Yet another rough session happened here in Asia with markets generally lost 5-7% throughout the region. Every markets here in Asia are in the red today. Volatility in the markets are high and commodities prices also dropped today with gold back around $860ish and crude oil at $86ish per barrel. Nikkei index fell 752.89 pts or 5.65% to 12573.05 and its Nikkei futures dropped to 12510 in Osaka.
Kospi opened almost 1000 pts lower at 205.50 and it went up a bit to 207ish before going back down to 204ish. It went back up again to its highest at 209.15 before plunging to its lowest at 202.40 and closed the day at 204.85. Volatility was high again today with movements ranging from 150-400 pts each chance. Exporters were battered again today and stocks like Samsung, Hyundai Heavy and Posco dropped to lowest this year. Kospi moved between 202.40-209.15.
Hangseng opened lower at 22971, which strongly indicated a bear market is here. It went straight down towards the 22200ish level before it went back up to 22700ish and it went back down to close the 1st session at 21925. It started 2nd session opening lower at 21702 and it went as low as 21599 before going back up to 22500ish and went back down again in the highly volatile market. It kept breaking low and it reached as low as 21516 before closed at 21798. Hangseng moved between 21516-22995 in a highly volatile market with market movements ranging between 200-500 pts each chance.
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