overnight and investors are still waiting for more bad news to come. Citigroup also declined after analysts cut its 2008 and 2009 earnings estimates. The Dow fell 23.36 pts or 0.19% to 12302.06, S&P500 fell 4.51 pts or 0.34% to 1328.32 while Nasdaq fell 14.42 pts or 0.63% to 2275.82.
Asian markets may open quite flat today following the huge selloff yesterday. Markets may edge lower on more uncertainties from the US, but it may be limited and markets may even rebound from yesterday's big losses. An increase in retail sales over in the US may be used as a reason for investors to start some bargain hunting to get quick profit in these uncertain times. Oil price rose overnight and was closed at a record closing price. Recently, oil was traded around $111.88ish per barrel, gold was traded around $923.30ish and JPY traded around 101.12. Nikkei futures closed at 12985 at CME overnight compared to the close of 12905 here yesterday.
Kospi may start the session rather flat with a modest loss posted by the US markets after Wachovia Inc.'s disappointing results. The South Korean market may have a rebound too if earnings from its own country is not as disappointing as predicted. However, higher oil prices may put some pressure too in the market. Volatility may be high in the market as investors are still waiting for more bad news to come.
Hangseng may start the day quite flat around the 23800ish level and it may even rise quite a bit after a huge more than 3% drop yesterday. Today may be a day for quick hit and runs for daytraders as volatility maybe high. Mainland China market may still have some impact on the Hangseng market and may drive the market lower further if China markets are still nervous about the rate decisions.
Asian markets may open quite flat today following the huge selloff yesterday. Markets may edge lower on more uncertainties from the US, but it may be limited and markets may even rebound from yesterday's big losses. An increase in retail sales over in the US may be used as a reason for investors to start some bargain hunting to get quick profit in these uncertain times. Oil price rose overnight and was closed at a record closing price. Recently, oil was traded around $111.88ish per barrel, gold was traded around $923.30ish and JPY traded around 101.12. Nikkei futures closed at 12985 at CME overnight compared to the close of 12905 here yesterday.
Kospi may start the session rather flat with a modest loss posted by the US markets after Wachovia Inc.'s disappointing results. The South Korean market may have a rebound too if earnings from its own country is not as disappointing as predicted. However, higher oil prices may put some pressure too in the market. Volatility may be high in the market as investors are still waiting for more bad news to come.
Hangseng may start the day quite flat around the 23800ish level and it may even rise quite a bit after a huge more than 3% drop yesterday. Today may be a day for quick hit and runs for daytraders as volatility maybe high. Mainland China market may still have some impact on the Hangseng market and may drive the market lower further if China markets are still nervous about the rate decisions.
Senin, 14 April 2008
Asian market preview 14/04/2008
US markets tumbled on Friday after earnings report from GE shocked investors and analysts and turned them into selloff mode. The report showed that GE's profit dropped by 6% and missed analysts' estimate, which is very rare for GE. The company also lowererd its full year earnings forecast to little or no growth for all of 2008. This report heightened fears of more grim earnings news and profit outlook to come out in very near term. Markets may face more wild ride as more earnings from banks and also inflation data to come out this week. The Dow plummeted 256.56 pts or 2.04% to 12325.42, S&P500 fell 27.72 pts or 2.04% to 1332.83 while Nasdaq tumbled 61.46 pts or 2.61% to 2290.24.
Asian markets may opened lower today following the shocking earnings report from GE and more worries are to be expected by investors to come out of the US. Investors in Asia however, will also pay close attention to the respective countries earnings prospect and report to gauge the local market. Meanwhile, US$ rose against major currencies after G7 raises concern about the Dollar weakness might disrupt global economy and financial markets. JPY was traded around 101.24ish after closing at 100.95 on Friday. Crude oil fell below $110 and was recently traded around $109.80ish and gold traded around $918.30ish. Nikkei futures closed down at 13040 compared to the close of 13215 here on Friday.
The Kospi may open lower today and take a breather after US stock markets went back into panic and selloff mode on Friday. The index may open around 225ish and may go lower further if investors should decide to lock in recent profit gains. However, gauging from the strength of the market, losses might be limited and markets may start to climb up again. Local investors may also pay close attention to South Korea's economic state.
Hangseng may open lower around 24000ish and may fall further towards 23800ish today. China market may play a part again today and help investors see which direction the market is going to go during the day. Nervous investors may selloff further following the news to come out of China regarding its inflation state and also more earnings report will be paid close attention by investors. Should Hangseng able to sustain its losses and rise up, it will go towards 24800 level.
Asian markets may opened lower today following the shocking earnings report from GE and more worries are to be expected by investors to come out of the US. Investors in Asia however, will also pay close attention to the respective countries earnings prospect and report to gauge the local market. Meanwhile, US$ rose against major currencies after G7 raises concern about the Dollar weakness might disrupt global economy and financial markets. JPY was traded around 101.24ish after closing at 100.95 on Friday. Crude oil fell below $110 and was recently traded around $109.80ish and gold traded around $918.30ish. Nikkei futures closed down at 13040 compared to the close of 13215 here on Friday.
The Kospi may open lower today and take a breather after US stock markets went back into panic and selloff mode on Friday. The index may open around 225ish and may go lower further if investors should decide to lock in recent profit gains. However, gauging from the strength of the market, losses might be limited and markets may start to climb up again. Local investors may also pay close attention to South Korea's economic state.
Hangseng may open lower around 24000ish and may fall further towards 23800ish today. China market may play a part again today and help investors see which direction the market is going to go during the day. Nervous investors may selloff further following the news to come out of China regarding its inflation state and also more earnings report will be paid close attention by investors. Should Hangseng able to sustain its losses and rise up, it will go towards 24800 level.
Jumat, 11 April 2008
Asian market preview 11/04/2008
US markets closed higher overnight despite mixed data came out of the retail sector and Labor department. Stocks were boost after labor department said that jobless claims fell more than expected and also after better-than-expected sales performance by discount retailers. Big retailers such as Gap Inc. and Saks Inc. said that March sales were sluggish as consumers did not want to spend much on these luxury goods. Intel led semiconductor shares to a 2-month high after analysts said that the company will boost profitability and buy back more stocks. Cisco systems rallied after Morgan Stanley said revenue may top estimates. Analysts said that technology sector is overweight now as shares are cheap after recent big drops on the Nasdaq. The Nasdaq got a big boost after Japanese drug maker Takeda Pharmaceutical Co. announced an $8.8 billion, all-cash bid for US biotechnology company Millenium Pharmaceuticals which boosted Millenium shares by 49%. The Dow rose 54.72 pts or 0.44% to 12581.98, S&P500 rose 6.06 pts or 0.45% to 1360.55 while Nasdaq rose 29.58 pts or 1.27% to 2351.70.
Asian markets may open higher today after a mixed session yesterday. Markets may track the US markets and trade higher after some confidence is restored back into the market with the fall in jobless claims. Crude oil fell after it rose to a record and was recently traded around $109.70ish per barrel. Gold was traded around $928ish and JPY traded around 101.70ish. Nikkei futures was closed at 13065 in CME compared to the close of 12925 here yesterday.
The Kospi may open higher today extending the advance from yesterday. Kospi may open around 230ish and may extend its rally towards the 232ish level. Chip makers may boost the market today and slight optimism shown from the drop in jobless claims in the US may bring back some foreign investors to the country.
Hangseng may open higher today and extend its rebound from yesterday. The highly anticipated earnings reports from Chinese banks which was expected to post high profit in Q1 is going to be released today and may be the driving factor for the market today. Market may test the 24500 level and if it's able to breach that, it may go higher towards 24800ish. If market should drop, it may test the 23800 level.
Asian markets may open higher today after a mixed session yesterday. Markets may track the US markets and trade higher after some confidence is restored back into the market with the fall in jobless claims. Crude oil fell after it rose to a record and was recently traded around $109.70ish per barrel. Gold was traded around $928ish and JPY traded around 101.70ish. Nikkei futures was closed at 13065 in CME compared to the close of 12925 here yesterday.
The Kospi may open higher today extending the advance from yesterday. Kospi may open around 230ish and may extend its rally towards the 232ish level. Chip makers may boost the market today and slight optimism shown from the drop in jobless claims in the US may bring back some foreign investors to the country.
Hangseng may open higher today and extend its rebound from yesterday. The highly anticipated earnings reports from Chinese banks which was expected to post high profit in Q1 is going to be released today and may be the driving factor for the market today. Market may test the 24500 level and if it's able to breach that, it may go higher towards 24800ish. If market should drop, it may test the 23800 level.
Kamis, 10 April 2008
Asian market preview 10/04/2008
US markets fell again last night after oil reached to record highs and after warning from UPS sparked some sell-off by investors. UPS slashed its earnings forecast for Q1 after saying that higher oil prices and slower consumer demands were chewing away their profit for the quarter. Financial institutions such as Lehman Bros, Goldman Sachs and Morgan Stanley dragged the sector lower after reporting that there are more "level 3" assets (assets that are harder to liquid) that they own in 1st quarter. Retailers also dragged market down and Amazon Inc., the biggest internet retailers fell the most this month on analyst report that reduced spending may curb earnings. Earnings reports will play significant part this month as they will let investors see how corporate perform during the 1st quarter and how well is the economy doing. The Dow fell 49.18 pts or 0.39% to 12527.26, S&P500 fell 11.05 or 0.81% to 1354.49 while Nasdaq fell 26.64 pts or 1.13% to 2322.12.
Asian markets may extend the losses from yesterday today after oil and commodity prices soared to record highs. Markets may start slow today with a downward bias and the pressure may heightened if investors are becoming more cautious in gauging the overall global economy. Crude oil was traded around $110.60ish recently after reaching its new record of $112.21 overnight, gold was traded around $933ish and JPY traded around 101.80ish. Nikkei futures was closed at 13120 at CME compared to the close of 13145 here yesterday.
The Kospi will resume trading today after a one day holiday yesterday and may open around 225ish. Market may fall further today tracking regional markets losses yesterday and today after commodity prices rocketed overnight. Chipmakers may weigh on the market more as the outlook on tech sector in the US seem to be rather gloomy.
Hangseng may open lower again today around 23800ish and if it can breach that level, it may go down further towards 23500ish today. Sinopec may weigh on the market again after oil prices soared to record highs. Market will also pay close attention to earnings report and also may track the movement of the China market in mainland. Slight rebound may happen too today after 2 days of drops. If market should rebound, 24200ish is the first resistance target.
Asian markets may extend the losses from yesterday today after oil and commodity prices soared to record highs. Markets may start slow today with a downward bias and the pressure may heightened if investors are becoming more cautious in gauging the overall global economy. Crude oil was traded around $110.60ish recently after reaching its new record of $112.21 overnight, gold was traded around $933ish and JPY traded around 101.80ish. Nikkei futures was closed at 13120 at CME compared to the close of 13145 here yesterday.
The Kospi will resume trading today after a one day holiday yesterday and may open around 225ish. Market may fall further today tracking regional markets losses yesterday and today after commodity prices rocketed overnight. Chipmakers may weigh on the market more as the outlook on tech sector in the US seem to be rather gloomy.
Hangseng may open lower again today around 23800ish and if it can breach that level, it may go down further towards 23500ish today. Sinopec may weigh on the market again after oil prices soared to record highs. Market will also pay close attention to earnings report and also may track the movement of the China market in mainland. Slight rebound may happen too today after 2 days of drops. If market should rebound, 24200ish is the first resistance target.
Rabu, 09 April 2008
Asian market preview 09/04/2008
US markets fell the most this month after disappointing reports from Alcoa and AMD and also from companies slashing Q1 profit forecasts. Washington Mutual, Intel, Novellus Systems, Freddie Mac and Fannie Mae are among those predicted to have lower earnings for Q1 and analysts downgraded the stocks. Pending home sales data came out worse than expected overnight added to the weight for markets. The Fed's minute for 18th March meeting showed that Fed's forecast that recession will happen in the first half of this year and it might be prolonged and more severe. Adding to the worry was that The Fed may not have enough room to have more interest rate cut to reduce the recession effect with the ever rising inflation globally. The Dow fell 35.99 pts or 0.29% to 12576.44, S&P500 fell 7 pts or 0.51% to 1365.54 while Nasdaq fell 16.07 pts or 0.68% to 2348.76.
Asian markets may open rather flat but with downside bias today. Markets may extend losses after more worrying news came out of the US overnight regarding corporate earnings as well as The Fed's recession fears. However, losses may be limited with US$ gained some grounds against major Asian currencies and energy & mining companies may support the markets today. Crude oil rose overnight and was recently traded around $108.80ish per barrel, gold was recently traded around $915.70ish and JPY weakened against US$ and was traded around 102.70ish. Nikkei futures was closed at 13360 at CME compared to the close of 13235 here yesterday.
The Kospi market is closed for public holiday today.
Hangseng may open around 24400ish and may have a rebound today following the profit taking action yesterday. However, market may still have some downside bias as more fears came out of the US overnight. Support level is at 24000 and if Hangseng able to breach that, it may move lower towards 23800ish. Resistance is at 24500 and it may go higher if Hangseng is able to go above that level.
Asian markets may open rather flat but with downside bias today. Markets may extend losses after more worrying news came out of the US overnight regarding corporate earnings as well as The Fed's recession fears. However, losses may be limited with US$ gained some grounds against major Asian currencies and energy & mining companies may support the markets today. Crude oil rose overnight and was recently traded around $108.80ish per barrel, gold was recently traded around $915.70ish and JPY weakened against US$ and was traded around 102.70ish. Nikkei futures was closed at 13360 at CME compared to the close of 13235 here yesterday.
The Kospi market is closed for public holiday today.
Hangseng may open around 24400ish and may have a rebound today following the profit taking action yesterday. However, market may still have some downside bias as more fears came out of the US overnight. Support level is at 24000 and if Hangseng able to breach that, it may move lower towards 23800ish. Resistance is at 24500 and it may go higher if Hangseng is able to go above that level.
Selasa, 08 April 2008
Asian Market Preview 08/04/2008
US markets ended the session mixed overnight after opened higher on speculation Washington Mutual Inc. will get a $5 billion investment. Markets played around its highs for most of the days but finally gave up most of their gains, paced by a statement released by Henry Paulson saying that the economy has slowed down dramatically and risks remain in housing and capital markets. Investors have also taken their money off the table for now, waiting for the earnings season to kick off. Alcoa, which started the earnings season missed analysts' estimate and AMD also trailed analysts' estimate and planned to cut 10% jobs. Dow Jones rose 3.01 pts or 0.02% to 12612.43 after rising more than 120 pts earlier, S&P500 rose 2.14 pts or 0.16% to 1372.54 while Nasdaq slipped 6.15 pts or 0.26% to 2364.83.
Asian markets may opened flat today following the flat close over in the US. Higher oil and commodity prices may weigh on the market today and with lack of major economic news from the US, Asian markets may take a breather today after running a marathon for the past week but there's still room for markets to rise. Crude oil rose yovernight and was recently traded around $108.80ish per barrel, gold traded around $920ish and JPY weakened against US$ and was traded around 102.40ish. Mining stocks may dominate most Asian markets today after metal prices rose overnight. Nikkei futures was closed at 13490 in CME compared to the close of 13545 here yesterday.
The Kospi may opened flat today around 229ish but market may still have some steam to rise higher today. With the lack of major economy news, investors may go into profit taking session ahead of the holiday for South Korea on the 9th. Earnings for companies in the country may be the driving factor for the market's movement today.
Hangseng may opened around 24600ish and may have a consolidation after having a nice rally the past week. However, Hangseng may rise higher today too as the market is still considered to be quite cheap compared to the start of the year. Support for Hangseng is around 24400 and if Hangseng is able to breached that, it may go down further at 24200 or even 24000ish. Resistance is around 24800ish and if it can breached that level, it may try 25000ish.
Asian markets may opened flat today following the flat close over in the US. Higher oil and commodity prices may weigh on the market today and with lack of major economic news from the US, Asian markets may take a breather today after running a marathon for the past week but there's still room for markets to rise. Crude oil rose yovernight and was recently traded around $108.80ish per barrel, gold traded around $920ish and JPY weakened against US$ and was traded around 102.40ish. Mining stocks may dominate most Asian markets today after metal prices rose overnight. Nikkei futures was closed at 13490 in CME compared to the close of 13545 here yesterday.
The Kospi may opened flat today around 229ish but market may still have some steam to rise higher today. With the lack of major economy news, investors may go into profit taking session ahead of the holiday for South Korea on the 9th. Earnings for companies in the country may be the driving factor for the market's movement today.
Hangseng may opened around 24600ish and may have a consolidation after having a nice rally the past week. However, Hangseng may rise higher today too as the market is still considered to be quite cheap compared to the start of the year. Support for Hangseng is around 24400 and if Hangseng is able to breached that, it may go down further at 24200 or even 24000ish. Resistance is around 24800ish and if it can breached that level, it may try 25000ish.
Minggu, 06 April 2008
Asian market preview 07/04/2008
Most shares rose in the US on Friday following the bad economic data on non farm payrolls and unemployment rate. Employers slashed 80,000 jobs and unemployment rate rose 5.1% which were the highest since September 2005. These data were worse than expected but most investors have already anticipated that and they're more optimistic regarding the stock markets after banks showed signs of recovery in replenishing their capital. Analysts have become more optimistic after a series of bad data and yet the US markets were still able to post a big weekly gain last week. Dow Jones slipped 16.61 pts or 0.13% to 12609.42, S&P500 gained 1.09 pts or 0.08% to 1370.40 while Nasdaq rose 7.68 pts or 0.32% to 2370.98.
Asian markets may open flat today following the bad and worse economic data than previously anticipated by investors. Most shares in the US adavanced on Friday, led by commodity producers and also financial sectors even after plunging at the open caused by bad data. Crude oil rose on Friday and was traded around $106ish per barrel, gold also rose on Friday and was traded around $913ish while JPY gained some grounds against US$ and was traded around 101.50ish. Nikkei futures was closed at 13350 at CME compared to the close of 13345 here on Friday.
The Kospi may start the day flat with a downside bias today following the bad data over in the US and also the rise in commodity prices may spark more concerns among local investors. Market may open around 229ish and investors may have a little bit profit taking session after the market rose quite a lot for the past week. However, I think the market won't go down very much and may rise again later on in the day as more confidence and optimism were shown over in the US with most shares advanced rather than declined on Friday.
Hangseng may start the day lower today around 24150ish after the bad data over in the US is worse than most analysts expected. With Hong Kong market's holiday on Friday, profit taking may take place early in the session today as nervous investors may start to lock in profit after the market have risen so much the past week. However, market won't go weak very long or too deep as the market worldwide have shown more optimism that the US markets have started its recovery process.
Asian markets may open flat today following the bad and worse economic data than previously anticipated by investors. Most shares in the US adavanced on Friday, led by commodity producers and also financial sectors even after plunging at the open caused by bad data. Crude oil rose on Friday and was traded around $106ish per barrel, gold also rose on Friday and was traded around $913ish while JPY gained some grounds against US$ and was traded around 101.50ish. Nikkei futures was closed at 13350 at CME compared to the close of 13345 here on Friday.
The Kospi may start the day flat with a downside bias today following the bad data over in the US and also the rise in commodity prices may spark more concerns among local investors. Market may open around 229ish and investors may have a little bit profit taking session after the market rose quite a lot for the past week. However, I think the market won't go down very much and may rise again later on in the day as more confidence and optimism were shown over in the US with most shares advanced rather than declined on Friday.
Hangseng may start the day lower today around 24150ish after the bad data over in the US is worse than most analysts expected. With Hong Kong market's holiday on Friday, profit taking may take place early in the session today as nervous investors may start to lock in profit after the market have risen so much the past week. However, market won't go weak very long or too deep as the market worldwide have shown more optimism that the US markets have started its recovery process.
Jumat, 04 April 2008
Asian market preview 04/04/2008
US markets managed to close slightly higher overnight after Merril Lynch & Co. said that they have enough capital to weather credit crisis. Markets dipped earlier in the session after jobless claims spiked to a level not seen since September 2005. Most analysts believe that we're actually bottoming out in the credit crisis situation as the markets can now stand bad economic data and still performing well throughout the week. Trading volume was thin last night as investors are waiting for payrolls data to be released later on tonight. More bad news are to come out of the US but markets may take it well as they have more confidence in how the financial institutions handle the situation. The Dow rose 20.20 pts or 0.16% to 12626.03, S&P500 rose 1.78 pts or 0.13% to 1369.31 while Nasdaq rose 1.90 pts or 0.08% to 2363.30.
Asian markets may open flat today with a slight upward bias. Markets may move in a tight trading range today following the recent big rally performed by Asian markets. Some profit taking may take place today ahead of the US payrolls data to be released later on tonight. Crude oil was recently traded around $104.20 per barrel, gold went back up above $900 and was recently traded around $905ish and JPY traded around 102.20ish. Nikkei futures was closed at 13380 in CME overnight compared to the close of 13385 here yesterday.
Kospi may open flat around 228ish today and it may rise slightly but a consolidation and profit taking may take place today. The US markets posted a slight gain last night but the gain was modest and investors may want to wait on the sidelines and wait for more important US economic data to be released later on tonight.
Hangseng market is closed for holiday today.
Asian markets may open flat today with a slight upward bias. Markets may move in a tight trading range today following the recent big rally performed by Asian markets. Some profit taking may take place today ahead of the US payrolls data to be released later on tonight. Crude oil was recently traded around $104.20 per barrel, gold went back up above $900 and was recently traded around $905ish and JPY traded around 102.20ish. Nikkei futures was closed at 13380 in CME overnight compared to the close of 13385 here yesterday.
Kospi may open flat around 228ish today and it may rise slightly but a consolidation and profit taking may take place today. The US markets posted a slight gain last night but the gain was modest and investors may want to wait on the sidelines and wait for more important US economic data to be released later on tonight.
Hangseng market is closed for holiday today.
Kamis, 03 April 2008
Asian market preview 03/04/2008
The US markets took a breather overnight after oil and gasoline prices spiked up and also after Bernanke congressional testimony saying that recession may be underway as housing slumped and consumer spending weaken. Investors are concern about the recession news and always pay close attention to the data and news regarding it. However, Bernanke's testimonial was expected by most investors and analysts after they have gone through a bad quarter in Q1. Higher energy prices sparked concerns that consumers may be under stress again in a recession showing economy and after Bernanke said that he expects the economy to contract in the first half. The Dow slipped 48.53 pts or 0.38% to 12605.83, S&P500 fell 2.65 or 0.19% to 1367.53. Nasdaq fell 1.35 pts or 0.06% to 2361.40. It is normal for markets to fall slightly and take a breather after gaining so much the day before.
Asian markets may open flat with an upward bias today following the slight decline on Wall St overnight. Markets may also follow Wall St to fall slightly later on as Asian markets have gone up quite a lot the past week. Crude oil and gold price may cause some strength for the energy and commodity shares today. Oil was recently traded around $104.68 per barrel, gold traded around $902.70ish and JPY traded around 102.30ish. Nikkei futures was closed at 13305 in CME overnight compared to the close of 13260 here yesterday.
The Kospi may open slightly higher today at around 226.50ish and may continue on higher if there are no bad news to come out of the country regarding earnings and other stuff. Volatility may be high as investors may start to lock in profit too after the market rally quite a lot the past week.
Hangseng may open around 23900ish today and may continue on the rally for the past few days today. However, some profit taking may take place too today as Hangseng has gained a lot since last week. Small trading range may be expected today with energy stocks may be the main driving force in the market.
Asian markets may open flat with an upward bias today following the slight decline on Wall St overnight. Markets may also follow Wall St to fall slightly later on as Asian markets have gone up quite a lot the past week. Crude oil and gold price may cause some strength for the energy and commodity shares today. Oil was recently traded around $104.68 per barrel, gold traded around $902.70ish and JPY traded around 102.30ish. Nikkei futures was closed at 13305 in CME overnight compared to the close of 13260 here yesterday.
The Kospi may open slightly higher today at around 226.50ish and may continue on higher if there are no bad news to come out of the country regarding earnings and other stuff. Volatility may be high as investors may start to lock in profit too after the market rally quite a lot the past week.
Hangseng may open around 23900ish today and may continue on the rally for the past few days today. However, some profit taking may take place too today as Hangseng has gained a lot since last week. Small trading range may be expected today with energy stocks may be the main driving force in the market.
Selasa, 01 April 2008
Asian market preview 01/04/2008
US markets ended the dismal Q1 2008 marginally higher overnight after a better-than-expected reading in the Chicago Purchasing Managers Index, which came in first before the ISM manufacturing index due out later on tonight. The index rose to 48.2 compared to the 44.5 a month earlier and the expected of 47.3 by economists. Trading volumes were light and market was not as enthusiastic with the data as it has been the most difficult quarter since Q3 2002 and investors' apetite for stocks has declined. The Dow ended up 46.49 pts or 0.38% to 12262.89, S&P500 rose 7.48 pts or 0.57% to 1322.70 while Nasdaq climbed 17.92 pts or 0.79% to 2279.10.
Asian markets may open higher today after the better-than-expected report from the US overnight. Investors may think that Asian markets will be able to weather the worsening economic outlook in the US. Crude oil and commodity prices fell overnight as Iraq resumed supply for oil and gold also declined almost $20. Crude oil was recently traded around $100ish per barrel, gold traded around $918ish and JPY traded around 99.80ish. Nikkei futures closed at 12730 in CME overnight and was opened at 12610 here today and recently at around 12720 after the Tankan survey came out earlier this morning.
The Kospi was opened around 217.65 and it rose higher just within 1 hour of trading and was recently around 220.50 after the positive business sentiment from the US and also driven by regional indices such as Nikkei. Kospi may be able to sustain its gain today and may even rise higher again later today.
Hangseng may open higher around 22800ish and it may go up beyond the 23000ish level again today should more investors are beginning to regain optimism in the new quarter this year. Regional indices may be one of the driving factor for Hangseng today and lower energy prices may also help the market. Positive news from the US is most likely be the main factor to consider for Hangseng.
Asian markets may open higher today after the better-than-expected report from the US overnight. Investors may think that Asian markets will be able to weather the worsening economic outlook in the US. Crude oil and commodity prices fell overnight as Iraq resumed supply for oil and gold also declined almost $20. Crude oil was recently traded around $100ish per barrel, gold traded around $918ish and JPY traded around 99.80ish. Nikkei futures closed at 12730 in CME overnight and was opened at 12610 here today and recently at around 12720 after the Tankan survey came out earlier this morning.
The Kospi was opened around 217.65 and it rose higher just within 1 hour of trading and was recently around 220.50 after the positive business sentiment from the US and also driven by regional indices such as Nikkei. Kospi may be able to sustain its gain today and may even rise higher again later today.
Hangseng may open higher around 22800ish and it may go up beyond the 23000ish level again today should more investors are beginning to regain optimism in the new quarter this year. Regional indices may be one of the driving factor for Hangseng today and lower energy prices may also help the market. Positive news from the US is most likely be the main factor to consider for Hangseng.
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