Asian market preview 02/01/2008

Asian markets may start the year lower with the weak close on Wall St on the last day of trading in 2007. Nikkei is still closed today for New Year's holiday while JPY traded in the 111ish region, crude oil traded at $96ish per barrel, gold traded at $830ish per barrel and Nikkei futures closed at 15225 in CME. Asian markets this year may not gain as much as last year but they'll continue to advance nonetheless. Anything related to China market will be strong this year in my opinion.
The Kospi might start lower in 2008 but I think it's not going to stay weak for long because with the holiday season's over, investors are bound to come back and starts investing again in these markets. Kospi may open around high 240ish-241ish region I think and if it opened around that area, it's still a good place to get a BUY in my opinion. Kospi gains this year may not be as big as it was last year. Commodities and oil related companies may pace the advance. My target price range for Kospi is: 240ish-246ish.
Hangseng may also start the first day in 2008 weaker by a bit but strong market sentiment may allow Hangseng to gain more grounds again today. Hangseng may open around high 27600ish-27700ish region and if it really opened around that price, it's still a good area to get a BUY for me. My target price range for Hangseng today: 27500ish-28300ish.