US markets soared last night following after news came out on Sunday that the government have taken over Freddie Mac and Fannie Mae. The markets rallied alongside Europe and Asia, staging one of the biggest 1 day rally around the world. The takeover was cheered by investors and it boosted confidence for financials and home builders. However, the move did not immediately help all areas of the economy for example tech which was battered badly last week. Analysts believe that the rescue for both companies may provide a short-term rally and lessened the bear grip on the market. Financials and home builders provided boosts for the markets while Tech sector still quite lagging behind on worries that global slowdown may slow demands. Crude oil price rose slightly on fears that hurricane Ike may be on its way to oil infrastructure in the Gulf of Mexico. Light sweet crude rose 11 cents to settle at $106.34 per barrel. The Dow ended up by 289.78 pts or 2.58% to 11,510.74 after being up nearly 350 pts earlier. S&P500 rose 25.48 pts or 2.05% to 1,267.79 while Nasdaq rose 13.88 pts or 0.62% to 2,269.76.
Asian markets may open around yesterday closing price with more upward bias today as most markets have staged quite a big rally yesterday. It is not surprising if some markets may also pullback some of the gains from yesterday as markets rose quite sharply for 1 day. Financials and banks may still provide the steam for today's advance but fears of hurricane Ike may cause oil price to rise and in turn may drag some markets around the region. Oil was recently traded around $106.34ish per barrel, gold traded around $802.50ish and JPY traded around 108.10ish. Nikkei futures was closed at 12540 in CME compared to the close of 12660 here yesterday.
Kospi may open around the same price as yesterday and may still rise further today if there are more market boosting news such as a stronger Won. However, a pullback is not surprising considering that the market rallied more than 5% yesterday. Investors may also still be cautious ahead of more economic data to come out of the US later on this week, and also the fate of commodity prices will be closely watched by investors. Kospi may find its resistance at 193ish and its support at 188ish today.
Hangseng may open around yesterday's closing price with some upward bias. However, with China markets dragging like yesterday, Hangseng may lose some steam and may also be dragged lower by China mainland markets. Yesterday's rally was quite big for Hangseng too and quick profit taking for those hit-n-run traders may cause Hangseng to lose more points. The uncertainty in oil prices may also provide reason for investors to look for safety while they're in the money. Hangseng may find its resistance at 21000 and its support at 20400ish today.
Selasa, 09 September 2008
Senin, 08 September 2008
Asian market preview 08/09/2008
US markets were closed mixed on Friday after investors wrestled with more economic worries, extending sharp losses after a disappointing jobs report but finally got some modest gains as bargain hunters kicked in. Markets fell after Labor Department reported that payrolls shrank more than anticipated, shrank 84,000 compared to the predicted of 75,000 decrease. Unemployment rate rose to 6.1% from 5.7%. However, markets got boosted as investors saw opportunity in the sharp drops during the week and consider that most of the stocks are near the bottom. Speculative buying dominated the markets on Friday as oil continued to fall, settling down $1.66 at $106.23 per barrel. Financials mostly rose as speculation that Lehman Brothers Inc is expected to survive the credit crisis. Over the weekend, government announced that the US government have seized control of 2 troubled mortgage giants, Fannie Mae and Freddie Mac in the biggest step taken by officials to grapple with the ever-persistent credit crisis. The Dow ended up by 32.73 pts or 0.29% to 11,220.96, S&P500 rose 5.48 pts or 0.44% to 1,242.31 while Nasdaq fell 3.16 pts or 0.14% to 2,255.88.
Asian markets may open slightly higher today after US markets seemed to have rebounded slightly. Technical rebound may dominate the market today with bargain hunters may kick in to buy battered stocks from last week. The falling oil prices may finally help and should be able to give some comfort for investors as inflation problem slightly eased. The announcement that US government have taken over Fannie Mae and Freddie Mac may also give some hope for investors. Oil was recently traded around $106.23ish per barrel, gold traded around $802.80ish and JPY traded around 107.36ish. Nikkei futures were closed at 12210 in CME compared to the close of 12105 here on Friday.
Kospi may open slightly higher today as Wall St mostly rose on Friday on bargain hunting. Kospi have been battered quite bad last week and investors may finally come to their senses and may start buying stocks, which are quite cheap and reasonable now. With the continued weakness in energy market, investors may have less to worry about in inflation sector. Kospi may rise more towards 185ish and may find strong resistance there while it may find a strong support in the 178ish region today.
Hangseng may open higher today as US markets are able to manuver its way through bad job data on Friday and managed to close mostly higher. With the takeover of Fannie Mae and Freddie Mac, investors may find it comforting as the 2 giants finally gets the help they need. Hangseng futures fell by quite a margin after market closed on Friday. Technical rebound and bargain hunting may help Hangseng today. Hangseng may find its resistance at 20500 today and its support at 19700 today. China markets may also play a part in determining whether Hangseng will rise and gets its rebound or may even slide further down as it had broken the 20,000 support point.
Asian markets may open slightly higher today after US markets seemed to have rebounded slightly. Technical rebound may dominate the market today with bargain hunters may kick in to buy battered stocks from last week. The falling oil prices may finally help and should be able to give some comfort for investors as inflation problem slightly eased. The announcement that US government have taken over Fannie Mae and Freddie Mac may also give some hope for investors. Oil was recently traded around $106.23ish per barrel, gold traded around $802.80ish and JPY traded around 107.36ish. Nikkei futures were closed at 12210 in CME compared to the close of 12105 here on Friday.
Kospi may open slightly higher today as Wall St mostly rose on Friday on bargain hunting. Kospi have been battered quite bad last week and investors may finally come to their senses and may start buying stocks, which are quite cheap and reasonable now. With the continued weakness in energy market, investors may have less to worry about in inflation sector. Kospi may rise more towards 185ish and may find strong resistance there while it may find a strong support in the 178ish region today.
Hangseng may open higher today as US markets are able to manuver its way through bad job data on Friday and managed to close mostly higher. With the takeover of Fannie Mae and Freddie Mac, investors may find it comforting as the 2 giants finally gets the help they need. Hangseng futures fell by quite a margin after market closed on Friday. Technical rebound and bargain hunting may help Hangseng today. Hangseng may find its resistance at 20500 today and its support at 19700 today. China markets may also play a part in determining whether Hangseng will rise and gets its rebound or may even slide further down as it had broken the 20,000 support point.
Jumat, 05 September 2008
Asian market preview 05/09/2008
US markets plunged last night after retail and employment data mounted more fears on economic slowdown for investors and devastated hopes for a late-year recovery. Investors were already nervous waiting for August employment report due on Friday, so the weak retail sales released last night added to the worries as a major blow and investors did not like it one bit. Higher gas and food prices have caused shoppers to cut their spendings on luxury items. Another bad news came from Labor Department where they said that new applications for unemployment rose by 15,000 last week from the previous week signaling weak job markets. The market was overwhelmed by the strings of bad news that it showed little reaction when the ISM said that service sector grew unexpectedly in August for first time in 3 months as new orders increased and inflation moderated. The Dow plunged down 344.65 pts or 2.99% to 11,188.23, S&P500 fell 38.15 pts or 2.99% to 1,236.83 and Nasdaq fell 74.69 pts or 3.20% to 2,259.04.
Asian markets may open lower today and Japan market have traded lower since the open. It opened at 12200 and it edged down lower further and was recently traded around 12180 after reaching its current low of 12155 and its high of 12255. With the Yen strengthening against US$, it is quite hard for Japanese stocks to get a lift today and may trade around this range for the rest of the day. However, bargain hunters may be a surprise package and may give Nikkei some boost later on in the afternoon. Oil was recently traded around $107.68ish per barrel, gold traded around $798.20ish and JPY traded around 106.87ish. Nikkei futures was recently traded around 12190.
Kospi have opened lower and currently traded off its current day low. It opened at 180.00 and have reached its lowest of 179.75 and its current high at 181.15. It is currently traded around 180.80. Kospi may trade around this region for the rest of the day but it may go up if bargain hunters decided to buy into the cheap stocks available in the market now. South Korean government attempt to curb the falling Won may also help the market a bit and give some optimism to investors. Kospi have been battered quite bad in recent weeks and that may give investors some reason to buy and as oil prices stayed below $110 per barrel, it may give positive impact in long term as inflation pressure moderated around the region.
Hangseng may open lower today and may go well below 20,000 today. It may open around 19700 and may even go down further if investors think that Hangseng is not quite cheap enough right now. If Hangseng did not manage to close above 20,000 by the end of the day, it may go down further next week. Hangseng may find its support at 19,500 today and its resistance at 20,300 today. Volatility may be high as bargain hunters may kick in to buy into the market as Hangseng fall below the 20,000 level for first time this year.
Asian markets may open lower today and Japan market have traded lower since the open. It opened at 12200 and it edged down lower further and was recently traded around 12180 after reaching its current low of 12155 and its high of 12255. With the Yen strengthening against US$, it is quite hard for Japanese stocks to get a lift today and may trade around this range for the rest of the day. However, bargain hunters may be a surprise package and may give Nikkei some boost later on in the afternoon. Oil was recently traded around $107.68ish per barrel, gold traded around $798.20ish and JPY traded around 106.87ish. Nikkei futures was recently traded around 12190.
Kospi have opened lower and currently traded off its current day low. It opened at 180.00 and have reached its lowest of 179.75 and its current high at 181.15. It is currently traded around 180.80. Kospi may trade around this region for the rest of the day but it may go up if bargain hunters decided to buy into the cheap stocks available in the market now. South Korean government attempt to curb the falling Won may also help the market a bit and give some optimism to investors. Kospi have been battered quite bad in recent weeks and that may give investors some reason to buy and as oil prices stayed below $110 per barrel, it may give positive impact in long term as inflation pressure moderated around the region.
Hangseng may open lower today and may go well below 20,000 today. It may open around 19700 and may even go down further if investors think that Hangseng is not quite cheap enough right now. If Hangseng did not manage to close above 20,000 by the end of the day, it may go down further next week. Hangseng may find its support at 19,500 today and its resistance at 20,300 today. Volatility may be high as bargain hunters may kick in to buy into the market as Hangseng fall below the 20,000 level for first time this year.
Kamis, 04 September 2008
Asian market preview 04/09/2008
US markets were closed mixed last night as investors still unsettled about the economy ahead of Friday's employment report and only sliding commodities prices gave some support for the market. Good news came from Commerce Department where it reported a 1.3% increase in orders for manufactured products, compared to the 0.8% predicted by economists. However, that piece of good news was shrugged off by investors as automakers released sluggish August sales and The Fed reported weak economic activity throughout the nation. Meanwhile, oil continued its sliding path, touching briefly below $108 per barrel before it settled down 36 cents at $109.35 per barrel. The troubled financial sector also drew some bargain hunters on positive news for big names such as Ambac, Freddie Mac and Lehman Brothers Inc. The Dow ended up by 15.96 pts or 0.14% to 11,532.88, S&P500 fell 2.60 pts or 0.20% to 1,274.98 while Nasdaq fell 15.51 pts or 0.66% to 2,333.73.
Asian markets may open around yesterday's closing price with somewhat flat bias throughout the day. With oil stayed below $110 per barrel, it may give more confidence for investors to buy into the stock markets but more uncertainties from the US may prevent markets to rally much today. Commodities related companies may be hit hard again today with the continued fall in oil and other commodities. Oil was recently traded around $109.35ish per barrel, gold traded around $808.20ish and JPY traded around 108.25ish. Nikkei futures was closed at 12650 in CME compared to the close of 12630 here yesteday.
Kospi may open at around yesterday's closing price and may move within the same range as the yesterday. Government's attempt to curb the weakening Won may help and give hopes for investors to buy into the stock markets. However, if regional market sentiment is still weak, Kospi may be pressurized further. Bargain hunting may kick in and help to give market some ray of hope and may cause high volatility in the market. Kospi may find its support at 182ish and its resistance at 187ish today.
Hangseng may open at around yesterday's closing price but it may change if regional markets move in a drastic way whether it's up or down. With Hangseng being battered badly yesteday, some technical rebound may happen in early trade. Bargain hunters may kick in and try to get cheap stocks as oil stayed below $110 per barrel. However, weak market sentiment from US and other markets such as China may limit Hangseng's rally today. Hangseng may find its support at its year's lowest point of 20300ish and its resistance at 20800ish.
Asian markets may open around yesterday's closing price with somewhat flat bias throughout the day. With oil stayed below $110 per barrel, it may give more confidence for investors to buy into the stock markets but more uncertainties from the US may prevent markets to rally much today. Commodities related companies may be hit hard again today with the continued fall in oil and other commodities. Oil was recently traded around $109.35ish per barrel, gold traded around $808.20ish and JPY traded around 108.25ish. Nikkei futures was closed at 12650 in CME compared to the close of 12630 here yesteday.
Kospi may open at around yesterday's closing price and may move within the same range as the yesterday. Government's attempt to curb the weakening Won may help and give hopes for investors to buy into the stock markets. However, if regional market sentiment is still weak, Kospi may be pressurized further. Bargain hunting may kick in and help to give market some ray of hope and may cause high volatility in the market. Kospi may find its support at 182ish and its resistance at 187ish today.
Hangseng may open at around yesterday's closing price but it may change if regional markets move in a drastic way whether it's up or down. With Hangseng being battered badly yesteday, some technical rebound may happen in early trade. Bargain hunters may kick in and try to get cheap stocks as oil stayed below $110 per barrel. However, weak market sentiment from US and other markets such as China may limit Hangseng's rally today. Hangseng may find its support at its year's lowest point of 20300ish and its resistance at 20800ish.
Rabu, 03 September 2008
Asian market preview 03/09/2008
US markets erased sharp gains in early trade to close moderately lower last night. Oil prices became the main reason for markets' activity for last night's trade where crude oil fell to as low as $105.46 per barrel. However, the positive impact from the falling oil was short-lived on stocks as commodity producers and more worries in housing and financial sector weighed on the overall market. There is a high level of uncertainty in the market which caused high volatility like we saw the past few months. ISM said its index on manufacturing activity fell to 49.9 in August from 50 in July as expected. Crude oil ended the day falling $5.75 to settle at $109.71 per barrel as fears of new storm brewing. Financials and airlines led the markets higher last night while tech sector was dragging the overall market. The Dow ended down by 26.63 pts or 0.23% to 11,516.92, S&P500 fell 5.25 pts or 0.41% to 1,277.58 while Nasdaq fell 18.28 pts or 0.77% to 2,349.24.
Asian markets may open around yesterday's closing numbers today following the weak close on Wall St. However, markets sentiment around the region may be positive today as oil prices fell by a quite a large amount and was traded below $110 since April. The cheaper oil eased inflationary concerns around the region but more uncertainties regarding the whole global economy may also drag the markets down today. Oil was recently traded around $110.20ish per barrel, gold traded around $809.40ish and JPY traded around 108.68ish. Nikkei futures was closed at 12680 in CME last night compared to the close of 12755 here yesterday.
Kospi may open rather flat with higher bias in early trade today as falling crude oil may spur some buying interests for investors. However, the continued decline in the Won currency may still weigh on the market unless the government really going to do something about it. Bargain hunters may kick in as the market have been badly battered for the past few weeks. Volatility may be high as the market try to grapple with positive news of falling energy prices and the negative news of the overall economic stability. Kospi may find its support at 180 today and its resistance at 186ish.
Hangseng may open higher today on lower oil price cues and may extend yesterday's rally. The continued decline in oil prices may help the market as it gave some hope to investors that inflation problem is easing slowly. However, as there are more storms to come in the US, oil may creep back up and may weigh on the market yet again. China markets may play a part in determining how well Hangseng market may perform today. Hangseng may find its support at 20800ish and its resistance at 21400ish today.
Asian markets may open around yesterday's closing numbers today following the weak close on Wall St. However, markets sentiment around the region may be positive today as oil prices fell by a quite a large amount and was traded below $110 since April. The cheaper oil eased inflationary concerns around the region but more uncertainties regarding the whole global economy may also drag the markets down today. Oil was recently traded around $110.20ish per barrel, gold traded around $809.40ish and JPY traded around 108.68ish. Nikkei futures was closed at 12680 in CME last night compared to the close of 12755 here yesterday.
Kospi may open rather flat with higher bias in early trade today as falling crude oil may spur some buying interests for investors. However, the continued decline in the Won currency may still weigh on the market unless the government really going to do something about it. Bargain hunters may kick in as the market have been badly battered for the past few weeks. Volatility may be high as the market try to grapple with positive news of falling energy prices and the negative news of the overall economic stability. Kospi may find its support at 180 today and its resistance at 186ish.
Hangseng may open higher today on lower oil price cues and may extend yesterday's rally. The continued decline in oil prices may help the market as it gave some hope to investors that inflation problem is easing slowly. However, as there are more storms to come in the US, oil may creep back up and may weigh on the market yet again. China markets may play a part in determining how well Hangseng market may perform today. Hangseng may find its support at 20800ish and its resistance at 21400ish today.
Selasa, 02 September 2008
Asian market preview 02/09/2008
US markets were closed for labor day holiday last night. All eyes were on hurricane Gustav though and crude oil was being traded electronically in Nymex in a special trading session. Crude oil prices tumbled $4.34 to $111.12 per barrel in late afternoon electronic trading as hurricane Gustav weakened along the Gulf Coast and posed less of a threat to oil drilling and refining operations. Dow futures was recently traded around 11567.
Asian markets may open rather flat today as lack of cues from the US markets may prevent investors to bet too heavily at the start. However, markets around the region may rise today as the markets have tumbled significantly yesterday. The drop in oil prices may also help boost the overall market in the region as it gave some hope for investors. Crude oil was recently traded around $111.22ish per barrel, gold traded around $823.50ish and JPY traded around 108ish. Nikkei futures was closed in CME last night and was closed at 12835 here yesterday.
Kospi may open around yesterday's closing price and it may get a technical rebound today after tumbling more than 4% yesterday. Kospi may try to get towards 188ish region today if bargain hunters sees this as an opportunity to get into the battered market. However, the continuing slump in the country's currency may prevent the increase to be sustainable. Foreigners may also play a part in determining whether Kospi is set to rebound or will it continue its slide today. Kospi may find its support at 180ish today with its strong resistance at 188ish.
Hangseng may open around the same price as yesterday's close but with a higher note on a rebound course. Lower oil prices may give some hope for investors and may boost oil-sensitive stocks such as airlines. However, with lack of news from the US and investors are still anticipating more bad news this week, gains are seen to be quite limited today. Hangseng may try the 21000 level again and if it managed to do that, it may find strong resistance at 21200 today and its support at 20600.
Asian markets may open rather flat today as lack of cues from the US markets may prevent investors to bet too heavily at the start. However, markets around the region may rise today as the markets have tumbled significantly yesterday. The drop in oil prices may also help boost the overall market in the region as it gave some hope for investors. Crude oil was recently traded around $111.22ish per barrel, gold traded around $823.50ish and JPY traded around 108ish. Nikkei futures was closed in CME last night and was closed at 12835 here yesterday.
Kospi may open around yesterday's closing price and it may get a technical rebound today after tumbling more than 4% yesterday. Kospi may try to get towards 188ish region today if bargain hunters sees this as an opportunity to get into the battered market. However, the continuing slump in the country's currency may prevent the increase to be sustainable. Foreigners may also play a part in determining whether Kospi is set to rebound or will it continue its slide today. Kospi may find its support at 180ish today with its strong resistance at 188ish.
Hangseng may open around the same price as yesterday's close but with a higher note on a rebound course. Lower oil prices may give some hope for investors and may boost oil-sensitive stocks such as airlines. However, with lack of news from the US and investors are still anticipating more bad news this week, gains are seen to be quite limited today. Hangseng may try the 21000 level again and if it managed to do that, it may find strong resistance at 21200 today and its support at 20600.
Senin, 01 September 2008
Asian market preview 01/09/2008
US markets tumbled on Friday after the government said that personal incomes fell last month by the largest amount in 3 years while consumer spending slowed. Disappointing report from Dell Inc. also weighed on Nasdaq. Commerce Department reported that personal incomes fell by 0.7% in July, more than the 0.1% predicted by analysts. Consumer spending also rose modestly by 0.2% compared to the 0.6% increase seen in June. There are also better report for Chicago Purchasing Managers Index where it jumped to 57.9 from 50.8 in July. However, the bad report in personal incomes and consumer spending, also the high oil prices due to fears of hurricane Gustav weighed on the markets more. Traditionally, September is believed to be a weak month for stock markets as analysts believed. Nymex electronic trading is available on Sunday in a special session as hurricane Gustav approaches. Analysts believe that Gustav may be worst than Katrina and crude oil price rose $2.21 to $117.37 per barrel as of 3:27 PM New York time. The Dow ended lower by 171.63 pts or 1.47% to 11,543.55, S&P500 fell 17.85 pts or 1.37% to 1,282.83 while Nasdaq fell 44.12 pts or 1.83% to 2,367.52.
Asian markets may open lower today following more bad news from the US and also after the markets plunged on Friday. The weak personal incomes and consumer spending numbers from the US still indicated that the US' economy is still weak and a lot of work still needs to be done. Higher oil prices as Gustav approached closer to the gulf of mexico may also hurt oil sensitive stocks and may affect the overall market around the region. Crude oil was recently traded around $116.70 per barrel, gold traded around $835.20ish and JPY traded around 108.20ish. Nikkei futures was closed at 12950 in CME compared to the close of 13035 here on Friday.
Kospi may open lower again and may go further lower after it was closed at its lowest point for this year on Friday. Foreigners may still be net sellers and local investors may also dump more stocks today as confidence is growing thin for Kospi market. Fears of higher oil prices may also weigh on market as higher oil means higher inflation for the country. Kospi may open around 187-188 and may go down further towards the 185 level. It may find resistance at 191ish today and support at around 185ish.
Hangseng may open lower today after it gained grounds on Friday after positive news on US data. However, as US data showed more weakness in the economy, Hangseng may fall again today. Hangseng may open at around 21100ish and may fall to below 21000 again today. It may find support at 20800 and resistance at 21300 today. China mainland markets may also play a part in today's session as volatility may be high too today with oil prices may be in focus for oil sensitive stocks.
Asian markets may open lower today following more bad news from the US and also after the markets plunged on Friday. The weak personal incomes and consumer spending numbers from the US still indicated that the US' economy is still weak and a lot of work still needs to be done. Higher oil prices as Gustav approached closer to the gulf of mexico may also hurt oil sensitive stocks and may affect the overall market around the region. Crude oil was recently traded around $116.70 per barrel, gold traded around $835.20ish and JPY traded around 108.20ish. Nikkei futures was closed at 12950 in CME compared to the close of 13035 here on Friday.
Kospi may open lower again and may go further lower after it was closed at its lowest point for this year on Friday. Foreigners may still be net sellers and local investors may also dump more stocks today as confidence is growing thin for Kospi market. Fears of higher oil prices may also weigh on market as higher oil means higher inflation for the country. Kospi may open around 187-188 and may go down further towards the 185 level. It may find resistance at 191ish today and support at around 185ish.
Hangseng may open lower today after it gained grounds on Friday after positive news on US data. However, as US data showed more weakness in the economy, Hangseng may fall again today. Hangseng may open at around 21100ish and may fall to below 21000 again today. It may find support at 20800 and resistance at 21300 today. China mainland markets may also play a part in today's session as volatility may be high too today with oil prices may be in focus for oil sensitive stocks.
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