US markets ended the session higher last night after a good GDP report and a plunge in oil prices convince investors to put more money into the stock markets. GDP showed that the economy grew at 0.9% pace in Q1, better than previously stated at 0.6%. With this data, the US economy didn't have a quarter with negative GDP number and analysts believe that the recession in the US have been averted since recession is defined by 2 quarters of negative GDP growth. The rising dollar helped pushed oil downwards to settle at $126.62, which is the lowest close in 2 weeks. With good GDP and lower oil prices, investors have gained more confidence that the economy grow will pick up in 2nd quarter but it also means that The Fed may have to start to raise rates to stem inflation somewhere in September. The Dow ended up by 52.19 pts or 0.41% to 12646.22, S&P500 rose 7.42 pts or 0.53% to 1398.26 while Nasdaq rose 21.52 pts or 0.87% to 2508.32.
Asian markets may open higher again today and may continue their rally from yesterday. Nikkei, which had a biggest rally in the past few months may continue to rise again today after dollar strengthened against Yen and may help exporters to get more grounds in the market. The decline in oil prices may convince investors to put more money into the markets as it eases more inflationary pressure but may have significant impact on oil producers. Investors should also watch for profit taking as today being a Friday and after most markets gained quite a lot yesterday, there's also chance that people may want to enjoy profit today. Oil was recently traded around $126.39ish per barrel, gold traded around $876.85ish and JPY traded around 105.50ish. Nikkei futures was closed at 14240 in CME compared to the close of 14145 here yesterday.
Kospi may open higher today and may extend their rally from yesterday. A drop in oil and good US GDP data may helped push the market higher today and a better-than-expected earnings report from Dell may help push tech sector higher today. Kospi may open around 238ish and may even try to get to the 240 mark today if investors are confident enough. However, selling pressures may be seen as the market go near that area and do not forget today is a Friday and profit taking may even kick in after a market had a decent run up yesterday.
Hangseng may open higher yet again today and may hold onto its gains this time. A drop in oil and a good US GDP data may help push stocks higher today with investors come in as they believe that the global recession may have been averted. Hangseng may open at around 24500ish again today and if it can go past that, it may find its resistance at 24700. However, there's also chance that investors may want to have profit taking session again today as they don't want to go into the weekend with big positions. Hangseng may have its support at 24300 today. With May futures contract expired yesterday, the new June contract have about 100 pts discount to the money market.
Jumat, 30 Mei 2008
Kamis, 29 Mei 2008
Asian market preview 29/05/2008
US markets finished the session moderately higher for 2nd straight session last night. Better-than-expected durable goods data helped push stocks higher and a rebound in oil helped oil producers and commodity related stocks to rebound from previous day's losses. Financial sectors weigh on the market though and caused markets to be very volatile last night. Analysts thought that the recovery in the financial sector may take very long to complete and that negative sentiment certainly pushed the group down. The Dow ended up by 45.68 pts or 0.36% to 12594.03, S&P500 rose 5.49 pts or 0.40% to 1390.84 and Nasdaq rose 5.46 pts or 0.22% to 2486.70.
Asian markets may open the day higher again today after ending the session lower yesterday caused by the sharp dip in oil prices weighed on oil producers. Today however, markets around the region may rise and get some rebound from yesterday's losses. Market volatility maybe high as higher oil prices may drive oil producers such as Inpex to get some rebound but still weigh on other sector with inflationary fears mounting yet again. Oil was recently traded around $130.58ish per barrel, gold traded around $902.15ish and JPY traded around 104.62ish. Nikkei futures closed at 13910 in CME last night compared to the close of 13830 here yesterday.
Kospi may start the day higher yet again today at around 233ish and may rise to get some rebound after ending the session lower yesterday. A selloff in equities was sparked yesterday as oil prices dipped sharply from record and also was pushed down by LG electronics. If investors are confident enough, the index may reach the 235ish mark again but if it can breach yesterday's intraday low at 230.75, it may continue down further towards 228ish.
Hangseng may start the day higher today at around 24300ish today and with May futures contract set to expire today, it may drive the market higher and get some rebound today. Oil producers such as CNOOC which was battered yesterday may stage a rebound today and investors may start buying into banks again today. Hangseng may find its strong resistance at around 24500 and if it should fall below the 24100 mark, it may find a strong support at 24000 today.
Asian markets may open the day higher again today after ending the session lower yesterday caused by the sharp dip in oil prices weighed on oil producers. Today however, markets around the region may rise and get some rebound from yesterday's losses. Market volatility maybe high as higher oil prices may drive oil producers such as Inpex to get some rebound but still weigh on other sector with inflationary fears mounting yet again. Oil was recently traded around $130.58ish per barrel, gold traded around $902.15ish and JPY traded around 104.62ish. Nikkei futures closed at 13910 in CME last night compared to the close of 13830 here yesterday.
Kospi may start the day higher yet again today at around 233ish and may rise to get some rebound after ending the session lower yesterday. A selloff in equities was sparked yesterday as oil prices dipped sharply from record and also was pushed down by LG electronics. If investors are confident enough, the index may reach the 235ish mark again but if it can breach yesterday's intraday low at 230.75, it may continue down further towards 228ish.
Hangseng may start the day higher today at around 24300ish today and with May futures contract set to expire today, it may drive the market higher and get some rebound today. Oil producers such as CNOOC which was battered yesterday may stage a rebound today and investors may start buying into banks again today. Hangseng may find its strong resistance at around 24500 and if it should fall below the 24100 mark, it may find a strong support at 24000 today.
Rabu, 28 Mei 2008
Asian market preview 28/05/2008
US markets closed higher after a session of nervous trading around the markets. Investors were provided with better-than-expected new home sales data and that boost stocks a bit. A drop in oil prices also helped to push stocks higher around the markets. However, with lots of uncertainties still linger in the air, investors seems to be reluctant to put in big bets into the markets and prefer to wait and see for more cues about the economic condition with more data due out later on this week. Home prices dropped to a 14-year low but new home sales were up 3.3% from last month which gives a little bit good sign for investors. Technology shares got a boost after analysts encourage to buy into the sector and homebuilders also get a boost with the new home sales data. In other news, consumer confidence dropped to its lowest level since October 1992. The Dow ended up by 68.72 pts or 0.55% to 12548.35, S&P500 rose 9.42 pts or 0.68% to 1385.35 while Nasdaq rose 36.57 pts or 1.5% to 2481.24.
Asian markets may open higher today following the mild gains on Wall St overnight. The drop in oil prices to below $130 per barrel may help stocks which rely on oil and may boost the overall market. However, with Wall St only gained mildly, investors may also want to be cautious ahead of more economic data to come out of the US and may cause volatile trading in the markets around the region. Oil was recently traded around $128.44ish per barrel, gold traded around $905.75ish and JPY traded around 104.22. Nikkei futures was closed at 13965 in CME compared to the close of 13885 here yesterday.
Kospi may open higher today around 236-237ish and may extend its rally from yesterday following a better-than-expected US new home sales data. However, with more economic data due out later on in the week, investors may not put in too much money into the market and after yesterday's big gain, there's also a slight chance that investors may want to sit out on the sidelines. Trading maybe volatile with tech sector may play a big part to boost the market today. With oil dropped below $130 per barrel, consumer may become slightly a bit more optimistic.
Hangseng may open around 24300ish today following regional for higher open today after US perform mildly better last night. With oil dropped to below $130 per barrel, oil refiners such as Sinopec and PetroChina may get a boost today but CNOOC may be sluggish. Chinese mainland market may yet again play a significant role in determining how the market will end today. Trading maybe volatile and Hangseng may test the 24500 mark today and may find its strong resistance at 24000.
Asian markets may open higher today following the mild gains on Wall St overnight. The drop in oil prices to below $130 per barrel may help stocks which rely on oil and may boost the overall market. However, with Wall St only gained mildly, investors may also want to be cautious ahead of more economic data to come out of the US and may cause volatile trading in the markets around the region. Oil was recently traded around $128.44ish per barrel, gold traded around $905.75ish and JPY traded around 104.22. Nikkei futures was closed at 13965 in CME compared to the close of 13885 here yesterday.
Kospi may open higher today around 236-237ish and may extend its rally from yesterday following a better-than-expected US new home sales data. However, with more economic data due out later on in the week, investors may not put in too much money into the market and after yesterday's big gain, there's also a slight chance that investors may want to sit out on the sidelines. Trading maybe volatile with tech sector may play a big part to boost the market today. With oil dropped below $130 per barrel, consumer may become slightly a bit more optimistic.
Hangseng may open around 24300ish today following regional for higher open today after US perform mildly better last night. With oil dropped to below $130 per barrel, oil refiners such as Sinopec and PetroChina may get a boost today but CNOOC may be sluggish. Chinese mainland market may yet again play a significant role in determining how the market will end today. Trading maybe volatile and Hangseng may test the 24500 mark today and may find its strong resistance at 24000.
Selasa, 27 Mei 2008
Asian market preview 27/05/2008
US markets were closed for Memorial Day holiday last night and therefore, there's no action and cues for Asian markets to follow in today's starting trade.
Asian markets may open rather flat today following the markets' close over in the US last night. The only thing that's going to be a burden today maybe the high oil prices but I think, Asian markets may have a rebound today after falling for the past 5 sessions. Trading volumes in most markets maybe small as there's lacking news to drive the markets. Oil was recently traded around $132.90ish per barrel, gold traded around $927.60ish and JPY traded around 103.40ish. Nikkei futures was closed at 13730 here yesterday.
Kospi may open flat today around 231-232ish and may have a rebound during the day on bargain hunting. It may try and go towards 234 but I think it may not close that high as there are not enough news to drive the overall market. Oil may still play a big part in the market but I think the current market price have already priced in for the current oil price and investors may start to buy more stocks today.
Hangseng may open around 24200-24300 today and may have a rebound after a series of consecutive drops for the past 5 sessions. China mainland market may play a significant part in driving the market today whether to have a rebound or may even go back down. Hangseng may find its strong support at 24000 and may find its first resistance at 24400. Bargain hunters may find a big part too in driving the market today.
Asian markets may open rather flat today following the markets' close over in the US last night. The only thing that's going to be a burden today maybe the high oil prices but I think, Asian markets may have a rebound today after falling for the past 5 sessions. Trading volumes in most markets maybe small as there's lacking news to drive the markets. Oil was recently traded around $132.90ish per barrel, gold traded around $927.60ish and JPY traded around 103.40ish. Nikkei futures was closed at 13730 here yesterday.
Kospi may open flat today around 231-232ish and may have a rebound during the day on bargain hunting. It may try and go towards 234 but I think it may not close that high as there are not enough news to drive the overall market. Oil may still play a big part in the market but I think the current market price have already priced in for the current oil price and investors may start to buy more stocks today.
Hangseng may open around 24200-24300 today and may have a rebound after a series of consecutive drops for the past 5 sessions. China mainland market may play a significant part in driving the market today whether to have a rebound or may even go back down. Hangseng may find its strong support at 24000 and may find its first resistance at 24400. Bargain hunters may find a big part too in driving the market today.
Senin, 26 Mei 2008
Asian market preview 26/05/2008
US markets tumbled again on Friday to finish the week lower by at least 3% for each of the major indices. The main concern posted by investors is the ever rising oil prices which may affect consumer spending in upcoming days and months. As the summer holidays kick in, people are expected to drive more and therefore they need more gasoline to fuel their vehicles. Housing also posted a concern after sales of previously owned homes matched an all time low in April. Analysts start to think that the recent 2 months of gains from markets' lowest point may have come a little bit premature and that now, investors are starting to realize that the economy recovery is not as easy as it seems. With high oil prices as the main concern, The Fed may not cut anymore rates in the coming months and some investors have started expecting that The Fed will raise rates in October. The Dow finished Friday's session lower by 145.99 pts or 1.16% to 12479.63 and it declined 3.91% for the week. S&P500 fell 18.42 pts or 1.32% to 1375.93 and declined 3.47% for the week. Nasdaq fell 19.91 pts or 0.81% to 2444.67 and declined 3.33% for the week.
Asian markets may start the day lower today following the weak close on Wall St on Friday and also the high oil price may posted more concerns for the inflationary state of the countries in the region. WIth the US long weekend, trading volume may be expected to be thin today as investors may want to stay on the sidelines amid the uncertainties of the global economy. Oil was settled at $132.19 per barrel on Friday and was recently traded around $131.67ish per barrrel, gold traded around $923.10ish and JPY traded around 103.40ish. Nikkei futures closed at 13860 in CME compared to the close of 13940 here on Friday.
Kospi may start the day lower again today following the decline on Friday and also the decline in Wall St due to inflation concerns. It may open around 233ish and may go as low as 231ish today if the negative sentiment pushed investors to sell and investors think that the recent 2 months gains is over. However, with finance companies keep buy rating for Kospi, the downside maybe limited and that utilities and tech sector may help support the market.
Hangseng may start the day lower following regional and US cues on Friday. It may open around 24400ish and may even go towards 24000ish if consumer sentiment remains weak. Chinese mainland markets may still have a significant impact on Hangseng and it seems that the quake in Sichuan is far from finishsed and may have more negative impact on the market. For futures market, the strong support is at 24000 and if the market decided to recover, it may find its first resistance at 24800 today.
Asian markets may start the day lower today following the weak close on Wall St on Friday and also the high oil price may posted more concerns for the inflationary state of the countries in the region. WIth the US long weekend, trading volume may be expected to be thin today as investors may want to stay on the sidelines amid the uncertainties of the global economy. Oil was settled at $132.19 per barrel on Friday and was recently traded around $131.67ish per barrrel, gold traded around $923.10ish and JPY traded around 103.40ish. Nikkei futures closed at 13860 in CME compared to the close of 13940 here on Friday.
Kospi may start the day lower again today following the decline on Friday and also the decline in Wall St due to inflation concerns. It may open around 233ish and may go as low as 231ish today if the negative sentiment pushed investors to sell and investors think that the recent 2 months gains is over. However, with finance companies keep buy rating for Kospi, the downside maybe limited and that utilities and tech sector may help support the market.
Hangseng may start the day lower following regional and US cues on Friday. It may open around 24400ish and may even go towards 24000ish if consumer sentiment remains weak. Chinese mainland markets may still have a significant impact on Hangseng and it seems that the quake in Sichuan is far from finishsed and may have more negative impact on the market. For futures market, the strong support is at 24000 and if the market decided to recover, it may find its first resistance at 24800 today.
Jumat, 23 Mei 2008
Asian market preview 23/05/2008
US markets posted a modest increase last night after oil drops more than $2 though it rose to slightly above $135 per barrel. The drop in jobless claims also boosted the overall market. Jobless claims drop 9000 to 365000 compared to an estimated increase by analysts. It showed that companies are doing the right thing to help the economy where they're cutting back hiring instead of firing more existing employees. Almost all industries rose in the market and even the financial sector also rallied last night. Utilities rose as more investors turn to this sector as defensive measures in these uncertain times. The Dow increase by 24.43 pts or 0.19% to 12625.62, S&P500 rose 3.64 pts or 0.26% to 1394.35 while Nasdaq rose 16.31 pts or 0.67% to 2464.58.
Asian markets may open higher today following US cues and after having a mixed session yesterday. The drop in oil prices may show that the recent rally is quite unjustified and it may give some assurance to investors that the current economic condition may get better later this year. Crude oil was recently traded around $130.93ish per barrel, gold traded around $919.90ish and JPY traded around 104ish. Nikkei futures was closed at 14020 in CME last night compared to the close of 13965 here yesterday.
Kospi may open around 236-237 today with a slight upward bias. It may go up towards 239ish as the first resistance and tech sector may give support to the market. With the first decline in oil after a few days of rally, foreign investors may start buying again and bargain hunters may kick in as the index have fallen more than 2% this week. However, limited upside may still remains as there are still more uncertainties in the market.
Hangseng may open slightly higher around 25000 today following US cues last night. China market may play a significant part to determine whether Hangseng will recoup its losses or whether it will have another rough day of ups and downs again today. Bargain hunters may kick in and start buying stocks to get the market well above the psychological 25000 level again. Hangseng may find 25200 as its first resistance and may find support around 24700 today. The futures market was at a 100 pts discount to the cash market at the close yesterday.
Asian markets may open higher today following US cues and after having a mixed session yesterday. The drop in oil prices may show that the recent rally is quite unjustified and it may give some assurance to investors that the current economic condition may get better later this year. Crude oil was recently traded around $130.93ish per barrel, gold traded around $919.90ish and JPY traded around 104ish. Nikkei futures was closed at 14020 in CME last night compared to the close of 13965 here yesterday.
Kospi may open around 236-237 today with a slight upward bias. It may go up towards 239ish as the first resistance and tech sector may give support to the market. With the first decline in oil after a few days of rally, foreign investors may start buying again and bargain hunters may kick in as the index have fallen more than 2% this week. However, limited upside may still remains as there are still more uncertainties in the market.
Hangseng may open slightly higher around 25000 today following US cues last night. China market may play a significant part to determine whether Hangseng will recoup its losses or whether it will have another rough day of ups and downs again today. Bargain hunters may kick in and start buying stocks to get the market well above the psychological 25000 level again. Hangseng may find 25200 as its first resistance and may find support around 24700 today. The futures market was at a 100 pts discount to the cash market at the close yesterday.
Kamis, 22 Mei 2008
Asian market preview 22/05/2008
US markets plunged and extended its decline from the previous day last night after oil soared past $134 per barrel in intraday trading overnight and after The Fed's minute of last month meeting. The Fed expected sharply lower economic growth and higher unemployment later this year, furthermore The Fed may not cut rate anymore as inflationary risks are growing as oil keep rising. The record oil price may hurt companies' earnings as investors feared and may increase prices for other commodities. Strong oil demand from China, an unexpected drop in US and supply disruption from Nigeria caused oil to spike more than $4. All sectors were in the red in the US markets and among the worst performers are airlines companies and retailers. The Dow finished lower by 227.49 pts or 1.77% to 12601.19, S&P500 tumbled 22.69 pts or 1.61% to 1390.71 while Nasdaq fell 43.99 pts or 1.77% to 2456.09.
Asian markets may open lower today following the sharp declines in the US overnight. High oil prices may hurt markets even more as high inflation is haunting Asian countries. High oil means high food prices and that consumers may curb spending further to anticipate the surging fuel and food costs. Energy producer sector may get a boost today with record oil prices and alternative energy may also get a boost. Oil was recently traded around $133.90ish per barrel, gold traded around $931.75ish and JPY traded around 103. Nikkei futures was closed at 13770 compared to the close of 13920 here yesterday.
Kospi may start the day lower again at around 235ish today and may fall further to find support at 233ish. However, recent sharp pullbacks in Kospi may encourage bargain hunters to go into stocks and may limit the loss in Kospi. As many analysts said, Kospi market is currently overweight and are still bullish for the rest of the year.
Hangseng may open lower today at around 25100-25200 today after recovering from losses at 2nd half of trading yesterday. Hangseng may be pressurised as high oil prices may lead to higher inflation in the country. However, China market may still be the driving factor like yesterday as China market recover late yesterday, the Hangseng market also follow suit and make a sharp recovery. Hangseng may find a strong support at 24800 today and may find resistance at around 25600.
Asian markets may open lower today following the sharp declines in the US overnight. High oil prices may hurt markets even more as high inflation is haunting Asian countries. High oil means high food prices and that consumers may curb spending further to anticipate the surging fuel and food costs. Energy producer sector may get a boost today with record oil prices and alternative energy may also get a boost. Oil was recently traded around $133.90ish per barrel, gold traded around $931.75ish and JPY traded around 103. Nikkei futures was closed at 13770 compared to the close of 13920 here yesterday.
Kospi may start the day lower again at around 235ish today and may fall further to find support at 233ish. However, recent sharp pullbacks in Kospi may encourage bargain hunters to go into stocks and may limit the loss in Kospi. As many analysts said, Kospi market is currently overweight and are still bullish for the rest of the year.
Hangseng may open lower today at around 25100-25200 today after recovering from losses at 2nd half of trading yesterday. Hangseng may be pressurised as high oil prices may lead to higher inflation in the country. However, China market may still be the driving factor like yesterday as China market recover late yesterday, the Hangseng market also follow suit and make a sharp recovery. Hangseng may find a strong support at 24800 today and may find resistance at around 25600.
Rabu, 21 Mei 2008
Asian market preview 21/05/2008
US markets tumbled overnight with the rising oil prices sparked more inflation worries as oil surged beyond $129 per barrel last night. Investors are turning their attention to oil and posted concerns about how the rising energy prices will affect the recovering of the economy. OPEC said that they won't increase output and it sparked the oil price rally as investors think that supply won't meet demand. The PPI data also didn't help investors as it showed that inflation is rising more than analysts' estimate. Wholesale inflation rose 0.2% and excluding food and energy, it rose 0.4%. Banking stocks also fell last night after analyst Meredith Whitney said she expects the credit crisis to extend into 2009 and that banks may have another $170 billion in writedowns of their assets. The benefiting sector in this situation is again oil producers such as Exxon, Chevron and ConocoPhilips. Another negative news also come from The Fed where they're watching inflation now and indicated that they're most likely to keep rates steady for now. The Dow ended down by 199.48 pts or 1.53% to 12828.68, S&P500 fell 13.23 pts or 0.93% to 1413.40 and Nasdaq fell 23.83 pts or 0.95% to 2492.26.
Asian markets may open lower today and may extend yesterday losses for major markets. High oil price and other commodity prices may spur inflation concerns and these seem to be the main issues for now. Dollar weakness against major currencies such as JPY may also drag exporter stocks down today. I think there may be quite a major correction happened today after markets recovered from its lowest points in mid-March. Oil was recently traded around $128.86ish per barrel, gold traded around $920ish and JPY traded around 103.66ish. Nikkei futures was closed at 14020 in CME compared to the close of 14130 here yesterday.
Kospi may open lower between 239-240 today after edging down yesterday. It may extend losses as investors may want to lock in profits as market tumble. High oil prices won't help the market as South Korea is one of the biggest oil importer. Banking and financials may also take a hit after more credit concerns sparked out of the US. Kospi may fall towards 234ish as its strong support point but may rise up towards 242ish as its first resistance.
Hangseng may open lower today and may extend losses after tumbling yesterday. It may open around 24900ish and may fall more towards 24700 as its first major support point. China mainland markets may also affect the Hangseng market as investors may want to see the real impact of the earthquake. High crude prices may hurt oil refiners as it cut into their profit margins. If Hangseng able to breach the 24700 mark, it may fall towards 24500. If Hangseng able to recover, the 25000 may become its first resistance today. We're talking about the Hangseng futures here and the money market were about 70ish pts more than the futures market.
Asian markets may open lower today and may extend yesterday losses for major markets. High oil price and other commodity prices may spur inflation concerns and these seem to be the main issues for now. Dollar weakness against major currencies such as JPY may also drag exporter stocks down today. I think there may be quite a major correction happened today after markets recovered from its lowest points in mid-March. Oil was recently traded around $128.86ish per barrel, gold traded around $920ish and JPY traded around 103.66ish. Nikkei futures was closed at 14020 in CME compared to the close of 14130 here yesterday.
Kospi may open lower between 239-240 today after edging down yesterday. It may extend losses as investors may want to lock in profits as market tumble. High oil prices won't help the market as South Korea is one of the biggest oil importer. Banking and financials may also take a hit after more credit concerns sparked out of the US. Kospi may fall towards 234ish as its strong support point but may rise up towards 242ish as its first resistance.
Hangseng may open lower today and may extend losses after tumbling yesterday. It may open around 24900ish and may fall more towards 24700 as its first major support point. China mainland markets may also affect the Hangseng market as investors may want to see the real impact of the earthquake. High crude prices may hurt oil refiners as it cut into their profit margins. If Hangseng able to breach the 24700 mark, it may fall towards 24500. If Hangseng able to recover, the 25000 may become its first resistance today. We're talking about the Hangseng futures here and the money market were about 70ish pts more than the futures market.
Selasa, 20 Mei 2008
Asian market preview 20/05/2008
US markets ended the session mixed last night after a pullback in tech sector erased most of the day's gains. SanDisk caused the tech sector to soften last night after saying that the rising energy prices hurt sales as people curbed their spending to pay more for oil. Financial sector was hurt too after Citigroup reduced earnings estimates on Wall St biggest firms such as Goldman Sachs, Morgan Stanley and Lehman Bros. The sector which gets a boost last night with record breaking oil prices is oil players such as Exxon and Chevron which climbed almost 2%. Positive news came from Conference Board's leading economic indicator which climbed 0.1% in April, following the similar rise in March. Investors are relieved and believe more that the economy is bound for a rebound in second half of the year. Dow finished up by 41.36 pts or 0.32% to 13028.16 after rising more than 150 pts during the day. S&P500 climbed 1.28 pts or 0.09% to 1426.63 while Nasdaq fell 12.76 pts or 0.5% to 2516.09.
Asian markets may open around yesterday's close today after a mixed session on Wall St last night. High crude oil price may not bring much joy to the markets today as it sparked more inflationary problems. Tech sector may be lower today after more worries came out from the US regarding the damage made by high energy and commodity prices. Oil was recently traded around $127.25ish per barrel, gold traded around $905.50ish and JPY traded around 104.30ish. Nikkei futures was closed at 14300 in CME last night compared to the close of 14255 here yesterday.
Kospi may open slightly higher today around 243-244ish but the gains may not last very long today. Kospi needed fresh and strong market moving news to get past the 247 level to get towards 250. Today however, may be another mixed session with high oil prices weighing down the market. Tech sector may also be dragged after SanDisk reported bad sales in April. Market may face lots of profit taking issues if it come towards 246ish level.
Hangseng may open rather flat with a slight upwards bias around 25700 today. However, high oil prices may eat away the uptrend today and may make investors enjoy some profit after Hangseng index market recover towards 25800 level. Hangseng may still turn to China markets today and market volume may still be quite thin as there are lacking fresh new leads to push market higher towards the 26000 level. For futures market, it may face lots of selling pressure when it comes towards 25800 level but it will face a strong support down at 25500 level.
Asian markets may open around yesterday's close today after a mixed session on Wall St last night. High crude oil price may not bring much joy to the markets today as it sparked more inflationary problems. Tech sector may be lower today after more worries came out from the US regarding the damage made by high energy and commodity prices. Oil was recently traded around $127.25ish per barrel, gold traded around $905.50ish and JPY traded around 104.30ish. Nikkei futures was closed at 14300 in CME last night compared to the close of 14255 here yesterday.
Kospi may open slightly higher today around 243-244ish but the gains may not last very long today. Kospi needed fresh and strong market moving news to get past the 247 level to get towards 250. Today however, may be another mixed session with high oil prices weighing down the market. Tech sector may also be dragged after SanDisk reported bad sales in April. Market may face lots of profit taking issues if it come towards 246ish level.
Hangseng may open rather flat with a slight upwards bias around 25700 today. However, high oil prices may eat away the uptrend today and may make investors enjoy some profit after Hangseng index market recover towards 25800 level. Hangseng may still turn to China markets today and market volume may still be quite thin as there are lacking fresh new leads to push market higher towards the 26000 level. For futures market, it may face lots of selling pressure when it comes towards 25800 level but it will face a strong support down at 25500 level.
Senin, 19 Mei 2008
Asian market preview 19/05/2008
US markets were closed mixed on Friday as investors were worried with the surging energy prices that overshadowed the surprise increase in home construction. Investors were cheered when commerce dept's report that home construction jumped 8.2% in April but were sidetracked as energy and food prices keep climbing up which in their opinion will affect consumer spending. Oil reached its highest yet again at $127.82 per barrel and it's weighing on the mood of consumers. The Michigan consumer sentiment reading fell to 59.5 in May, the weakest since June 1980. Analysts said that investors are worried that the economy recovery expected in 2nd half will be derailed if energy and food prices keep climbing up. The Dow ended down 5.86 pts or 0.05% to 12986.80 and ended the week higher 1.89%.S&P500 ticked up 1.78 pts or 0.13% to 1425.35 and ended the week higher by 2.7%. Nasdaq fell 4.88 pts or 0.19% to 2528.85 and ended the week higher by 3.41%. Gold and other metal prices also rose with China Quake is still in focus while Dollar fell against major currencies.
Asian markets may open quite flat today and most markets may trade in narrow range today as there are lack of market moving news from the US and China. Investors may focus on the ever rising crude price, which also affect the rise in food price and the impact it will bring to the region's inflation issues. Crude oil started Monday trade at around $126.30ish per barrel, gold traded around $903.35ish and JPY traded around 104.10ish. Nikkei futures were closed at 14310 in CME compared to the close of 14340 here on Friday.
Kospi may open rather flat around 244ish and may rise with Merril Lynch said that the stocks prices in Korea is cheap. However, with lack of fresh market moving news, the rise today maybe modest and investors may also want to take some profit should the market rise too much. High crude price may also impact the market and may drive market lower as it will affect consumer spending.
Hangseng may open quite flat tracking regional markets at around 25600ish today and any rise in the market may be led by cement and other metal producers on the wake of China quake and the need of rebuilding over in the region. Investors may turn to China market for more news regarding the quake after new tremors hit the region on Sunday and more market moving news as there are lack of fresh news which will boost the Hangseng from US. Trading range maybe thin today with 25800 seen as a near term resistance and 25400 as near term support with 25200 as a very strong support point. It'll be no surprise if investors decided to lock in profit with high crude price affecting the way investors look at the overall market and inflation issues.
Asian markets may open quite flat today and most markets may trade in narrow range today as there are lack of market moving news from the US and China. Investors may focus on the ever rising crude price, which also affect the rise in food price and the impact it will bring to the region's inflation issues. Crude oil started Monday trade at around $126.30ish per barrel, gold traded around $903.35ish and JPY traded around 104.10ish. Nikkei futures were closed at 14310 in CME compared to the close of 14340 here on Friday.
Kospi may open rather flat around 244ish and may rise with Merril Lynch said that the stocks prices in Korea is cheap. However, with lack of fresh market moving news, the rise today maybe modest and investors may also want to take some profit should the market rise too much. High crude price may also impact the market and may drive market lower as it will affect consumer spending.
Hangseng may open quite flat tracking regional markets at around 25600ish today and any rise in the market may be led by cement and other metal producers on the wake of China quake and the need of rebuilding over in the region. Investors may turn to China market for more news regarding the quake after new tremors hit the region on Sunday and more market moving news as there are lack of fresh news which will boost the Hangseng from US. Trading range maybe thin today with 25800 seen as a near term resistance and 25400 as near term support with 25200 as a very strong support point. It'll be no surprise if investors decided to lock in profit with high crude price affecting the way investors look at the overall market and inflation issues.
Jumat, 16 Mei 2008
Asian market preview 16/05/2008
US markets closed higher last night as chipmakers boost markets after analysts said that chipmakers will benefit from rising global demand and also said that energy shares are cheap compared to crude prices. Markets also rose after crude prices drop again today easing inflationary concern. Positive news came from all directions as Philly Fed said that regional manufacturing activity is contracting at a slower pace in May compared to April. Deals are also being made for GE and CBS and this showed that companies are able to make strategic purchases and sales. Tech sector got a boost from Intel, rising 4.7% after Lehman Bros analyst lifted its price target, citing strong product demand. There are some worrisome news too as nationwide industrial output sank again in April by 0.7% due to cutbacks in automotive and other manufacturing industries. The Labor Department also said that the number of jobless claims rose last week by 6000 to 371k, suggesting that the labor market remains weak but still within analysts' estimates. The Dow ended up by 94.28 pts or 0.73% to 12992.66, S&P500 rose 14.91 pts or 1.06% to 1423.57 while Nasdaq rose 37.03 pts or 1.48% to 2533.73.
Asian markets may open stronger again today following more positive news and outlook from the US and after oil prices went lower last night. The economic news from the US suggesting that they're on the process of skirting recession. Oil was recently traded around $124.30ish per barrel, gold traded around $881.70ish and JPY traded around 104.86ish. Nikkei futures settled at 14340 in CME last night compared to the close of 14290 here yesterday.
Kospi may open higher and may extend yesterday's 2% rally today following more good news from the US and boost from the tech and chipmaker sectors. If more positive news to come out of South Korea, Kospi may try to go towards the 250 level today. However, as today is a Friday, investors may want to lock in recent profit as Kospi has recently gain quite a lot. Volatility may be high and Kospi may range between 242ish-247ish.
Hangseng may open higher again today following the gains in the US and also regional market strength. Hangseng have been doing V-shaped movement for the past 2 days, being down in the morning and recover in 2nd session. Hangseng may open up around 25600ish and may go towards 25800ish. If Hangseng can breach 25850, it may go towards 26000 today. However, profit taking may yet again dominate the market today as investors may also still be looking to China markets for news and the impact of the giant quake that shook China on Monday. If Hangseng fall again, 25000 should hold a strong support point.
Asian markets may open stronger again today following more positive news and outlook from the US and after oil prices went lower last night. The economic news from the US suggesting that they're on the process of skirting recession. Oil was recently traded around $124.30ish per barrel, gold traded around $881.70ish and JPY traded around 104.86ish. Nikkei futures settled at 14340 in CME last night compared to the close of 14290 here yesterday.
Kospi may open higher and may extend yesterday's 2% rally today following more good news from the US and boost from the tech and chipmaker sectors. If more positive news to come out of South Korea, Kospi may try to go towards the 250 level today. However, as today is a Friday, investors may want to lock in recent profit as Kospi has recently gain quite a lot. Volatility may be high and Kospi may range between 242ish-247ish.
Hangseng may open higher again today following the gains in the US and also regional market strength. Hangseng have been doing V-shaped movement for the past 2 days, being down in the morning and recover in 2nd session. Hangseng may open up around 25600ish and may go towards 25800ish. If Hangseng can breach 25850, it may go towards 26000 today. However, profit taking may yet again dominate the market today as investors may also still be looking to China markets for news and the impact of the giant quake that shook China on Monday. If Hangseng fall again, 25000 should hold a strong support point.
Kamis, 15 Mei 2008
Asian market preview 15/05/2008
US markets closed higher last night after a milder-than-expected US inflation data spurred a rally in the equity markets. CPI rose 0.2% in April, after rising 0.3% in the previous month. Investors interpreted this data as a good sign because The Fed will have more room to stimulate the economy. Consumer spending did not rise as much although oil and food prices climbed to its highest. Oil and gold prices also fell last night as Dollar was mixed against major currencies. Some analysts are still pessimistic about the recent gains in the equity markets, saying that recent rallies do not justify that Wall St has conquered its problems and is set for a rebound from months of turmoil because, there's still one sector that's left behind, which is financials. The Dow rose 66.20 pts or 0.51% to 12898.38, after rising more than 150 pts during the day. A late sell-off in tech sector caused market to give up some of its gains. S&P500 rose 5.62 pts or 0.40% to 1408.66 while Nasdaq rose 1.58 pts or 0.06% to 2496.70.
Asian markets may open higher today following better-than-expected US inflation data which means that The Fed still has some breathing space to stimulate the economy. Lower oil prices may also help boost the markets today and gains in Dollar may help exporters rally. Oil was recently traded around $124ish per barrel, gold traded around $864.65ish and JPY traded around 105.04ish. Nikkei futures was closed at 14240 in CME last night compared to the close of 14125 here yesterday.
Kospi may open higher today and may extend yesterday's mild gains on US inflation data. The data may give investors more confident to get back into the equity markets. Seeing how presistent the market is in recent days, it's not possible that the market may test the 242 mark today. Market volatility may be high if investors are choosing to lock in profits when they're in the money.
Hangseng may open higher today and may continue its rebound yesterday. Hangseng may open around 25600ish and may go towards 25800. If it can go beyond, it may test the 26000 level today. However, mainland China markets may come into focus too and if the investors there remain positive, it may help Hangseng to rally further. If Hangseng fall, it may go towards yesterday's low of around 25000. US inflation data and slightly lower oil prices may help boost Hangseng today but not without the fear of profit taking to be done by investors.
Asian markets may open higher today following better-than-expected US inflation data which means that The Fed still has some breathing space to stimulate the economy. Lower oil prices may also help boost the markets today and gains in Dollar may help exporters rally. Oil was recently traded around $124ish per barrel, gold traded around $864.65ish and JPY traded around 105.04ish. Nikkei futures was closed at 14240 in CME last night compared to the close of 14125 here yesterday.
Kospi may open higher today and may extend yesterday's mild gains on US inflation data. The data may give investors more confident to get back into the equity markets. Seeing how presistent the market is in recent days, it's not possible that the market may test the 242 mark today. Market volatility may be high if investors are choosing to lock in profits when they're in the money.
Hangseng may open higher today and may continue its rebound yesterday. Hangseng may open around 25600ish and may go towards 25800. If it can go beyond, it may test the 26000 level today. However, mainland China markets may come into focus too and if the investors there remain positive, it may help Hangseng to rally further. If Hangseng fall, it may go towards yesterday's low of around 25000. US inflation data and slightly lower oil prices may help boost Hangseng today but not without the fear of profit taking to be done by investors.
Rabu, 14 Mei 2008
Asian market preview 14/05/2008
US markets were closed mixed last night after a retail sales report came out as expected and as oil spiked to new intraday highs. Wal-mart beating earning forecast by 1 cent a share but its Q2 outlook made investors nervous and its shares fell by 2%. Energy producers helped rally after oil spiked to new high caused by output cut considered by Iran. Commerce Dept showed that retail sales fell by 0.2% in April, as expected. The numbers are coming out weak but it's still as expected and that the economy is not falling apart as first anticipated by analysts. Many analysts believe that investors are going to focus on the macro data and any adverse piece of news regarding credit markets. The Dow fell 44.13 pts or 0.34% to 12832.18, S&P500 fell 0.54 pts or 0.04% to 1403.04 while Nasdaq rose 6.63 pts or 0.27% to 2495.12 after Yahoo gets a proxy bid by Carl Icahn.
Asian markets may open flat but may rise following a more positive outlook for the US economy. High oil prices may boost producers and Japan's Nikkei may be boosted by the strength in Dollar. Oil was recently traded around $125.75ish per barrel, gold traded around $865.25ish and JPY traded around 104.60ish. Nikkei futures closed at 13975 in CME compared to the close of 13965 here yesterday.
Kospi may open around 238ish and may move higher again towards 240 during the day today. However, investors may also want to take quick profit with high oil prices giving them more uncertainties. Overall, market outlook still bullish and if it can breach 240 level, it may go even higher.
Hangseng may open flat around 25400ish and may continue the rally from yesterday to complete a rebound. However, index may find it hard to breach 26000 level with the lack of very strong positive data in the market. Hangseng market may turn to China for more news and updates regarding the giant quake although many believed that the impact on the economy is very limited. Hangseng may move towards 25700 and if it fell, it may hold at 25000 today.
Asian markets may open flat but may rise following a more positive outlook for the US economy. High oil prices may boost producers and Japan's Nikkei may be boosted by the strength in Dollar. Oil was recently traded around $125.75ish per barrel, gold traded around $865.25ish and JPY traded around 104.60ish. Nikkei futures closed at 13975 in CME compared to the close of 13965 here yesterday.
Kospi may open around 238ish and may move higher again towards 240 during the day today. However, investors may also want to take quick profit with high oil prices giving them more uncertainties. Overall, market outlook still bullish and if it can breach 240 level, it may go even higher.
Hangseng may open flat around 25400ish and may continue the rally from yesterday to complete a rebound. However, index may find it hard to breach 26000 level with the lack of very strong positive data in the market. Hangseng market may turn to China for more news and updates regarding the giant quake although many believed that the impact on the economy is very limited. Hangseng may move towards 25700 and if it fell, it may hold at 25000 today.
Selasa, 13 Mei 2008
Asian market preview 13/05/2008
US markets were closed higher overnight after oil dropped for the first time since May 1, retailers rallied in anticipation of better-than-expected earnings and financial shares climbed after MBIA, the world's largest bond insurer, said it has enough cash to cover claims. Wal Mart Inc. jumped on speculation profit grew as discounts lured shoppers away from competitors. Oil price dropped after briefly touched new highest intraday at $126.40 and it eased inflation concern a little bit. Stocks were also boosted by earnings outlook at Apple Inc. and Research in Motion Ltd. as investors were betting these companies will benefit from new phones. M&A rumors and speculations boosted mining shares. Analysts believe that the subprime crisis is 75% done but recession has just started. Most of the earnings from companies showed positive signs and that may move the markets higher. The Dow finished up 130.43 pts or 1.02% to 12876.31, S&P500 rose 15.31 pts or 1.10% to 1403.58 while Nasdaq rose 42.97 pts or 1.76% to 2488.49.
Asian markets may open higher today tracking Wall St gains overnight as oil prices dropped may ease some inflation concerns around the region. However, investors may be watching closely on the development in China after a deadly quake killed over 10,000 although sources said that the impact on the economy is limited for now. Oil prices dropped last night after making $10 rally the past week. Oil was recently traded around $123.80ish per barrel, gold traded around $881.35ish and JPY traded around 103.80ish. Nikkei futures was closed at 13840 in CME compared to the close of 13785 here yesterday.
Kospi may open higher today following US strong close last night and after a holiday yesterday. It may open around 236-237ish and may go higher as the drop in oil may give some confidence back to investors. Corporate news from the country may be watched closely as investors will gauge the market and take cues from there.
Hangseng may open higher after a long weekend and also following US strong close overnight. It may open around 25000ish and may have a rebound after dropping more than 1000 points towards the end of last week. However, China quake news may be in focus and investors may watch closely on the China markets after the Chinese government released a stronger CPI data yesterday. If Hangseng can break the 25200 level, it may try to go towards 25500 and if Hangseng fell again, it may find 24700 as support.
Asian markets may open higher today tracking Wall St gains overnight as oil prices dropped may ease some inflation concerns around the region. However, investors may be watching closely on the development in China after a deadly quake killed over 10,000 although sources said that the impact on the economy is limited for now. Oil prices dropped last night after making $10 rally the past week. Oil was recently traded around $123.80ish per barrel, gold traded around $881.35ish and JPY traded around 103.80ish. Nikkei futures was closed at 13840 in CME compared to the close of 13785 here yesterday.
Kospi may open higher today following US strong close last night and after a holiday yesterday. It may open around 236-237ish and may go higher as the drop in oil may give some confidence back to investors. Corporate news from the country may be watched closely as investors will gauge the market and take cues from there.
Hangseng may open higher after a long weekend and also following US strong close overnight. It may open around 25000ish and may have a rebound after dropping more than 1000 points towards the end of last week. However, China quake news may be in focus and investors may watch closely on the China markets after the Chinese government released a stronger CPI data yesterday. If Hangseng can break the 25200 level, it may try to go towards 25500 and if Hangseng fell again, it may find 24700 as support.
Sabtu, 10 Mei 2008
Asian market preview 12/05/2008
US markets closed down on Friday following the surge in oil prices and also the bigger loss report from AIG. AIG said that they need to raise $12.5 billion to cover writedowns and there are also concerns that the commodities rally will come to an end soon. These 2 factors contribute to the decline of the markets in the US. After hours, FedEx also posted concerns on its 4Q profit outlook for 2nd time which sent its stock down 3.2%. The Dow fell 120.90 pts or 0.94% to 12745.88, S&P500 fell 9.40 pts or 0.67% to 1388.28 while Nasdaq fell 5.72 pts or 0.23% to 2445.52.
Asian markets may open lower again today following the dismal performance made by the Wall St markets on Friday. However, merkets in Asia may rise should any positive news came out of its respective countries to boost up the markets. With high oil post an inflationary concerns, upside and full market recovery is still far from complete. Oil rose to a record breaking $126ish per barrel on Friday in intraday US trading and was recently traded around $125.96ish per barrel, gold traded around $883ish per barrel and JPY traded stronger vs US$ at 102.90ish. Nikkei futures was closed at 13645 in CME compared to the close of 13540 here on Friday. Investors are nervous that the 14000 psychological level may turn into a strong upside resistance.
Kospi and Hangseng are closed for public holiday today.
Asian markets may open lower again today following the dismal performance made by the Wall St markets on Friday. However, merkets in Asia may rise should any positive news came out of its respective countries to boost up the markets. With high oil post an inflationary concerns, upside and full market recovery is still far from complete. Oil rose to a record breaking $126ish per barrel on Friday in intraday US trading and was recently traded around $125.96ish per barrel, gold traded around $883ish per barrel and JPY traded stronger vs US$ at 102.90ish. Nikkei futures was closed at 13645 in CME compared to the close of 13540 here on Friday. Investors are nervous that the 14000 psychological level may turn into a strong upside resistance.
Kospi and Hangseng are closed for public holiday today.
Jumat, 09 Mei 2008
Asian market preview 09/05/2008
US markets closed modestly higher last night, following better than expected April sales results posted by some retailers, a larger than expected drop in jobless claims and also the record run by oil. Oil companies and metal producers led the rally in the US markets as oil swept through the $124 mark per barrel and also after gold rose in the session. On earnings front, Wal-mart and News Corp. posted sales that topped analysts' estimates and that helped boost markets too. However, investors started to sell financials again for 2nd day, and after AIG reported another big loss in after-hours, investors may start to worry again for the financial sector as the credit crisis seems far from over although the recovery progress is on the way. The Dow rose 52.43 pts or 0.41% to 12866.78, S&P500 rose 5.11 pts or 0.37% to 1397.68 while Nasdaq rose 12.75 pts or 0.52% to 2451.24.
Asian markets may open higher today following yesterday's correction and also after the US markets closed higher last night. Commodity producers may lead the market again today after oil had another record run and also after gold price rose last night in the US trading session. However, I think market may go into more profit taking mode late in the session going into the weekend, if oil continue to rise, it will spark more inflation concerns around the region. Oil was recently traded around $124.16ish per barrel, gold traded around $882.85ish and JPY traded around 103.85ish. Nikkei futures was closed at 13960 in CME overnight compared to the close of 13930 here yesterday.
Kospi may start the day between 239-240ish today and may gain modestly. However, Kospi may extend yesterday's losses with some chipmakers and tech sector weighing down the market after Nvidia posted losses in the US. Commodities producers may lead the market with record oil prices and higher gold price. Profit taking may be in session though ahead of the long weekend in South Korea.
Hangseng may start the day around 25300ish today and may recover some of its losses for the past 2 sessions today. However, gains may be limited with high oil prices still weighing down on the market. China PPI also due out today and that may give us some clues on how the inflation in China will be affecting the market. Analysts have predicted smaller inflation in April but with oil prices keep going higher and food prices keep rising, it will be hard to tame inflation. Hangseng may rise up to 25500ish and if it should fall, 25000 is a strong support point. If it breach that, it may go down towards 24700. Profit taking may take place again ahead of the long weekend in Hong Kong.
Asian markets may open higher today following yesterday's correction and also after the US markets closed higher last night. Commodity producers may lead the market again today after oil had another record run and also after gold price rose last night in the US trading session. However, I think market may go into more profit taking mode late in the session going into the weekend, if oil continue to rise, it will spark more inflation concerns around the region. Oil was recently traded around $124.16ish per barrel, gold traded around $882.85ish and JPY traded around 103.85ish. Nikkei futures was closed at 13960 in CME overnight compared to the close of 13930 here yesterday.
Kospi may start the day between 239-240ish today and may gain modestly. However, Kospi may extend yesterday's losses with some chipmakers and tech sector weighing down the market after Nvidia posted losses in the US. Commodities producers may lead the market with record oil prices and higher gold price. Profit taking may be in session though ahead of the long weekend in South Korea.
Hangseng may start the day around 25300ish today and may recover some of its losses for the past 2 sessions today. However, gains may be limited with high oil prices still weighing down on the market. China PPI also due out today and that may give us some clues on how the inflation in China will be affecting the market. Analysts have predicted smaller inflation in April but with oil prices keep going higher and food prices keep rising, it will be hard to tame inflation. Hangseng may rise up to 25500ish and if it should fall, 25000 is a strong support point. If it breach that, it may go down towards 24700. Profit taking may take place again ahead of the long weekend in Hong Kong.
Rabu, 07 Mei 2008
Asian market preview 07/05/2008
US markets were closed higher overnight despite of oil reaching record price yet again. Investors believe that the economy is on its way of recovering and that the financial sector have already bottomed out. Investors have already expected financial and housing earnings to be sluggish this quarter and for them, earnings outside those sectors are the main focus. In recent weeks, earnings besides financial and housing sectors have shown that the economy is doing quite well withstanding the decline caused by the credit and housing markets. The only main concern now is the ever rising oil price, which already struck the highest intraday close to $123 per barrel. The Dow closed higher by 51.29 pts or 0.40% to 13020.83, S&P500 rose 10.77 pts or 0.77% to 1418.26 while Nasdaq climbed 19.19 pts or 0.78% to 2483.31.
Asian markets may open higher again today following the strong US close last night caused by more investors' confidence which keep on pouring into the market. Oil players maybe the main driving factor for the market while oil refiners may drop further as oil rose to record close of $121.84 per barrel on Nymex. Recently, oil traded at $121.70ish per barrel, gold traded around $875.85ish and JPY traded around 104.66. Nikkei futures closed at 14200 in CME compared to the close of 14110 here last Friday. Nikkei are set to open today after closing for 2-day public hoilidays.
Kospi may open higher and may continue the rally from yesterday as new found optimism in the US may drive the market higher yet again today. Kospi may test out the 243ish level today should investors want to bet into the recovering economy. Tech sector may drive the market today as Cisco reported good earnings. Oil refiners may drag the market but overall, market seems to be quite strong.
Hangseng may open higher and may continue the rally from yesterday. It may open around 26300 and may go up further towards 26500 if the market is strong enough. China mainland market may be in focus again today as GDP number is almost out in China and that the fear of more tightening measure may come back. Oil refiners such as Sinopec and China Petroleum may drag the market today and profit taking may happen around when the market have risen too much today. Should Hangseng fall, it may find support at 26000.
Asian markets may open higher again today following the strong US close last night caused by more investors' confidence which keep on pouring into the market. Oil players maybe the main driving factor for the market while oil refiners may drop further as oil rose to record close of $121.84 per barrel on Nymex. Recently, oil traded at $121.70ish per barrel, gold traded around $875.85ish and JPY traded around 104.66. Nikkei futures closed at 14200 in CME compared to the close of 14110 here last Friday. Nikkei are set to open today after closing for 2-day public hoilidays.
Kospi may open higher and may continue the rally from yesterday as new found optimism in the US may drive the market higher yet again today. Kospi may test out the 243ish level today should investors want to bet into the recovering economy. Tech sector may drive the market today as Cisco reported good earnings. Oil refiners may drag the market but overall, market seems to be quite strong.
Hangseng may open higher and may continue the rally from yesterday. It may open around 26300 and may go up further towards 26500 if the market is strong enough. China mainland market may be in focus again today as GDP number is almost out in China and that the fear of more tightening measure may come back. Oil refiners such as Sinopec and China Petroleum may drag the market today and profit taking may happen around when the market have risen too much today. Should Hangseng fall, it may find support at 26000.
Selasa, 06 Mei 2008
Asian market preview 06/05/2008
US markets were closed lower overnight after oil price touched record high and after Microsoft walked away from Yahoo $50 billion takeover bid. Retailers went south as the fear of higher oil prices will dent consumer spending. Profit taking also dominate the market as investors want to play it safe in these times of high oil prices and consumer products and also the economic weakness. Airlines companies also face increasing problems with energy prices climbing ever higher. With oil touched its highest intraday level yet at $120.36 and gold also climbed last night following the weakness in dollar. The Dow was closed lower by 88.66 pts or 0.68% to 12969.54, S&P500 fell 6.41 pts or 0.45% to 1407.49 while Nasdaq fell 12.87 pts or 0.52% to 2464.12. However, analysts judge that these pullback is quite normal judging that the market has ran up quite a bit since touching its lowest point in March. Now, investors will be focusing on high energy prices and might be worried about inflation problem as now the earnings season is almost done. On a positive side of the news, the ISM non-manufacturing index rose in April to 52 from an expected 49.1 as analysts anticipated earlier.
Asian markets may open lower, tracking the softer close on Wall St overnight following the high energy prices sparked inflationary concern and also that it will hurt consumer spending. Nymex light sweet crude touched its highest at $120.36 and was settled at $119.97 and gold rose higher as well, recently traded around $873ish. JPY recently traded around 104.65ish and Nikkei futures was at 14165 in CME last night, compared to the close of 14110 here on Friday. Nikkei is still closed for holiday today.
Kospi opened at around 239.80 and it went down further towards 238.95 at the time of this post being made. It has ran up again and reached its peak at 240.35 and currently traded at 239.50. Kospi seems to be quite strong here resisting the downward pressure from the high oil prices and the uncertainty in the global economy.
Hangseng may start the day lower at around 25900ish today tracking the soft regional markets. It may go down further towards 25700ish if the mainland China markets decided to have a profit taking session today following the recent gains and strength in the market. Oil refiners such as Sinopec and PetroChina may be in focus today with high oil prices slashed the profit margins made by these refiners. Should Hangseng decided to go back up, it may test the 26100 level again. However, analysts believe that the index may go below 26000 as investors would want to enjoy some profit while they're in the money after a recent 2000 points rally the past 2 weeks.
Asian markets may open lower, tracking the softer close on Wall St overnight following the high energy prices sparked inflationary concern and also that it will hurt consumer spending. Nymex light sweet crude touched its highest at $120.36 and was settled at $119.97 and gold rose higher as well, recently traded around $873ish. JPY recently traded around 104.65ish and Nikkei futures was at 14165 in CME last night, compared to the close of 14110 here on Friday. Nikkei is still closed for holiday today.
Kospi opened at around 239.80 and it went down further towards 238.95 at the time of this post being made. It has ran up again and reached its peak at 240.35 and currently traded at 239.50. Kospi seems to be quite strong here resisting the downward pressure from the high oil prices and the uncertainty in the global economy.
Hangseng may start the day lower at around 25900ish today tracking the soft regional markets. It may go down further towards 25700ish if the mainland China markets decided to have a profit taking session today following the recent gains and strength in the market. Oil refiners such as Sinopec and PetroChina may be in focus today with high oil prices slashed the profit margins made by these refiners. Should Hangseng decided to go back up, it may test the 26100 level again. However, analysts believe that the index may go below 26000 as investors would want to enjoy some profit while they're in the money after a recent 2000 points rally the past 2 weeks.
Minggu, 04 Mei 2008
Asian market preview 05/05/2008
US markets closed mixed on Friday and gave up most of its early trading gains. The Dow gained more than 100 pts earlier after jobs report came out better than expected, where employers cut 20,000 jobs in April when the expected number was at 75,000 jobs cut. Unemployment rate also fell to 5% from 5.1% in the previous month. These data indicated that the economy is still contracting but at a milder pace, better than what most people had anticipated before. Durable goods and factory orders also came in better than expected; factory orders increased 1.4% compared to the expected 0.2% increase. This week economic data proved very crucial to the well-being of the US economy, with GDP number, jobs report and also durable goods and factory orders. All the numbers still indicated that the US is still in recession, but most analysts now found more confidence that the recession is at a much milder pace and believe that they can outrun it. At the end of the trading day, markets edged down and it's quite normal for investors to lock in profits ahead of the weekend after recent rallies performed by the markets. The Dow closed up 48.20 pts or 0.37% to 13058.20 and gained 1.29% for the week, S&P500 closed up 4.56 pts or 0.32% to 1413.90 and gained 1.15% for the week, while Nasdaq closed down 3.72 pts or 0.15% to 2476.99 and gained 2.23% for the week. Sun Microsystems was the biggest drag for Nasdaq, slipping $3.69 or 23% after the company stunned investors, reporting loss for third quarter.
Asian markets may open higher again today, continuing the good rally from last week following better-than-expected economic data from the US and also a decent performance by the US markets on Friday. Crude oil and gold prices also rose on Friday with crude rising $3.80 and was closed at $116.32 while gold settled at $856.35. US$ also gained strength against JPY and was settled at 105.39. Nikkei futures was closed at 14200 in CME compared to the close of 14110 here on Friday.
Nikkei and Kospi markets are closed for holiday today.
Hangseng may open higher today around 26400ish after good US economic data, signaling milder economic contraction than previously anticipated. It may go higher and if it can breach 26500 level, it may try to go towards 26700ish. China mainland markets may be in focus again during the day for HK investors to look for trading direction. If Hangseng should fall, it may go towards 26000 and if it can breach the 26000 level, it may go towards 26800. Volatility in the market may still be high with recent rally in the market, investors may find any reason for them to lock in profit.
Asian markets may open higher again today, continuing the good rally from last week following better-than-expected economic data from the US and also a decent performance by the US markets on Friday. Crude oil and gold prices also rose on Friday with crude rising $3.80 and was closed at $116.32 while gold settled at $856.35. US$ also gained strength against JPY and was settled at 105.39. Nikkei futures was closed at 14200 in CME compared to the close of 14110 here on Friday.
Nikkei and Kospi markets are closed for holiday today.
Hangseng may open higher today around 26400ish after good US economic data, signaling milder economic contraction than previously anticipated. It may go higher and if it can breach 26500 level, it may try to go towards 26700ish. China mainland markets may be in focus again during the day for HK investors to look for trading direction. If Hangseng should fall, it may go towards 26000 and if it can breach the 26000 level, it may go towards 26800. Volatility in the market may still be high with recent rally in the market, investors may find any reason for them to lock in profit.
Jumat, 02 Mei 2008
Asian market preview 02/05/2008
US markets were closed at the highest levels since January last night after better-than-expected economic data, tecnhology earnings, falling oil prices and the rally in dollar prompt investors to buy more stocks as they judge that the economy is starting to recover from its worst. Technology shares rally after better-than-expected earnings from symantec and comcast prompt investors to buy the battered tech stocks. Banks rally after The Fed's rate cut the day before also prompting investors to get their hands on the battered sector. Investors start to look away from commodities as dollar posted a big rally and closed at a 5-week high against the euro. The ISM manufacturing index came out better-than-expected and that complete the rally last night. Investors are waiting though for yet another dismal jobs report to be released later on tonight. The Dow was closed above 13000 for the first time since Jan 3, rising 189.87 pts or 1.48% at 13010. S&P500 rose 23.75 pts or 1.71% to close at 1409.34, its highest close since Jan 14. Nasdaq rallied 67.91 pts or 2.81% to close at 2480.71, its highest close since Jan 10.
Asian markets may open higher today after most markets were closed for a holiday yesterday. New found optimism from the US may be the driving factor for Asian markets and the lower oil cost may also play a part in the rally, easing inflation concern. Some Asian markets will be heading into a long weekend this week and that may limit the rise as investors may want to take some profit when the markets rise too much. Crude oil was recently traded around $112.26ish recently, gold traded around $852.30ish and JPY traded around 104.40ish. Nikkei futures closed at 14090 in CME compared to the close of 13810 here yesterday.
Kospi may open higher today at around 240ish and may even go higher boosted from chipmakers and exporters as new confidence in the US may prompt investors to buy more stocks. lower oil prices may hurt oil producers but will be an advantage to most companies such as airlines industries. The markets' gains may be limited later on in the day as Kospi will be heading into a long weekend this week. Kospi's range may be around 238-245ish.
Hangseng may shot higher at the open and may test the 26000 level today after a strong close on Wall St last night. If Hangseng managed to breach the 26000 level, it may go and rise towards 26300ish level. Rally may be supported by oil refiners as oil went down, exporters, banking and retailers. Chinese markets may also play a part in the rally if they continue on to rally again today. Should the Hangseng market fall, it may find support at 25600.
Asian markets may open higher today after most markets were closed for a holiday yesterday. New found optimism from the US may be the driving factor for Asian markets and the lower oil cost may also play a part in the rally, easing inflation concern. Some Asian markets will be heading into a long weekend this week and that may limit the rise as investors may want to take some profit when the markets rise too much. Crude oil was recently traded around $112.26ish recently, gold traded around $852.30ish and JPY traded around 104.40ish. Nikkei futures closed at 14090 in CME compared to the close of 13810 here yesterday.
Kospi may open higher today at around 240ish and may even go higher boosted from chipmakers and exporters as new confidence in the US may prompt investors to buy more stocks. lower oil prices may hurt oil producers but will be an advantage to most companies such as airlines industries. The markets' gains may be limited later on in the day as Kospi will be heading into a long weekend this week. Kospi's range may be around 238-245ish.
Hangseng may shot higher at the open and may test the 26000 level today after a strong close on Wall St last night. If Hangseng managed to breach the 26000 level, it may go and rise towards 26300ish level. Rally may be supported by oil refiners as oil went down, exporters, banking and retailers. Chinese markets may also play a part in the rally if they continue on to rally again today. Should the Hangseng market fall, it may find support at 25600.
Kamis, 01 Mei 2008
Asian market preview 01/05/2008
US markets ended the session mildly lower after soaring 178 pts for Dow Jones intraday. The better-than-expected GDP growth in Q1 sparked a strong start to the trading day and The Fed's rate cut made the markets rally. However, the comments from The Fed, stating that the economic is still weak and inflation rate is still uncertain made investors nervous towards the end of the trading session. It seems that The Fed is ready to pause on cutting rate and they said that the past few rate cuts will promote moderate growth over time. Better-than-expected earnings season have helped the markets to rebound from its lowest points this month as the Dow climbed 4.54%, S&P500 rose 4.75% and Nasdaq jumped 5.9%. Overnight, the Dow fell 11.81 pts or 0.09% to 12820.13, S&P500 fell 5.35 pts or 0.38% to 1385.59 and Nasdaq fell 13.30 pts or 0.55% to 2412.80.
Asian markets may open rather flat with some upward bias after The Fed's cut overnight as expected. However, the statement that came afterwards made investors unclear about what The Fed's going to be doing next. In one hand, the economic condition still remains weak and that there's still room for more rate cuts in the near term but on the other hand, GDP number came in better than expected and there's inflationary problem to be considered by The Fed. Crude oil was recently traded around $114.70ish per barrel, gold traded around $873ish and JPY traded at 103.90ish. Nikkei futures closed at CME at 13930 compared to the close of 13740 here yesterday.
South Korea's Kospi and Hong Kong's Hangseng markets are closed for labour day holiday today and will resume trading tomorrow.
Asian markets may open rather flat with some upward bias after The Fed's cut overnight as expected. However, the statement that came afterwards made investors unclear about what The Fed's going to be doing next. In one hand, the economic condition still remains weak and that there's still room for more rate cuts in the near term but on the other hand, GDP number came in better than expected and there's inflationary problem to be considered by The Fed. Crude oil was recently traded around $114.70ish per barrel, gold traded around $873ish and JPY traded at 103.90ish. Nikkei futures closed at CME at 13930 compared to the close of 13740 here yesterday.
South Korea's Kospi and Hong Kong's Hangseng markets are closed for labour day holiday today and will resume trading tomorrow.
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