US markets closed sharply higher last night in a volatile trade as markets did a late rally near the closing bell. The rebound in financial sector and optimism about private job sector led the rally as bank and brokerages, many trading at multiyear lows, led the late advance. There was some relief in the market after The Fed said it would extend and expand its program to lend money to investment banks which reassured the market that banks would have cash if needed. Investors have been worried that some of Wall St's biggest names may need more capital after Merril Lynch & Co. unexpectedly announced a $5.7 billion writedown on Monday. Earlier, Automatic Data Processing said private sector employment rose by 9,000 this month and that data cheered Wall St and offset a big spike in oil prices where oil rose $4.58 to settle at $126.77. The Dow ended up by 186.13 or 1.63% to 11,583.69, S&P500 rose 21.06 pts or 1.67% to 1,284.26 while Nasdaq rose 10.10 pts or 0.44% to 2,329.72.
Asian markets may open higher today and may continue yesterday's rally on optimism that US banks will have financial aid from The Fed if needed and after US markets' strong close for 2nd straight day last night. The spike in oil prices may cause markets around the region to fluctuate but overall sentiment may stay positive for the rest of the day. Dollar gained strength against major currencies and that will help exporters around the region too. Oil was recently traded around $126.74ish per barrel, gold traded around $906.30ish and JPY traded around 108.10ish. Nikkei futures was closed at 13470 in CME compared to the close of 13400 here yesterday.
Kospi may open higher today and may get stronger rally than yesterday after optimism from the US markets may help investors confidence in South Korea. The spike in oil prices may drag the market a bit but overall sentiment may stay positive after US markets closed sharply higher for 2 days in a row. Kospi may open up around 206ish and may have its resistance around 208ish and its support around 204ish.
Hangseng may open higher again today and I'll be talking about Hangseng new contract here. Since the new contract ended at 22797 yesterday, it may open up around 22900ish today and may try to breach the 23000 level today should investors get confident enough. The spike in oil may drag refiners stocks such as Sinpoec and PetroChina but may boost the biggest offshore producers CNOOC. China mainland markets may also determine the overall direction for Hangseng market today. Hangseng may find its resistance at 23200 and its support at 22700 today.
Kamis, 31 Juli 2008
Selasa, 29 Juli 2008
Asian market preview 29/07/2008
US markets were closed sharply lower last night as investors again become anxious regarding the financial sector. Financials, which had rallied in the past few weeks, suffered the same worries about souring debts and Wall St is concerned that further withering of housing and credit markets will damage banks' balance sheets. An IMF report also added some stress to the market as they predicted continuing problems in the credit and housing markets will continue to hurt the financial industry. The IMF also said that at the moment, a bottom for housing market is not visible. The closing of branches of the 1st National Bank of Nevada and First Heritage Bank N.A. by federal officials on Friday also adds worries for investors about the ability of some banks to stay afloat. Upcoming economic data that will be important to take note of are the first report on gross domestic product for Q2 to come out on Thursday which was predicted to rise. Employment report for June to come out on Friday and regarded as the most important economic readings of the month because of the insight into the well-being of the consumer. Unemployment is expected to rise too. The Dow plunged 239.61 pts or 2.11% to 11,131.08 and was back into bear market territory. S&P500 fell 23.29 pts or 1.86% to 1,234.37 while Nasdaq fell 46.31 pts or 2% to 2,264.22.
Asian markets may open lower yet again today and may slide further as more worries from the US markets may spill over and caused investors fears and run for safety. Oil prices rebounded last night and that may also adds more reasons for investors to selloff stocks. Investors are fearing that the slowdown in the US' economy and 'meltdown' for US banks may caused problems on the world scale. However, for countries like Indonesia, I think they are not too affected by the US as the market there are dominated by commodities. Oil was recently traded around $125ish per barrel, gold traded around $931.10ish and JPY traded around 107.45ish. Nikkei was closed at 13350 here yesterday.
Kospi may open lower today at around 204ish and may slide further as investors are becoming nervous regarding the well being of the global economy. In recent days, Kospi also find it hard to get momentum back to rally after the country reported higher GDP and higher inflation risk. It may go towards the 200 level today if investors are finding no reason to buy into stocks.
Hangseng may open lower today at around 22400ish and may slide further on fears that problems in the US are far from over and may spill over to the Asia region. However, with China's government showing that they will ease monetary tightening, selling pressure maybe reduced in Hong Kong and China markets may play a part to limit the downside pressure in the Hangseng market. Hangseng may find its support at 22000 today and its resistance at 22700.
Asian markets may open lower yet again today and may slide further as more worries from the US markets may spill over and caused investors fears and run for safety. Oil prices rebounded last night and that may also adds more reasons for investors to selloff stocks. Investors are fearing that the slowdown in the US' economy and 'meltdown' for US banks may caused problems on the world scale. However, for countries like Indonesia, I think they are not too affected by the US as the market there are dominated by commodities. Oil was recently traded around $125ish per barrel, gold traded around $931.10ish and JPY traded around 107.45ish. Nikkei was closed at 13350 here yesterday.
Kospi may open lower today at around 204ish and may slide further as investors are becoming nervous regarding the well being of the global economy. In recent days, Kospi also find it hard to get momentum back to rally after the country reported higher GDP and higher inflation risk. It may go towards the 200 level today if investors are finding no reason to buy into stocks.
Hangseng may open lower today at around 22400ish and may slide further on fears that problems in the US are far from over and may spill over to the Asia region. However, with China's government showing that they will ease monetary tightening, selling pressure maybe reduced in Hong Kong and China markets may play a part to limit the downside pressure in the Hangseng market. Hangseng may find its support at 22000 today and its resistance at 22700.
Senin, 28 Juli 2008
Asian market preview 28/07/2008
US markets were closed with uneven gains on Friday after better-than-expected economic data helped boosted the markets which were plummeted a day earlier by concerns about housing and financial sector. Financials continued to drift lower on Friday on worries about the health of balance sheets, while a surge in profits for Juniper Networks Inc. boosted technology stocks. Commerce Department reported that orders sent to factories for big-ticket items such as cars rose by 0.8% in June, the strongest gain in 4 months and ahead of Wall St's expectations. Commerce Department also showed that new home sales declined by smaller-than-expected 0.6%. While it marked 7th decline in the past 8 months, the reading gave some hope that the housing market could be finding a bottom. Investors sell-off stocks on Thursday on weaker reading on existing home sales. There are also good news about consumer spendings as University of Michigan index of consumer sentiment came in at 61.2 while economists forecast a reading of 56.4. And the continued decline for oil, which was settled at $123.26 also helped boost markets sentiment on Friday. The Dow rose 21.41 pts or 0.19% to 11,370.69, S&P500 rose 5.22 pts or 0.42% to 1,257.76 while Nasdaq jumped 30.42 pts or 1.33% to 2,310.53. For the week, Dow fell 1.09% and S&P500 lost 0.23% while Nasdaq was up 1.22%.
Asian markets may open higher today following better economic readings in the US on Friday and also lower oil prices may boost investors' confidence today. Markets may continue their rally from last week as investors may start buying stocks on speculation that with lower oil, companies may get better profit margins in the coming months. Oil was recently traded around $123.23 per barrel, gold traded around $928.55ish and JPY traded around 107.89ish. Nikkei futures was closed at 13460 in CME compared to the close of 13320 here on Friday.
Kospi may open higher today and may continue the rally from last week on lower oil. Kospi was closed lower on Friday on speculation that US markets may continue to be weak and investors were taking their profit off the table. However, with better-than-expected economic readings came out of the US on Friday, Kospi may continue its rally from last week. Lower oil prices may also help to boost investors' confidence today. Kospi may try to breach the 210 mark again today if investors are confident enough.
Hangseng may open higher today following better US economic data on Friday. Hangseng was closed lower on Friday after gaining more than 1,000 pts for the past week on profit taking. Today, Hangseng may continue higher and may again close above 23,000 mark. Lower oil prices may play a part in determining how well the market will perform and also China mainland markets may also help Hangseng on how well it will perform today. Hangseng may find its support at 22700 and its resistance at 23200 today.
Asian markets may open higher today following better economic readings in the US on Friday and also lower oil prices may boost investors' confidence today. Markets may continue their rally from last week as investors may start buying stocks on speculation that with lower oil, companies may get better profit margins in the coming months. Oil was recently traded around $123.23 per barrel, gold traded around $928.55ish and JPY traded around 107.89ish. Nikkei futures was closed at 13460 in CME compared to the close of 13320 here on Friday.
Kospi may open higher today and may continue the rally from last week on lower oil. Kospi was closed lower on Friday on speculation that US markets may continue to be weak and investors were taking their profit off the table. However, with better-than-expected economic readings came out of the US on Friday, Kospi may continue its rally from last week. Lower oil prices may also help to boost investors' confidence today. Kospi may try to breach the 210 mark again today if investors are confident enough.
Hangseng may open higher today following better US economic data on Friday. Hangseng was closed lower on Friday after gaining more than 1,000 pts for the past week on profit taking. Today, Hangseng may continue higher and may again close above 23,000 mark. Lower oil prices may play a part in determining how well the market will perform and also China mainland markets may also help Hangseng on how well it will perform today. Hangseng may find its support at 22700 and its resistance at 23200 today.
Jumat, 25 Juli 2008
Asian market preview 25/07/2008
US markets tumbled more than 2% overnight after sales of existing homes fell more than expected and also after jobless claims shot up beyond 400,000 last week as companies slashed employments to cope with slowing economy. Financial shares had their worst drop in 8 years as investors punished them and home builders after some disappointing government reports. The optimism built over the past few sessions on good earnings reports have faded in an instant and investors were brought back down to earth. Mixed earnings from Ford Motor and Dow Chemical, which reported weaker-than-expected earnings also soured the mood of investors. Drugmakers and Amazon Inc. however posted better results for Q2. Investors were driven by profit taking and also fears that the worst is far from over after Bill Gross predicted that housing slump will cost banks and brokerages $1 trillion and we're still less than halfway over. The Dow ended lower by 283.10 pts or 2.43% to 11,349.28, S&P500 fell 29.65 pts or 2.31% to 1,252.54 while Nasdaq fell 45.77 pts or 1.97% to 2,280.11.
Asian markets may open lower today after gaining for the past few sessions. Markets around the region may open lower and fall further after skepticism resurfaced as housing slump continues in the US. Oil also have regained ground last night, gaining almost $2 back above $125 per barrel. Profit taking may dominate asian markets today as today being a Friday and investors may want to enjoy profits. Oil was recently traded around $125.61 per barrel, gold traded around $927.55 and JPY traded around 107.40ish. Nikkei futures was closed at 13420 in CME compared to the close of 13565 here yesterday.
Kospi may open lower today following the sharp drop in US markets and may fall even further after the news regarding South Korean GDP which rose more than expected. GDP rose 0.8% vs an estimated of 0.7% rise this quarter on higher oil. High inflation fears may spark more concerns for investors and may provide more reasons to sell stocks today and reap some profits over the previous sessions of gains. Kospi may fall back towards 205 level if investors are taking this opportunity to get out of the market.
Hangseng may open lower following US cues overnight which indicated that the condition have not stabilize yet for US financials sector. Hangseng may open below 23000 and may go towards 22500 today if investors decided to enjoy profits ahead of the weekend. Over the past week, Hangseng have risen more than 1,000 points and I think it is the right time for investors to reap some profits before more bad news came out of the US. The drop in existing home sales in the US indicated that housing slump is far from over. China markets may also play a part in determining on how low will the market. Hangseng may find resistance at 23000 today and support at 22500.
Asian markets may open lower today after gaining for the past few sessions. Markets around the region may open lower and fall further after skepticism resurfaced as housing slump continues in the US. Oil also have regained ground last night, gaining almost $2 back above $125 per barrel. Profit taking may dominate asian markets today as today being a Friday and investors may want to enjoy profits. Oil was recently traded around $125.61 per barrel, gold traded around $927.55 and JPY traded around 107.40ish. Nikkei futures was closed at 13420 in CME compared to the close of 13565 here yesterday.
Kospi may open lower today following the sharp drop in US markets and may fall even further after the news regarding South Korean GDP which rose more than expected. GDP rose 0.8% vs an estimated of 0.7% rise this quarter on higher oil. High inflation fears may spark more concerns for investors and may provide more reasons to sell stocks today and reap some profits over the previous sessions of gains. Kospi may fall back towards 205 level if investors are taking this opportunity to get out of the market.
Hangseng may open lower following US cues overnight which indicated that the condition have not stabilize yet for US financials sector. Hangseng may open below 23000 and may go towards 22500 today if investors decided to enjoy profits ahead of the weekend. Over the past week, Hangseng have risen more than 1,000 points and I think it is the right time for investors to reap some profits before more bad news came out of the US. The drop in existing home sales in the US indicated that housing slump is far from over. China markets may also play a part in determining on how low will the market. Hangseng may find resistance at 23000 today and support at 22500.
Kamis, 24 Juli 2008
Asian market preview 24/07/2008
US markets were closed stronger again last night following the drop in oil to below $125 per barrel. Fannie Mae and Freddie Mac's rescue plan by the government also boosted up investors' confidence and helped the financial sector to rally further last night. Good earnings reports from AT&T and Pfizer Inc. addded more reasons for investors to buy stocks and helped make market recovery and lifted it from bear market territory. Stocks have been battered in the past few weeks, so any piece of good news will spark strong buying into that company and the whole sector. Oil prices fell 3.1% to $124.44 per barrel, dropping below $125 for the first time in six weeks, after reports saying that fuel stockpiles increased as consumption fell to the lowest in a year. Dollar rally against major currencies also pushed commodities prices lower. Investors still feared of more bad earnings to come but if oil keep sliding down further, earnings report will be secondary as investors will find more confidence with the drop in oil, earnings will improve in next quarter. The Dow rose 29.88 pts or 0.3% to 11,632.38, S&P500 rose 5.19 pts or 0.4% to 1,282.19 while Nasdaq rose 21.92 pts or 1% to 2,325.88.
Asian markets may open higher today and extend their rallies from yesterday with more positive news coming out of the US and the US markets are able to extend their rally on lower oil. More earnings optimism from the US may help extend the rally further in Asia markets too as investors might see that earnings are not as bad as what they've been anticipating in recent weeks. Oil producers may be hurting as oil prices dropped more than $20 since last week but general market sentiment may be positive with less inflationary concerns. Oil was recently traded around $124.46ish per barrel, gold traded around $920.75ish and JPY traded around 107.90ish. Nikkei futures was closed at 13500 in CME compared to the close of 13425 here yesterday.
Kospi may open higher today and may extend yesterday's rally following another steep drop in oil prices and also better-than-expected earnings season that continues in the US. Investors may gain more confidence with the overall global economy as some analysts even suggested that markets may have reached its bottom. Kospi may even try the 210 level today if investors are confident enough and may go beyond that too as stocks have been battered so bad that these times can be counted as bargain hunting session.
Hangseng may open higher at around 23400ish and may rally further if investors are confident enough to buy more into stocks as oil prices decline further. More earnings optimism from China mainland and also from Hongkong itself may help boost investors to buy more stocks. Sinopec and PetroChina may rally further while CNOOC may go down as oil prices slide to below $125 per barrel. Hangseng may find its resistance at 23700 today and its support at around 23200 region.
Asian markets may open higher today and extend their rallies from yesterday with more positive news coming out of the US and the US markets are able to extend their rally on lower oil. More earnings optimism from the US may help extend the rally further in Asia markets too as investors might see that earnings are not as bad as what they've been anticipating in recent weeks. Oil producers may be hurting as oil prices dropped more than $20 since last week but general market sentiment may be positive with less inflationary concerns. Oil was recently traded around $124.46ish per barrel, gold traded around $920.75ish and JPY traded around 107.90ish. Nikkei futures was closed at 13500 in CME compared to the close of 13425 here yesterday.
Kospi may open higher today and may extend yesterday's rally following another steep drop in oil prices and also better-than-expected earnings season that continues in the US. Investors may gain more confidence with the overall global economy as some analysts even suggested that markets may have reached its bottom. Kospi may even try the 210 level today if investors are confident enough and may go beyond that too as stocks have been battered so bad that these times can be counted as bargain hunting session.
Hangseng may open higher at around 23400ish and may rally further if investors are confident enough to buy more into stocks as oil prices decline further. More earnings optimism from China mainland and also from Hongkong itself may help boost investors to buy more stocks. Sinopec and PetroChina may rally further while CNOOC may go down as oil prices slide to below $125 per barrel. Hangseng may find its resistance at 23700 today and its support at around 23200 region.
Rabu, 23 Juli 2008
Asian market preview 23/07/2008
US markets closed sharply higher last night after oil tumbled more than $3 per barrel, bringing the decline to nearly $20 per barrel in the past week. Markets were initially in sour mood after American Express missed earnings estimate and also after Apple issued a weaker-than-expected forecast for the current quarter. However, after oil fell $3.09 to settle at $127.95 per barrel, the general markets were encouraged to rally up. Analysts are certain that many earnings report will still be bad, but if oil continue to slide down, the market in general will be boosted up and the impact of bad earnings are localized to the corresponding companies. Bargain hunting dominated the markets last night with financial sector led the way up after it had been battered for the past few weeks. Even Wachovia Corp. shot 27% higher after the stocks initially was pummeled to levels not seen in 1990s, after the company reported $8.9 billion loss because of charges and reserves for bad mortgage loans. The Dow rose 135.16 pts or 1.18% to 11,602.50, S&P500 rose 17 pts or 1.35% to 1,277.00 while Nasdaq rose 24.43 pts or 1.07% to 2,303.96. After-hours, Washington Mutual Inc. and E-Trade Financial Corp. reported losses after boosting reserves to cover bad loans.
Asian markets may open higher today following the drop in oil and rally in the US markets last night. Investors may find more optimism and more reason to buy into stock markets after oil continued its slide from last week. Investors may be hoping that with lower oil prices, companies' earnings may pick up by itself later on. Bad earnings keep coming out of the US big companies but now earnings report seem to have lost its dominance over the market in general as oil going towards $120 level. Oil was recently traded around $128.50 per barrel, gold traded around $946.45ish and JPY traded around 107.19ish. Nikkei futures was closed at 13340 in CME last night compared to the close of 13095 here yesterday.
Kospi may open higher today following the new optimism found in the US caused by oil's tumble. With US$ strengthening against major currencies, exporters may rally today along with other stocks in general and financials may lead the rally. Kospi may open around 204ish and may find its resistance at 208ish today and may find its support at 203ish. Investors may still be cautious ahead of the busy earnings week in the US as with just a piece of bad news, investors may find reasons to lock in their profit.
Hangseng may open higher at around 22700ish today following the higher close in the US markets and after oil tumbled further. Oil refiners such as Sinopec and PetroChina may be boosted with lower oil prices while CNOOC may be battered as oil prices fell sharply. Financials may be boosted again today and exporters may also rally up. Hangseng may try to get to 23000 if market sentiment remains positive for the rest of the day. China markets may also play a part in determining whether the market is strong enough to get to the 23000 level today. Hangseng may find its support at 22500ish and its resistance at 23000 today.
Asian markets may open higher today following the drop in oil and rally in the US markets last night. Investors may find more optimism and more reason to buy into stock markets after oil continued its slide from last week. Investors may be hoping that with lower oil prices, companies' earnings may pick up by itself later on. Bad earnings keep coming out of the US big companies but now earnings report seem to have lost its dominance over the market in general as oil going towards $120 level. Oil was recently traded around $128.50 per barrel, gold traded around $946.45ish and JPY traded around 107.19ish. Nikkei futures was closed at 13340 in CME last night compared to the close of 13095 here yesterday.
Kospi may open higher today following the new optimism found in the US caused by oil's tumble. With US$ strengthening against major currencies, exporters may rally today along with other stocks in general and financials may lead the rally. Kospi may open around 204ish and may find its resistance at 208ish today and may find its support at 203ish. Investors may still be cautious ahead of the busy earnings week in the US as with just a piece of bad news, investors may find reasons to lock in their profit.
Hangseng may open higher at around 22700ish today following the higher close in the US markets and after oil tumbled further. Oil refiners such as Sinopec and PetroChina may be boosted with lower oil prices while CNOOC may be battered as oil prices fell sharply. Financials may be boosted again today and exporters may also rally up. Hangseng may try to get to 23000 if market sentiment remains positive for the rest of the day. China markets may also play a part in determining whether the market is strong enough to get to the 23000 level today. Hangseng may find its support at 22500ish and its resistance at 23000 today.
Selasa, 22 Juli 2008
Asian market preview 22/07/2008
US markets ended the session down modestly after crude oil rebounded more then $2 to settle at $131.04 per barrel. The rise in oil offset the initial market enthusiasm after Bank of America reported better-than-expected results which raised hopes that the credit crisis is easing. With Bank of America's results, 4 of 5 biggest banks in the US have reported better-than-expected earnings which might show that the financial sector is recovering from the credit crisis. However, with oil back to trade above $130 per barrel, market is still nervous and investors are also uneasy with the rest of the earnings season. Oil went back above $130 per barrel after fears that the tension in Middle East might escalate and also fears that Hurricane Dolly might disrupt supplies at gulf of Mexico. The Dow ended the session down by 29.23 pts or 0.25% to 11,467.34, S&P500 slipped 0.68 pts or 0.05% to 1,260.00 while Nasdaq fell 3.25 pts or 0.14% to 2,279.53. After hours, American Express reported earnings that missed analysts' estimates and also Apple provided a weaker Q4 forecast which send Dow futures tumbling down more than 100 pts.
Asian markets today may open slightly lower on some negative impact from the rising oil again and also with some negative news after hours on Wall St. However, losses may be limited and stocks may still prove quite attractive with major banks reporting good earnings over in the US which showed that the credit crisis maybe nearing the end. Oil was recently traded around $130.50ish per barrel, gold traded around $967.50ish and JPY traded around 106.40ish. Nikkei futures closed at CME at 13140 yesterday compared to the close of 13005 here on Friday. Nikkei was closed for holiday yesterday and may try to play catch up today with the rest of Asian markets.
Kospi opened lower today at around 200.75 this morning. It then went down further towards 200.35 before it started its climb towards 202 level. It reached its highest at around 8 AM at 202.15 and it went back down towards 201ish at around 8.15 AM. Kospi's session maybe volatile for the rest of the day with tech sector may weigh after Apple released weaker guidance ahead. Although banks have reported better-than-expected earnings in the US, American Express results which missed estimates may weigh today.
Hangseng may open slightly lower today after rising so much yesterday and may ignite some profit taking in the session. However, with strong sentiment across the region and also stock prices which can still be considered as in good valuation at this level may still spark some buying interests for investors. Hangseng may find support at 22400 and resistance at 22800 today. China mainland markets may play a big part too today in determining whether the rally will continue or will profit taking prevail today.
Asian markets today may open slightly lower on some negative impact from the rising oil again and also with some negative news after hours on Wall St. However, losses may be limited and stocks may still prove quite attractive with major banks reporting good earnings over in the US which showed that the credit crisis maybe nearing the end. Oil was recently traded around $130.50ish per barrel, gold traded around $967.50ish and JPY traded around 106.40ish. Nikkei futures closed at CME at 13140 yesterday compared to the close of 13005 here on Friday. Nikkei was closed for holiday yesterday and may try to play catch up today with the rest of Asian markets.
Kospi opened lower today at around 200.75 this morning. It then went down further towards 200.35 before it started its climb towards 202 level. It reached its highest at around 8 AM at 202.15 and it went back down towards 201ish at around 8.15 AM. Kospi's session maybe volatile for the rest of the day with tech sector may weigh after Apple released weaker guidance ahead. Although banks have reported better-than-expected earnings in the US, American Express results which missed estimates may weigh today.
Hangseng may open slightly lower today after rising so much yesterday and may ignite some profit taking in the session. However, with strong sentiment across the region and also stock prices which can still be considered as in good valuation at this level may still spark some buying interests for investors. Hangseng may find support at 22400 and resistance at 22800 today. China mainland markets may play a big part too today in determining whether the rally will continue or will profit taking prevail today.
Senin, 21 Juli 2008
Asian market preview 21/07/2008
US markets ended a fabulous week mixed on Friday after disappointing results from tech giants brought investors back down to earth. Less-than-estimated loss from Citigroup Inc. pleased investors and joined Wells Fargo & Co. and JPMorgan Chase & Co. in delivering stronger results than anticipated. However, tech giants like Google, Microsoft and AMD all reported less-than expected results and that caused selloff for those companies. More earnings from banks are expected this week and that will make investors stay on edge to brace for more bad results or if this situation is turning into a positive one. Many analysts believe that the US are still far from turning around the bear market into a bull market in current conditions. The Dow rose 49.91 pts or 0.44% to 11,496.57, S&P500 rose 0.36 pts or 0.03% to 1,260.68 while Nasdaq fell 29.52 pts or 1.28% to 2,282.78.
Asian markets may have a positive start to the week today following more upbeat earnings from the US banks and that may ignite another round of buying into stocks around the region. The lower oil price where it managed to stay below $130 per barrel may also cheer investors and may help boost the stock markets further today. However, with tech giants such as Google and Microsoft reported weak earnings, that sector may drag Asian tech counterpart too. Oil was recently traded around $129.97ish, gold trade around $964.50ish and JPY traded around 106.95ish. Nikkei futures was closed at 13145 in CME compared to the close of 13005 here on Friday. Nikkei will be closed for public holiday today.
Kospi may start the day higher today following better earnings from banks in the US and lower oil prices. Tech sector may drag the market down though but the overall sentiment today may stay positive. Kospi may test the 200 mark again today but with more bank and other corporate giants earnings from the US, many investors may still choose to stay on the sidelines today. Kospi may find its resistance at 198 and 200 while its support at 194 today.
Hangseng may start the day on the positive today following the gains on Wall St and also the strength from regional markets. Lower oil prices may boost bargain hunters to hunt for stocks in current prices and more positive results from Chinese banks may boost market sentiment today. However, many investors may still be waiting on the sidelines today in anticipation of more earninngs to come out of the US this week. Hangseng may test the 22000 mark today and may well be close above that level today. It may open around 22200ish today and may find its resistance at 22400 and its support at 21800 today. Hangseng may still turn to China mainland markets for more cue and directions as to where the market want to go today.
Asian markets may have a positive start to the week today following more upbeat earnings from the US banks and that may ignite another round of buying into stocks around the region. The lower oil price where it managed to stay below $130 per barrel may also cheer investors and may help boost the stock markets further today. However, with tech giants such as Google and Microsoft reported weak earnings, that sector may drag Asian tech counterpart too. Oil was recently traded around $129.97ish, gold trade around $964.50ish and JPY traded around 106.95ish. Nikkei futures was closed at 13145 in CME compared to the close of 13005 here on Friday. Nikkei will be closed for public holiday today.
Kospi may start the day higher today following better earnings from banks in the US and lower oil prices. Tech sector may drag the market down though but the overall sentiment today may stay positive. Kospi may test the 200 mark again today but with more bank and other corporate giants earnings from the US, many investors may still choose to stay on the sidelines today. Kospi may find its resistance at 198 and 200 while its support at 194 today.
Hangseng may start the day on the positive today following the gains on Wall St and also the strength from regional markets. Lower oil prices may boost bargain hunters to hunt for stocks in current prices and more positive results from Chinese banks may boost market sentiment today. However, many investors may still be waiting on the sidelines today in anticipation of more earninngs to come out of the US this week. Hangseng may test the 22000 mark today and may well be close above that level today. It may open around 22200ish today and may find its resistance at 22400 and its support at 21800 today. Hangseng may still turn to China mainland markets for more cue and directions as to where the market want to go today.
Jumat, 18 Juli 2008
Asian market preview 18/07/2008
US markets surged for 2nd day last night as investors received double dose of good news in form of falling energy prices and good earnings report from big companies like JPMorgan Chase and United Technologies. Oil prices dropped for 3rd day in a row and was settled at $129.29, bringing the 3 day decline of more than $15 per barrel. JPMorgan Chase reported a better-than-expected earnings, although still reporting a loss in Q2 but it was better than what analysts' expected. The upbeat earnings report, the drop in oil helped the market to stage another rally and the battered financial sector was leading the way yet again. On other news, commerce dept reported construction of home and apartments rose 9.1% in June but construction for single-family home fell by 5.3% to the slowest pace in 17 years. Labor Department reported that the number of new people seeking unemployment benefits rose by 18,000 last week to 366,000 but the number was well below analysts' expectations. The Dow ended the day higher by 207.38 pts or 1.85% to 11,446.66, S&P500 rose 14.96 pts or 1.2% to 1,260.32 while Nasdaq rose 27.45 pts or 1.2% to 2,312.30. However, it seemed that the 2-day big rally maybe short-lived as Google, Merril Lynch and Microsoft reported earnings that missed analysts' forecast after hours.
Asian markets may open higher again today as oil prices tumbled for 3rd consecutive day, easing inflationary concerns. The surge in US markets may also help markets sentiment around the region today as investors may continue to collect stocks at bargain prices. However, gains around the region may be limited as fears are still there in the US' economic stability and corporate giants like Merril have started to miss earnings estimate. Oil was recently traded around $129ish per barrel, gold traded around $959ish and JPY traded around 106.20ish. Nikkei futures was closed at 13185 in CME last night compared to the close of 13015 here yesterday.
Kospi may start the day higher again today and may test the 200 mark after upbeat earnings lifted US markets overnight. With oil prices tumbled to below $130 per barrel, investors may be in buying mood again and may start collecting stocks again. However, with earnings season just started, investors may still remain cautious especially after Merril, Google and Microsoft reported earnings that missed estimates in after hours trading in the US. If Kospi is able to go beyond 200, it may test the 202ish region and may find its support at 195 today.
Hangseng may start the day higher again today after unexpected good earnings lifted the US markets yet again last night. The drop in oil prices may also helped investors' mood today. However, after-hours result which reported that Merril, Google and Microsoft missed estimates may weigh on the market today. China mainland market may also play a part after they reported slower growth but inflationary pressure is stil high. Hangseng may find its resistance at 22200 today and may find its support at around 21500 today.
Asian markets may open higher again today as oil prices tumbled for 3rd consecutive day, easing inflationary concerns. The surge in US markets may also help markets sentiment around the region today as investors may continue to collect stocks at bargain prices. However, gains around the region may be limited as fears are still there in the US' economic stability and corporate giants like Merril have started to miss earnings estimate. Oil was recently traded around $129ish per barrel, gold traded around $959ish and JPY traded around 106.20ish. Nikkei futures was closed at 13185 in CME last night compared to the close of 13015 here yesterday.
Kospi may start the day higher again today and may test the 200 mark after upbeat earnings lifted US markets overnight. With oil prices tumbled to below $130 per barrel, investors may be in buying mood again and may start collecting stocks again. However, with earnings season just started, investors may still remain cautious especially after Merril, Google and Microsoft reported earnings that missed estimates in after hours trading in the US. If Kospi is able to go beyond 200, it may test the 202ish region and may find its support at 195 today.
Hangseng may start the day higher again today after unexpected good earnings lifted the US markets yet again last night. The drop in oil prices may also helped investors' mood today. However, after-hours result which reported that Merril, Google and Microsoft missed estimates may weigh on the market today. China mainland market may also play a part after they reported slower growth but inflationary pressure is stil high. Hangseng may find its resistance at 22200 today and may find its support at around 21500 today.
Kamis, 17 Juli 2008
Asian market preview 17/07/2008
US markets soared last night posting the biggest one day gain in more than 3 months. Investors are getting into panic mode in buying stocks after Wells Fargo & Co. reported better-than-expected earnings which send the stock up by more than 30%. The upbeat earnings report helped financial sector rallied last night as investors bought into the battered sector which have posted a record decline in the past 5 days. The rally was also boosted by the drop in oil prices, which have brought the oil down more than $10 in the past 2 days. Concerns about slowing economy has brought concerns that the demand for oil maybe diminished until next year. This was shown in the data that reported the US have ample oil supplies. The only negative news came from the Labor Department which reported that consumer prices shot up in June at the second fastest pace in 26 years which should remind investors that inflation still poses a threat to economic growth. The Dow shot up 276.74 pts or 2.52% to 11239.28, S&P500 rose 30.45 pts or 2.51% to 1245.36 while Nasdaq rose 69.14 pts or 3.12% to 2284.85.
Asian markets may start the day higher today following the rally in Wall St and the significant drop in oil prices to below $135 per barrel. Markets around the region may stage a significant rally today after being badly battered for the past few weeks. Financials sector may stage a rebound after the sector rallied the most in US last night. Exporters may also get some boost as Dollar gets stronger against major currencies. Bargain hunting may dominate the markets around the region today and may help to rally further. Oil was recently traded around $135ish per barrel, gold traded around $960.40ish and JPY traded around 105.19ish. Nikkei futures was closed at 13000 in CME overnight, compared to the close of 12575 here yesterday.
Kospi may open with a gap today following a very strong US markets last night and may rally further as the drop in oil prices may help the market. Bargain hunters may kick in today and start buying into cheap stocks. However, the rally may not be sustained as there are still some nervousness around as the financials heavyweight in the US are due to report their earnings later on tonight. Kospi may find its resistance at 205 today.
Hangseng may open gap today following a very strong US close last night. Hangseng may open at around 21700ish today and may test the 22000 mark if bargain hunting really is dominating the market today. With oil prices drop more than $10 in the last 2 days, Hangseng maybe boosted. However, with more earnings to be reported from the US and also China GDP number to come out later on today, Hangseng's gain may be dependant on China mainland markets too today.
Asian markets may start the day higher today following the rally in Wall St and the significant drop in oil prices to below $135 per barrel. Markets around the region may stage a significant rally today after being badly battered for the past few weeks. Financials sector may stage a rebound after the sector rallied the most in US last night. Exporters may also get some boost as Dollar gets stronger against major currencies. Bargain hunting may dominate the markets around the region today and may help to rally further. Oil was recently traded around $135ish per barrel, gold traded around $960.40ish and JPY traded around 105.19ish. Nikkei futures was closed at 13000 in CME overnight, compared to the close of 12575 here yesterday.
Kospi may open with a gap today following a very strong US markets last night and may rally further as the drop in oil prices may help the market. Bargain hunters may kick in today and start buying into cheap stocks. However, the rally may not be sustained as there are still some nervousness around as the financials heavyweight in the US are due to report their earnings later on tonight. Kospi may find its resistance at 205 today.
Hangseng may open gap today following a very strong US close last night. Hangseng may open at around 21700ish today and may test the 22000 mark if bargain hunting really is dominating the market today. With oil prices drop more than $10 in the last 2 days, Hangseng maybe boosted. However, with more earnings to be reported from the US and also China GDP number to come out later on today, Hangseng's gain may be dependant on China mainland markets too today.
Selasa, 15 Juli 2008
Asian market preview 15/07/2008
US stocks ended down last night after surging almost 140 pts in early trade. The early rally came after The Fed released a news on Sunday that they're ready to help Fannie Mae and Freddie Mac if necessary. The news supposedly gave assurance for investors and bring some calm to the market. However, the positive bias in the market were erased as investors' worries regarding the health state of financial sector resurfaced. Various rumors and sell-off in regional banks pull stocks downward as investors are also worried with the upcoming Q2 earnings report which they predict that banks and financial institutions will have more sizable writedowns to report. In other news, Yahoo Inc. revealed that it had rejected Microsoft's latest attempt to acquire the online search engine in a joint proposal made by activist Carl Icahn. On the earnings front to report this week includes Intel Corp., Coca-Cola Corp., Microsoft Corp. and Citigroup Corp. Dow ended down by 45.35 pts or 0.41% to 11055.19, S&P500 fell 11.19 pts or 0.90% to 1228.30 while Nasdaq fell 26.21 pts or 1.17% to 2212.87.
Asian markets may start the day lower again today following a rollercoaster ride session yesterday. Markets around the region started the day lower only to rally up and finally ended down yesterday. The worrying financial sector in the US may prove to be hard to avoid in Asia today and selling pressure may continue today. With oil price go back up above $145 region, it may just add more reason for investors to selloff stocks today. However, if there's some positive news to come out of the region or even the US, markets may have another volatile session like yesterday. Oil was recently traded around $145.06ish per barrel, gold traded around $970.60ish and JPY traded around 106.25ish. Nikkei futures closed at 12970 in CME compared to the close of 13055 here yesterday.
Kospi may start the day lower again today after rebounding late last week and the selloff continue yesterday. If investors are becoming even more nervous with the situation, Kospi may go back down below 200 region and towards 197ish region today. However, if there's some piece of positive news, it may rebounded back up towards 202ish region today. Yesterday, Kospi was lifted after POSCO gave out a positive forecast for 2nd half of the year.
Hangseng may start the day lower today after touching a high of 22380 yesterday. Volatility is expected to be high again today as investors are becoming more worried regarding the health of financial sector in the US. A rally in China mainland markets yesterday have also failed to boost stocks in Hong Kong as investors are becoming more nervous in the upcoming earnings season from the US. Hangseng may find its support at 21700 and may find its resistance at 22100ish today. Hopefully, some good news will come out of the China mainland and may give Hangseng a boost.
Asian markets may start the day lower again today following a rollercoaster ride session yesterday. Markets around the region started the day lower only to rally up and finally ended down yesterday. The worrying financial sector in the US may prove to be hard to avoid in Asia today and selling pressure may continue today. With oil price go back up above $145 region, it may just add more reason for investors to selloff stocks today. However, if there's some positive news to come out of the region or even the US, markets may have another volatile session like yesterday. Oil was recently traded around $145.06ish per barrel, gold traded around $970.60ish and JPY traded around 106.25ish. Nikkei futures closed at 12970 in CME compared to the close of 13055 here yesterday.
Kospi may start the day lower again today after rebounding late last week and the selloff continue yesterday. If investors are becoming even more nervous with the situation, Kospi may go back down below 200 region and towards 197ish region today. However, if there's some piece of positive news, it may rebounded back up towards 202ish region today. Yesterday, Kospi was lifted after POSCO gave out a positive forecast for 2nd half of the year.
Hangseng may start the day lower today after touching a high of 22380 yesterday. Volatility is expected to be high again today as investors are becoming more worried regarding the health of financial sector in the US. A rally in China mainland markets yesterday have also failed to boost stocks in Hong Kong as investors are becoming more nervous in the upcoming earnings season from the US. Hangseng may find its support at 21700 and may find its resistance at 22100ish today. Hopefully, some good news will come out of the China mainland and may give Hangseng a boost.
Senin, 14 Juli 2008
Asian market preview 14/07/2008
US markets ended the week lower on Friday amid fresh concerns regarding financial sector especially Fannie Mae and Freddie Mac. The fate of the 2 institutions is being watched carefully as they hold guarantees for about $5 trillion worth of mortgages or about half the outstanding mortgages in the US. Stocks fluctuated with reports saying that the Fed could aid both institutions. The rally in oil also give reasons for investors to let go of their stocks on Friday after oil go back above $147 per barrel during the session. Volatility was high in the session as the Dow dropped more than 250 pts at one time, then it briefly touched the positive side before going back down again. In economic news, US trade deficit narrowed in May as exports, including industrial supplies and consumer goods climbed to all time high. Commerce Dept said growing exports drove trade gap down to $58.8 billion or 1.2% decrease from April. The Dow ended down by 128.48 pts or 1.14% to 11100.54, S&P500 fell 13.90 pts or 1.11% to 1239.49 while Nasdaq fell 18.77 pts or 0.83% to 2239.08.
Asian markets may open lower today following US markets' tumble on Friday caused by the growing concerns about credit market and the stability of US financial institutions. Exporters may be hit after US$ weakened against major currencies and stocks may go down further after oil hit fresh records of above $147 per barrel on Friday. However, the drop may be limited as investors may try to get bargain prices on stocks on optimism that the earnings for Asian companies are not going to be so bad. Oil was recently traded at $144.30ish per barrel, gold traded at $963.85ish and JPY traded around 106.40ish. Nikkei futures closed at 12950 in CME compared to the close of 12935 here on Friday.
Kospi may open lower today after staging a rebound on Friday. With oil go back above $140 per barrel, airlines may be hit again as concerns of high fuel will cut profit may hurt investors' confidence. Kospi may go back down towards 196ish but bargain hunters may limit the drop and drive Kospi back up again. Volatility is expected to be high too as mixed news came out of the US and investors may want to watch closely for this week's financials earnings to come out of the US.
Hangseng may open lower today at around 22000 and may go back below 22000 if investors decided that the rally on Friday is a bit premature. Ever growing concerns about the US credit market and also the state of financial institutions in the US may drive market lower. Exporters and oil refiners may push market down further on profit concerns. However, investors may want to see China's mainland markets too to see how they're performing and to see if Asian markets still have enough reason for a rally. Banks' earnings from China remains positive and the outlook of other sector seems to be doing okay which will give investors reason to buy. Hangseng may find its support at 21700 and its resistance at 22300 today.
Asian markets may open lower today following US markets' tumble on Friday caused by the growing concerns about credit market and the stability of US financial institutions. Exporters may be hit after US$ weakened against major currencies and stocks may go down further after oil hit fresh records of above $147 per barrel on Friday. However, the drop may be limited as investors may try to get bargain prices on stocks on optimism that the earnings for Asian companies are not going to be so bad. Oil was recently traded at $144.30ish per barrel, gold traded at $963.85ish and JPY traded around 106.40ish. Nikkei futures closed at 12950 in CME compared to the close of 12935 here on Friday.
Kospi may open lower today after staging a rebound on Friday. With oil go back above $140 per barrel, airlines may be hit again as concerns of high fuel will cut profit may hurt investors' confidence. Kospi may go back down towards 196ish but bargain hunters may limit the drop and drive Kospi back up again. Volatility is expected to be high too as mixed news came out of the US and investors may want to watch closely for this week's financials earnings to come out of the US.
Hangseng may open lower today at around 22000 and may go back below 22000 if investors decided that the rally on Friday is a bit premature. Ever growing concerns about the US credit market and also the state of financial institutions in the US may drive market lower. Exporters and oil refiners may push market down further on profit concerns. However, investors may want to see China's mainland markets too to see how they're performing and to see if Asian markets still have enough reason for a rally. Banks' earnings from China remains positive and the outlook of other sector seems to be doing okay which will give investors reason to buy. Hangseng may find its support at 21700 and its resistance at 22300 today.
Jumat, 11 Juli 2008
Asian market preview 11/07/2008
US markets were managed to close in a positive territory last night after a volatile session. The multi-billion merger deal between Dow Chemical Co. and rival Rohm and Haas Co. provided reasons for investors to buy into shares last night and slightly ignore concerns about financial sector and energy costs. Shares of Freddie Mac and Fannie Mae fell further last night, 22% and 13.8% respectively on concerns that they may have to sell more new shares to compensate for losses from the housing slump. Comments by Treasury Secretary Henry Paulson saying that government can't be expected to bail out troubled financial companies sent most investment banks and insurance companies tumbling. The rebound in oil prices also capped the gains in the US markets as oil gained $5 after Iran tested another missile and more supply disruptions in Nigeria is feared. Labor Department reported that new application for unemployment fell 58,000 to 346,000 but continuing claims rose, indicating lingering weakness in the labor market. The Dow finished higher by 81.58 pts or 0.73% to 11229.02, S&P500 rose by 8.70 pts or 0.70% to 1253.39 while Nasdaq rose 22.96 pts or 1.03% to 2257.85.
Asian market may start the day higher today and may continue yesterday's rebound after US markets showed a little bit of buying power last night. However, with oil rose back above $141 per barrel, gains may be limited on inflationary concerns. Investors may not want to hold positions through the weekend in these times of uncertainties. Selling pressure may still be there after comments made by US' Treasury Secretary where they may have to allow financial companies to fail. Oil was recently traded around $141.90ish per barrel, gold traded around $945.75ish and JPY traded around 107.05ish. Nikkei futures was closed at 13130 in CME compared to the close of 13080 here yesterday.
Kospi may open higher today following Wall Street's slightly positive cues. BoK's decision to leave rate unchanged at 5% yesterday sparked a late recovery for Kospi and it may continue on today. However, with oil back above $141 level, gains may be limited and profit taking may take place in these volatile times. Investors may want to cash in ahead of the weekend and before GE's Q2 results to come out tonight in the US. Kospi may find its resistance at around 203 and its support at around 196.
Hangseng may open the day higher today after staging a rebound yesterday. Hangseng managed to stage a 500 pts rally in the first session yesterday but was cut in 2nd session after Chinese market ended the day lower. Today, Hangseng may open around 21900ish and may go back up above 22000. However, Chinese markets may prove to be another test for Hangseng and it may follow the direction of Chinese markets to go up or go back down. The rebound in oil prices may also limit today's gain in the Hangseng market. Hangseng may find its support at 21700 and its resistance at 22200ish.
Asian market may start the day higher today and may continue yesterday's rebound after US markets showed a little bit of buying power last night. However, with oil rose back above $141 per barrel, gains may be limited on inflationary concerns. Investors may not want to hold positions through the weekend in these times of uncertainties. Selling pressure may still be there after comments made by US' Treasury Secretary where they may have to allow financial companies to fail. Oil was recently traded around $141.90ish per barrel, gold traded around $945.75ish and JPY traded around 107.05ish. Nikkei futures was closed at 13130 in CME compared to the close of 13080 here yesterday.
Kospi may open higher today following Wall Street's slightly positive cues. BoK's decision to leave rate unchanged at 5% yesterday sparked a late recovery for Kospi and it may continue on today. However, with oil back above $141 level, gains may be limited and profit taking may take place in these volatile times. Investors may want to cash in ahead of the weekend and before GE's Q2 results to come out tonight in the US. Kospi may find its resistance at around 203 and its support at around 196.
Hangseng may open the day higher today after staging a rebound yesterday. Hangseng managed to stage a 500 pts rally in the first session yesterday but was cut in 2nd session after Chinese market ended the day lower. Today, Hangseng may open around 21900ish and may go back up above 22000. However, Chinese markets may prove to be another test for Hangseng and it may follow the direction of Chinese markets to go up or go back down. The rebound in oil prices may also limit today's gain in the Hangseng market. Hangseng may find its support at 21700 and its resistance at 22200ish.
Kamis, 10 Juli 2008
Asian market preview 10/07/2008
US markets tumbled last night led by financials a day after that sector helped the markets to a big rally. Financial sectors tumbled on concerns that the credit crisis is far from over and more and more banks and lenders are needing more capital to support its existence. Freddie Mac and Fannie Mae were among those hardest hit with each falling 24% and 13% respectively. A better-than-expected earnings Q2 earnings result from Alcoa Inc also did not help lift the mood of investors as they feared that more bad news to come from the Q2 earnings report. Oil prices also fluctuated yesterday after Iran fired a test missile and was settled at $136.05 per barrel. US markets have officially entered bear market territory yesterday after tumbling more than 2% each. In these times of uncertainties, it is hard to be optimistic about stocks and even tech sector get hit after analyst put a negative note on Cisco. The Dow ended down by 236.77 pts or 2.08% to 11147.44 after rising more than 150 pts a day before, S&P500 fell 29.01 pts or 2.28% to 1244.69 while Nasdaq fell 59.55 pts or 2.60% to 2234.89.
Asian markets may open lower again today following a rebound which was fueled by US markets yesterday. Today, investors may turn sour again on stock markets as more fear and uncertainties came up from the US last night. The prolonged credit crisis problem in the US may cut financial sector's valuation by half. Investors may also leave from Asian markets as most Asian countries rely on export to the US and with the economic slowdown, exports may be hit hard. Financials may also be pressurised and high oil prices may still weigh down on investors. Oil was recently traded around $136ish per barrel, gold traded around $927ish and JPY traded around 106.88ish. Nikkei futures was closed at 13050 in CME, compared to the close of 13165 here yesterday. Nikkei may close below 13000 level today.
Kospi may open lower today and may extend its losses after closing at 14-month low yesterday. It may penetrate the 195 mark and may go toward the 190ish mark. BoK is expected to keep rate on hold at its highest level. LG display forecast 3rd quarter earnings may decline more than analysts' estimate as prices of LCD TV declines. Investors have been dumping stocks and although the market is oversold, there seems to be no end to the selling until there are some positive news for the market. Foreigners have been net sellers for the past few weeks.
Hangseng may open lower today after staging the biggest gain for the past 3 month yesterday. It may open around 21600-21700 today and may even erase the previous day's gains. China mainland markets may still be the driving force and if it keep on rising sharply, Hangseng may be saved from a sharp fall today. Hangseng may find support at around 21500 and a very stron support at 21000. It may find its resistance at 22000 today. The previous day's sharp rally may be a catalyst and reason for investors to dump stocks and have a profit taking session today.
Asian markets may open lower again today following a rebound which was fueled by US markets yesterday. Today, investors may turn sour again on stock markets as more fear and uncertainties came up from the US last night. The prolonged credit crisis problem in the US may cut financial sector's valuation by half. Investors may also leave from Asian markets as most Asian countries rely on export to the US and with the economic slowdown, exports may be hit hard. Financials may also be pressurised and high oil prices may still weigh down on investors. Oil was recently traded around $136ish per barrel, gold traded around $927ish and JPY traded around 106.88ish. Nikkei futures was closed at 13050 in CME, compared to the close of 13165 here yesterday. Nikkei may close below 13000 level today.
Kospi may open lower today and may extend its losses after closing at 14-month low yesterday. It may penetrate the 195 mark and may go toward the 190ish mark. BoK is expected to keep rate on hold at its highest level. LG display forecast 3rd quarter earnings may decline more than analysts' estimate as prices of LCD TV declines. Investors have been dumping stocks and although the market is oversold, there seems to be no end to the selling until there are some positive news for the market. Foreigners have been net sellers for the past few weeks.
Hangseng may open lower today after staging the biggest gain for the past 3 month yesterday. It may open around 21600-21700 today and may even erase the previous day's gains. China mainland markets may still be the driving force and if it keep on rising sharply, Hangseng may be saved from a sharp fall today. Hangseng may find support at around 21500 and a very stron support at 21000. It may find its resistance at 22000 today. The previous day's sharp rally may be a catalyst and reason for investors to dump stocks and have a profit taking session today.
Rabu, 09 Juli 2008
Asian market preview 09/07/2008
US markets closed sharply higher last night as oil fell for 2nd straight day, bringing the drop to $9. Oil dropped more than $5 last night to close at $136.04 per barrel. The market was relieved to know that The Fed might extend its lending efforts to investment banks and that boosted government-backed lenders Fannie Mae and Freddie Mac to rebound from previous day's steep losses. Meanwhile, National Association of Realtors reported on Tuesday that pending sales of US homes fell by 4.7% in May from previous month. However, all the optimism from the drop in oil and other commodity prices, the prospect of lenders to raise fresh capital have all helped the US markets to rally and leave the Dow 19.6% off from record high. More optimism is going to be shown on Wednesday as Alcoa kicks off the earnings season with results beating expectation. The Dow rose 152.25 or 1.36% to 11383.21, S&P500 rose 21.39 pts or 1.71% to 1273.70 while Nasdaq rose 51.10 pts or 2.28% to 2294.42.
Asian markets are set for a rebound today at the open following US markets sharp rally and the sharp fall in energy prices and other commodity such as corn. The sharp fall around the region yesterday may help the rebound today as bargain hunting may kick in after benchmark around Asia touched its lowest level since March. The drop in oil prices may help stocks at general but may drag down oil producers and also other commodity related stocks. Oil was recently traded around $135.90ish, gold traded around $917.15ish and JPY traded around 107.40ish. Nikkei futures was closed at 13300 in CME compared to the close of 13030 here yesterday.
Kospi may open higher today and may finally get its long-awaited rebound today following the losses it suffered for the past 2 weeks, leading it to its lowest level since March. Kospi may open above the 200 mark today and may extend its rally towards 205 today with optimism finally showing in the US and government's intervention in preventing the Won to fall further. BoK is doing whatever they can to curb inflation without raising interest rate and investors may get more confident today as stocks are considered to be a bargain at these levels.
Hangseng may open higher today following a steep loss yesterday. It may even go back towards the 21800 level again today or may even try to break the 22000 level if China markets are continuing its rebound today. Bargain hunters may help the market to stage its rebound and with oil back to around $135 level, oil refiners giants such as Sinopec and Petrochina may lead Hangseng higher. Financial sector may also lead the rebound here today with more banks posted optimism in their Q2 earnings. Hangseng may find its support at 21000 and its resistance at 22000 today.
Asian markets are set for a rebound today at the open following US markets sharp rally and the sharp fall in energy prices and other commodity such as corn. The sharp fall around the region yesterday may help the rebound today as bargain hunting may kick in after benchmark around Asia touched its lowest level since March. The drop in oil prices may help stocks at general but may drag down oil producers and also other commodity related stocks. Oil was recently traded around $135.90ish, gold traded around $917.15ish and JPY traded around 107.40ish. Nikkei futures was closed at 13300 in CME compared to the close of 13030 here yesterday.
Kospi may open higher today and may finally get its long-awaited rebound today following the losses it suffered for the past 2 weeks, leading it to its lowest level since March. Kospi may open above the 200 mark today and may extend its rally towards 205 today with optimism finally showing in the US and government's intervention in preventing the Won to fall further. BoK is doing whatever they can to curb inflation without raising interest rate and investors may get more confident today as stocks are considered to be a bargain at these levels.
Hangseng may open higher today following a steep loss yesterday. It may even go back towards the 21800 level again today or may even try to break the 22000 level if China markets are continuing its rebound today. Bargain hunters may help the market to stage its rebound and with oil back to around $135 level, oil refiners giants such as Sinopec and Petrochina may lead Hangseng higher. Financial sector may also lead the rebound here today with more banks posted optimism in their Q2 earnings. Hangseng may find its support at 21000 and its resistance at 22000 today.
Selasa, 08 Juli 2008
Asian market preview 08/07/2008
US markets slipped yet again last night after opening stronger on the drop in oil prices. More concerns about financial sector as Freddie Mac and Fannie Mae were reported that they may need to raise more capital sent the Dow to its lowest since 2006 at one point. The $4 pullback in oil price did little to comfort the market as the high energy prices have 'destroyed' market confidence in the past few weeks. Comments from SF Fed, saying that the financial markets remained fragile and it will take time for conditions to improve but things could get worse before they get better, also added to markets' concerns and nervousness. Ahead of the earnings season, financial sector once again dragged down the market with banking stocks fell more than 2% each. The Dow fell 56.58 pts or 0.5% to 11231.96. It went as high as 11399ish and as low as 11120ish during the day. S&P500 fell 10.59 pts or 0.84% to 1252.31 and Nasdaq fell 2.06 pts or 0.09% to 2243.32.
Asian markets may be in dilemma today after staging a rebound yesterday. Lower oil prices and other commodities such as metals may drive that sector lower today, but with the prospect of good earnings ahead of the earnings season, markets may continue to rally following yesterday's. Financial sector may yet again be boosted on prospect that bank will post huge profits last quarter. However, nervousness may still be in the air ahead of the US earnings season and the grim outlook of the earnings for US companies. Oil was recently traded around $141.40ish, gold traded around $923.90ish and JPY traded around 107.05ish. Nikkei futures was closed at 13400 in CME compared to the close of 13365 here yesterday.
Kospi may open the day lower yet again after staging a mild rebound yesterday. Concerns over inflation may still hurt investors' confidence but the pullback in oil prices may boost the market a little. Volatility may be high yet again as Kospi approaching its lowest point since March with bargain hunters may start kicking in as they judge the stocks prices are quite cheap in valuation right now. Kospi may find its support at 200 and its resistance at around 205.
Hangseng may start the day lower after US markets fell again last night. However, strong market sentiment from mainland China over optimism on financial sector may boost Hangseng yet again. China rebounded almost 5% yesterday and Hangseng rebounded more than 2%. If China market continue to rally today, Hangseng may follow. However with earnings season to kick off in the US later on tonight, investors may want to wait and see how the US economy is faring. Hangseng may find its support at 21500 and its resistance at 22200ish today.
Asian markets may be in dilemma today after staging a rebound yesterday. Lower oil prices and other commodities such as metals may drive that sector lower today, but with the prospect of good earnings ahead of the earnings season, markets may continue to rally following yesterday's. Financial sector may yet again be boosted on prospect that bank will post huge profits last quarter. However, nervousness may still be in the air ahead of the US earnings season and the grim outlook of the earnings for US companies. Oil was recently traded around $141.40ish, gold traded around $923.90ish and JPY traded around 107.05ish. Nikkei futures was closed at 13400 in CME compared to the close of 13365 here yesterday.
Kospi may open the day lower yet again after staging a mild rebound yesterday. Concerns over inflation may still hurt investors' confidence but the pullback in oil prices may boost the market a little. Volatility may be high yet again as Kospi approaching its lowest point since March with bargain hunters may start kicking in as they judge the stocks prices are quite cheap in valuation right now. Kospi may find its support at 200 and its resistance at around 205.
Hangseng may start the day lower after US markets fell again last night. However, strong market sentiment from mainland China over optimism on financial sector may boost Hangseng yet again. China rebounded almost 5% yesterday and Hangseng rebounded more than 2%. If China market continue to rally today, Hangseng may follow. However with earnings season to kick off in the US later on tonight, investors may want to wait and see how the US economy is faring. Hangseng may find its support at 21500 and its resistance at 22200ish today.
Senin, 07 Juli 2008
Asian market preview 07/07/2008
US markets were closed for Indpendence Day holiday on Friday. European markets which were opened on that day declined to end the week lower which were the same to most Asian markets which was opened on Friday. US markets are expecting more data in form of Q2 corporate earnings besides more economic data and also higher oil prices. Earnings season will kick off unofficially on Tuesday starting with Alcoa Inc and also heavyweight GE to report on Friday. Investors will be watching these earnings report and see how the economical slowdown is going to affect these companies. Companies' target earnings have been lowered dramatically by analysts and investors are expecting that these lowered targets may be proved quite hard to beat as well. National Association of Realtors will be reporting on pending sales of existing homes on Tuesday, Labor Department to report its weekly reading on unemployment claims on Thursday, University of Michigan will release its preliminary reading on July consumer sentiment and Commerce Dept will be reporting US trade deficit on same day. Wall St finished last week with another decline, with Dow down 0.51%, S&P500 down 1.21% and Nasdaq fell 3.01%.
Asian markets may open the start of the trading week rather flat near Friday's closing numbers today with no cues from the US on Friday. Investors may start trading slightly higher on bargain hunting as markets have came down significantly for the past month. However, the higher sentiment on the markets may not last as investors may also be waiting for more solid grounds before making heavy bets on the stock markets. With oil approaching $150 per barrel, investors may find it hard to get the confidence they need. Oil was closed around $144.20 per barrel on Friday, gold was traded around $933.15 and JPY traded around 106.70ish. Nikkei futures was closed at 13255 here on Friday.
Kospi may open flat today with upward bias in the early trading hours. However, more selling pressure maybe expected today as investors may still want to unload stocks to wait on the BoK's rate decision also to see how the US earnings season will start off. Local investors may follow foreigners if they are still selling stocks. Kospi may find its support at 200 today and its strong support level is at March's lowest level of 196ish. Trading volumes may be thin but volatility may be high with bargain hunters may still come in at around these levels.
Hangseng may start the day rather flat today with no cues from the US markets. Investors may turn to Chinese markets for direction and Chinese banks may continue its rebound from Friday with more optimism that their earnings will be higher in Q2. However, selling pressure may mount up later on in the day as investors may choose to wait and see along the sidelines for more certainties from the US and globally. Hangseng may find its support at around 21200ish and may approach 21000 in the near term. 21700 may become quite a resistance for Hangseng. Trading volumes may be thin but volatility is expected to remain high today.
Asian markets may open the start of the trading week rather flat near Friday's closing numbers today with no cues from the US on Friday. Investors may start trading slightly higher on bargain hunting as markets have came down significantly for the past month. However, the higher sentiment on the markets may not last as investors may also be waiting for more solid grounds before making heavy bets on the stock markets. With oil approaching $150 per barrel, investors may find it hard to get the confidence they need. Oil was closed around $144.20 per barrel on Friday, gold was traded around $933.15 and JPY traded around 106.70ish. Nikkei futures was closed at 13255 here on Friday.
Kospi may open flat today with upward bias in the early trading hours. However, more selling pressure maybe expected today as investors may still want to unload stocks to wait on the BoK's rate decision also to see how the US earnings season will start off. Local investors may follow foreigners if they are still selling stocks. Kospi may find its support at 200 today and its strong support level is at March's lowest level of 196ish. Trading volumes may be thin but volatility may be high with bargain hunters may still come in at around these levels.
Hangseng may start the day rather flat today with no cues from the US markets. Investors may turn to Chinese markets for direction and Chinese banks may continue its rebound from Friday with more optimism that their earnings will be higher in Q2. However, selling pressure may mount up later on in the day as investors may choose to wait and see along the sidelines for more certainties from the US and globally. Hangseng may find its support at around 21200ish and may approach 21000 in the near term. 21700 may become quite a resistance for Hangseng. Trading volumes may be thin but volatility is expected to remain high today.
Jumat, 04 Juli 2008
Asian market preview 04/07/2008
US markets ended mixed on a shortened trading session last night after more mild economic data. The Institute for Supply Management said that its index of service sector activity fell to 48.2 from 51.7 in May. From the labor department, unemployment rate held steady at 5.5% last month but the government also reported 62,000 jobs lost in June, which was close to economists' forecast. Investors are nervous about the strength of the job market because, if more people lose their jobs, consumer spending will be less. Oil also touched fresh record high last night when it touched a high of $145.85 per barrel before settled at $145.29 per barrel, a record close. Investors will be looking at fresh insight next week with the arrival of corporate quarterly number. Alcoa Inc will unofficially start the earnings season and monthly sales report also due next week from retailers. The Dow ended the session higher by 73.03 pts or 0.65% to 11288.54, S&P500 rose 1.38 pts or 0.11% to 1262.90 while Nasdaq fell 6.08 pts or 0.27% to 2245.38. The US markets will be closed tonight for the 4th of July Independence Day holiday.
Asian markets may open slightly firmer today following US mixed close last night and slightly mild jobs number from the US. However, the gains may not hold as oil price touched fresh highs and if it keeps rising in the Asian session, investors would not like it. Asian markets have been oversold in recent weeks and some technical rebound may be in place today. Oil was recently traded around $145.20ish per barrel, gold traded around $933.65ish and JPY traded around 106.70ish. Nikkei futures closed at 13380 in CME last night compared to the close of 13180 here yesterday.
Kospi may open the day higher today after losing for the past 2 weeks. Trading volume may be thin today and hopefully it can sustain its gains until the closing time today. The first resistance may be at around 210ish today and if it can breach that level, it is possible for Kospi to get back towards 212ish and even 215ish later on. However, the gains may not hold as investors are still nervous as oil prices still at record highs. South Korea is still waiting on BoK's rate decision to come out next week.
Hangseng may open slightly higher today following a mixed session in the US and the shortened trading week over there. It may find its first strong resistance at around 21700ish today and may find its support at 21000. Investors may still take cues from the Chinese markets and see how the market over there is doing with the ever rising oil prices. Hopefully the market can sustain its gains until the end of the day but more nervousness among the investors may still weigh on the market.
Asian markets may open slightly firmer today following US mixed close last night and slightly mild jobs number from the US. However, the gains may not hold as oil price touched fresh highs and if it keeps rising in the Asian session, investors would not like it. Asian markets have been oversold in recent weeks and some technical rebound may be in place today. Oil was recently traded around $145.20ish per barrel, gold traded around $933.65ish and JPY traded around 106.70ish. Nikkei futures closed at 13380 in CME last night compared to the close of 13180 here yesterday.
Kospi may open the day higher today after losing for the past 2 weeks. Trading volume may be thin today and hopefully it can sustain its gains until the closing time today. The first resistance may be at around 210ish today and if it can breach that level, it is possible for Kospi to get back towards 212ish and even 215ish later on. However, the gains may not hold as investors are still nervous as oil prices still at record highs. South Korea is still waiting on BoK's rate decision to come out next week.
Hangseng may open slightly higher today following a mixed session in the US and the shortened trading week over there. It may find its first strong resistance at around 21700ish today and may find its support at 21000. Investors may still take cues from the Chinese markets and see how the market over there is doing with the ever rising oil prices. Hopefully the market can sustain its gains until the end of the day but more nervousness among the investors may still weigh on the market.
Kamis, 03 Juli 2008
Asian market preview 03/07/2008
US markets have officially entered the bear market territory after plunging yet again last night. Record high oil price helped the market to accelerate its losses in late afternoon ahead of a long weekend in the US. Oil settled at $143.57 per barrel after report showed that oil supplies fell more than expected and the rising tension in Middle East and rose further to $144.32 per barrel in after hours trading. Investors also cautious ahead of 4th of July holiday and employment data to be released later on tonight. Slightly positive news came on Wednesday after Commerce Department said that factory orders rose by 0.6% in May. GM stocks plunged 15% on fears that the company may face bankcruptcy. The Dow fell 166.75 pts or 1.46% to 11215.51, its lowest close since August 2006. S&P500 fell 23.39 pts or 1.82% to 1261.52 and Nasdaq fell 53.51 pts or 2.32% to 2251.46.
Asian markets may open lower today and may extend its losing streak yet again for most markets. High crude oil price may weigh on the markets and may cause investors to sell more stocks on fears that global economic slowdown may hurt companies' earnings. Japan's Nikkei experienced the longest losing streak in more than 40 years yesterday after the market closed lower for 10th consecutive sessions. Oil was recently traded around $143.97ish per barrel, gold traded around $942.70ish and JPY traded around 105.80ish. Nikkei futures closed at 13220 in CME compared to the close of 13425 here yesterday.
Kospi may open lower today and may extend its losses following bad inflation report yesterday and on concern that BoK may have to raise rates when they meet later next week. Kospi may test the 205 level and may even go further towards the 200 level if investors have really turned pessimistic. Volatility may be quite high again today if bargain hunters start to come in and just buy cheap stocks. Airline companies may post big drops again after oil traded at around $144ish per barrel.
Hangseng may open lower today at around 21500ish and may even test the 21000 level today if there's no positive sentiment to come out of the China mainland market. As usual, Hangseng may trade closely related to the Chinese markets and may take its cues to where the market is heading daily. It seems that China markets may have another rough session again today and it may cause Hangseng to go down further. Volatility may be high again as stocks is seen quite cheap now and the valuation of the stocks is quite fair. Hangseng may find its support at 21200 and may find its resistance at around 21900 today.
Asian markets may open lower today and may extend its losing streak yet again for most markets. High crude oil price may weigh on the markets and may cause investors to sell more stocks on fears that global economic slowdown may hurt companies' earnings. Japan's Nikkei experienced the longest losing streak in more than 40 years yesterday after the market closed lower for 10th consecutive sessions. Oil was recently traded around $143.97ish per barrel, gold traded around $942.70ish and JPY traded around 105.80ish. Nikkei futures closed at 13220 in CME compared to the close of 13425 here yesterday.
Kospi may open lower today and may extend its losses following bad inflation report yesterday and on concern that BoK may have to raise rates when they meet later next week. Kospi may test the 205 level and may even go further towards the 200 level if investors have really turned pessimistic. Volatility may be quite high again today if bargain hunters start to come in and just buy cheap stocks. Airline companies may post big drops again after oil traded at around $144ish per barrel.
Hangseng may open lower today at around 21500ish and may even test the 21000 level today if there's no positive sentiment to come out of the China mainland market. As usual, Hangseng may trade closely related to the Chinese markets and may take its cues to where the market is heading daily. It seems that China markets may have another rough session again today and it may cause Hangseng to go down further. Volatility may be high again as stocks is seen quite cheap now and the valuation of the stocks is quite fair. Hangseng may find its support at 21200 and may find its resistance at around 21900 today.
Rabu, 02 Juli 2008
Asian market preview 02/07/2008
US markets started the 2nd half with an erratic session but managed a modest gain last night after mixed news made it clear that the US is still in deep economic problems but may have some positive outlook. Markets started a bit higher but then plunged down, 150 pts for the Dow after oil touched new intraday high of above $143 per barrel. Mounting tensions in the Middle East and fear of supply shortage have caused oil to keep rising. The ISM report also showed a disappointment in manufacturing in June but it also showed strong exports for US factories. The piece of good news came from GM, while it reported a decline in sales, but it came in better than analysts' forecasts and GM beat Toyota in Detroit area gave a reason for investors to buy. Technical rebound also bound to happen after the markets have been sold off heavily in the past month. The Dow ended up by 32.25 pts or 0.28% to 11382.26, S&P500 rose 4.91 pts or 0.38% to 1284.91 while Nasdaq rose 11.99 or 0.52% to 2304.97.
Asian markets may start the day higher today following a slight upward momentum in the US markets last night. However, as we have seen the past few sessions, although markets may start higher in the morning, it seems that it can't hold onto its gains for the rest of the day due to the spiking oil prices and more uncertainties regarding the global economy. Oil was recently traded at around $141.69is per barrel, gold traded around $939ish and JPY traded around 106ish. Nikkei futures closed at 13475 in CME last night compared to the close of 13275 here yesterday.
Kospi may open higher again today at around 215-216ish but may not hang onto its gains as the market's still nervous regarding its inflation data and the central bank decision on rates. Trading is expected to be volatile like yesterday as investors may seek for bargain stocks but nervousness may cause investors to sell stocks.
Hangseng may open higher after its one day holiday yesterday at around 22100-22200ish today. However, with high oil and the pessimism in China mainland market, Hangseng may have a bumpy day today. Volatility may be high again with bargain hunters may stop Hangseng to fall too deep. Hangseng may find its support at around 21700 and its resistance at 22300 today.
Asian markets may start the day higher today following a slight upward momentum in the US markets last night. However, as we have seen the past few sessions, although markets may start higher in the morning, it seems that it can't hold onto its gains for the rest of the day due to the spiking oil prices and more uncertainties regarding the global economy. Oil was recently traded at around $141.69is per barrel, gold traded around $939ish and JPY traded around 106ish. Nikkei futures closed at 13475 in CME last night compared to the close of 13275 here yesterday.
Kospi may open higher again today at around 215-216ish but may not hang onto its gains as the market's still nervous regarding its inflation data and the central bank decision on rates. Trading is expected to be volatile like yesterday as investors may seek for bargain stocks but nervousness may cause investors to sell stocks.
Hangseng may open higher after its one day holiday yesterday at around 22100-22200ish today. However, with high oil and the pessimism in China mainland market, Hangseng may have a bumpy day today. Volatility may be high again with bargain hunters may stop Hangseng to fall too deep. Hangseng may find its support at around 21700 and its resistance at 22300 today.
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