Asian market Preview 14/12/2007

US stock markets end mixed last night over skepticism regarding central banks plan to add liquidity to the global financial system will fail to help relieve gridlock in credit markets. The Dow increased 44.06 or 0.3%, S&P500 added 1.82 or 0.1% while Nasdaq fell 2.65 or 0.1%. Overall markets are still weak with about 3 stocks rose for every 2 that fell.
Asian markets might set to get another rollercoaster ride today. Yen is traded at 112.30ish per US$, gold at $797ish and oil at $92.40ish per barrel. Nikkei futures settled at 15520 in CME, lose a little bit of ground from yesterday's close here at 15545.
The Kospi might rebound today after falling for the past 3 sessions. However, it might touch the 240 level or even below. I would recommend a wait and see here to see where the market is really going. If you want to SELL, anything above yesterday's level is quite good still but I recommend to take small profit in the 50ish points range. A good chance to BUY is when it is around 240 or below. My target range for Kospi today: 239ish-246ish.
Hangseng might rebound today after losing so much ground for the past 3 days. However, a fall might happen too before the rebound. Hangseng might touch 27300ish as its lowest and I think it's a good chance to BUY at that level. A good SELL is when Hangseng open near yesterday's closing price or higher. I think it's only good to SELL at or near the open and take quick profit. My target price range for Hangseng today: 27300ish-28000ish.