US markets fell on Friday, to end the week in the red after rallying in the beginning of the week. Markets fell as profit warning from JC Penney raised concerns about slowing consumer spending while more analysts' warning made financial stocks tumble as well. More dividend cuts and a forecast of further 25% drop in banking shares really hurt financial sector. CPI data which only showed a small increase in prices, which means that inflation is not really a concern for the markets, did not help much for the decline on Friday in a rather thin trading session. The Dow fell 86.06 pts or 0.70% to 12216.40, S&P500 fell 10.54 pts or 0.8% to 1315.22 while Nasdaq fell 19.65 pts or 0.86% to 2261.18. More bad news are expected this week in the labor department on unemployment data and also on manufacturing data. Analysts predict markets may fall further if the unemployment rate hit 5%.
Asian markets may take a breather today after huge rally last week following the tumble in Wall St on Friday. Markets may open lower today and may extend losses on concerns about US economic slowdown and if investors want to sit out and wait for more news to come out of the US. However, more window dressing action may take place if investors still think that they want to collect stocks and make their companies' report look nice. Crude oil was recently traded around $104ish per barrel, gold traded around $926.50ish and JPY rose against US$ to 99ish. Nikkei futures closed at 12700 on CME compared to the close of 12855 here on Friday.
The Kospi may start the day lower around 217ish and may fall further on global economic concerns and if investors want to enjoy little bit of profit in the midst of uncertain times. Conflict with N.Korea may cause the Kospi to fall further today if investors are concerns that the conflict will spread bigger. Some late window dressing action may take place and prevent the market to sink too much if there are more window dressing actions.
Hangseng may start the day lower today after rallying for the past 5 sessions. It may start around 23000ish and may fall further below 23000 today if investors decide to enjoy some profit ahead of more news to come out of the US. Hangseng may rely on the mainland stocks to take direction in these uncertain times.
Senin, 31 Maret 2008
Jumat, 28 Maret 2008
Asian market preview 28/03/2008
US markets fell for 2nd day overnight following the GDP and jobless claims data. Q4 2007 GDP was at 0.6%, in line with analysts' expectations but it showed that the economy has contracted so much compared to the 4.9% growth rate the previous quarter. Jobless claims has unexpectedly decreased by 9000 to 366000 but analysts believe that unemployment is expected to rise this year given the current economic conditions. Markets also fell as concern that profit growth will weaken for financials and technology companies. Oracle Corp. tumbled after its revenue trailed analysts' estimate and Google Inc. also slid after the search engine received fewer ad click. However, consumer spending in Q4 rose higher than expected to 2.3% and sales of US goods and services to other countries grew 6.5% due to declining dollar. The Dow fell 120.40 pts or 0.97% to 12302.46, S&P500 fell 15.37 or 1.15% to 1325.75 while Nasdaq tumbled 45.53 pts or 1.87% to 2280.83. Despite of the decline, there seems to be a different mindset among traders right now and people are buying on weakness as long as there is no other Bear Stearns out there.
Asian markets may start the day slightly lower today tracking the US decline overnight. However, many analysts believe that there might be Window dressing in session for today before the last day of March on Monday. Crude oil price rose again to above $107 overnight after a pipeline fire in Iraq cut supplies. Crude oil was recently traded around $107.30ish per barrel, gold was recently traded around $948.90ish and JPY traded around 99.60ish. Nikkei futures was closed at 12700 compared to the close of 12745 here yesterday.
The Kospi may start the day slightly lower around 214ish today following the decline in Wall St overnight. However, decline may be limited should foreign investors decided to come in and buy stocks in South Korea. US economic data was not as bad as predicted as the economy still grow but at a very small rate according to the GDP data and the downside trend may only be dominated by profit taking by nervous investors.
Hangseng may pullback at the open to around 22650ish for the new contract tracking the US markets overnight. There may be some profit taking to take place today after a series of strong gains for the past 3 days for Hangseng. If Hangseng can breach the 22800 level, it may even try and go towards 23000 today. There may be a chance that a window dressing session may take place too today before the end of March to make the shares look better.
Asian markets may start the day slightly lower today tracking the US decline overnight. However, many analysts believe that there might be Window dressing in session for today before the last day of March on Monday. Crude oil price rose again to above $107 overnight after a pipeline fire in Iraq cut supplies. Crude oil was recently traded around $107.30ish per barrel, gold was recently traded around $948.90ish and JPY traded around 99.60ish. Nikkei futures was closed at 12700 compared to the close of 12745 here yesterday.
The Kospi may start the day slightly lower around 214ish today following the decline in Wall St overnight. However, decline may be limited should foreign investors decided to come in and buy stocks in South Korea. US economic data was not as bad as predicted as the economy still grow but at a very small rate according to the GDP data and the downside trend may only be dominated by profit taking by nervous investors.
Hangseng may pullback at the open to around 22650ish for the new contract tracking the US markets overnight. There may be some profit taking to take place today after a series of strong gains for the past 3 days for Hangseng. If Hangseng can breach the 22800 level, it may even try and go towards 23000 today. There may be a chance that a window dressing session may take place too today before the end of March to make the shares look better.
Kamis, 27 Maret 2008
Asian market preview 27/03/2008
US markets fell for 1st time in 4 days overnight after an unexpected drop in durable goods order injected another pessimism into the market. The data indicated that consumer demands and business spending are declining for 2 straight months and it's worrisome for Wall St. Durable goods order fell 1.7% and New home sales also fell 1.8% to a 13-year low. The financial sectors also dragged down the markets after Oppenheimer & Co. analyst Meredith Whitney lowered her 1st quarter profit forecasts for the nation's top 4 commercial banks. The Dow fell 109.74 pts or 0.88% to 12422.86, S&P500 fell 11.86 pts or 0.88% to 1341.13 while Nasdaq dipped 16.69 or 0.71% to 2324.36. Considering recent rally for the markets, a pullback like this is not as bad as in recent weeks as markets are working hard to find their bottoms.
Asian markets may start the day lower for the 1st time in 4 days today following the new concerns regarding the US economy. The weakening US$ and also the rise in crude oil may drag down the markets further today. Crude oil soared after US inventory was lower than expected last week and was recently traded around $106.20ish per barrel. Gold was recently traded around $953.90ish and JPY traded around 98.90ish. Nikkei futures in CME was closed at 12590 compared to the close of 12670 here yesterday.
The Kospi may start the day lower around 214.50ish today and may fall further on concerns about the US economy which is South Korea's main export destination. Profit taking may also domminate the market after recent few sessions of rallies. However, the decline may not be as bad as Kospi's recent runs were not very huge and its climbing steadily.
Hangseng may start the day lower for the 1st time since Monday today at around 22450ish for old contract and 22400ish for new contract. It may fall further on US economic concerns and also China's ever declining markets. Hangseng has a support around 22200 and if it breached that, it may try and run towards the 22000 level and may go even lower. Profit taking may dominate the market today and that may cause quite a high volatility.
Asian markets may start the day lower for the 1st time in 4 days today following the new concerns regarding the US economy. The weakening US$ and also the rise in crude oil may drag down the markets further today. Crude oil soared after US inventory was lower than expected last week and was recently traded around $106.20ish per barrel. Gold was recently traded around $953.90ish and JPY traded around 98.90ish. Nikkei futures in CME was closed at 12590 compared to the close of 12670 here yesterday.
The Kospi may start the day lower around 214.50ish today and may fall further on concerns about the US economy which is South Korea's main export destination. Profit taking may also domminate the market after recent few sessions of rallies. However, the decline may not be as bad as Kospi's recent runs were not very huge and its climbing steadily.
Hangseng may start the day lower for the 1st time since Monday today at around 22450ish for old contract and 22400ish for new contract. It may fall further on US economic concerns and also China's ever declining markets. Hangseng has a support around 22200 and if it breached that, it may try and run towards the 22000 level and may go even lower. Profit taking may dominate the market today and that may cause quite a high volatility.
Rabu, 26 Maret 2008
Asian market preview 26/03/2008
Most US stocks were closed higher on Wall St overnight after bad economic data in consumer confidence. The Conference Board Consumer Confidence Index plunged to 64.5 in March from a revised 76.4 in February and was at its lowest in 15 years. Markets did not plunge too deep after this news and it indicates that market are still nervous but then investors decided not to sell off equities but chose to wait on the sidelines instead. Housing prices also fell 11.4% in January, which was the steepest drop since the data was first collected in 1987. The Dow was closed lower 16.04 pts or 0.13% to 12532.60, S&P500 rose 3.11 pts or 0.23% to 1352.99 while Nasdaq rose 14.30 pts or 0.61% to 2341.05. Markets are still waiting for directions following the bad data but many actually believed that The Fed's move may be effective to prevent the economy to go deep into recession.
Asian markets may open up higher again today following the gains in most stocks on Wall St overnight. Commodity producers may help push markets higher today after being laggards for the past few sessions. However, gains may not be as much as the past few days and some profit taking may take place while markets are waiting for more solid data to move the markets. Crude oil rose again and was recently traded around $101.70ish per barrel, gold was traded around $938ish and JPY traded around 99.90ish. Nikkei futures was closed at 12810 in CME compared to the close of 12750 here yesterday.
The Kospi may open higher again today around 216ish. It's a long shot to go up until 220 but it may play around 218ish today. Market may not rally as much as the previous few sessions but seeing Kospi, it may rise steadily like it did yesterday and Monday. Profit taking may take place too should investors decided to try and play it safe.
Hangseng may open higher again today around 22600ish and may even try to go up until 23000ish today. There may be more volatility today compared to yesterday's steady climb upwards as some investors may go into profit taking mode. Wait and see mode may be in play today by investors.
Asian markets may open up higher again today following the gains in most stocks on Wall St overnight. Commodity producers may help push markets higher today after being laggards for the past few sessions. However, gains may not be as much as the past few days and some profit taking may take place while markets are waiting for more solid data to move the markets. Crude oil rose again and was recently traded around $101.70ish per barrel, gold was traded around $938ish and JPY traded around 99.90ish. Nikkei futures was closed at 12810 in CME compared to the close of 12750 here yesterday.
The Kospi may open higher again today around 216ish. It's a long shot to go up until 220 but it may play around 218ish today. Market may not rally as much as the previous few sessions but seeing Kospi, it may rise steadily like it did yesterday and Monday. Profit taking may take place too should investors decided to try and play it safe.
Hangseng may open higher again today around 22600ish and may even try to go up until 23000ish today. There may be more volatility today compared to yesterday's steady climb upwards as some investors may go into profit taking mode. Wait and see mode may be in play today by investors.
Selasa, 25 Maret 2008
Asian market preview 25/03/2008
US markets posted another gain overnight after JP Morgan said that they would revise their bid for Bear Stearns to $10 a share. Investors are pleased by JP Morgan's action and that caused stocks to rally. Another reason for the rally was a better-than-expected existing home sales data, which rose in February rather than decline as expected by most analysts. The data showed a first increase for existing home sales in 7 months and may indicates that the market is nearing its bottom. The Dow rallied 187.32 pts or 1.52% to 12548.64, S&P500 rose 20.37 pts or 1.53% to 1349.88 while Nasdaq soared 68.64 pts or 3.04% to 2326.75.
Asian markets may start the day higher again today following the better-than-expected data came out of the US. Commodity prices went lower again last night but mostly they're stable now unlike last week. Crude oil was recently traded around $100.25ish per barrel, gold traded around $912.60ish and JPY traded around 100.35ish. Nikkei futures closed at 12700 in CME compared to the close of 12460 here yesterday.
The Kospi may start the day higher around 216ish and it may go and test the 220 level if investors' optimism are high enough. However, it most likely will play up to around 218ish. Technology sectors may play a big part in the market rally again today and also the optimism that there's some bottom to the credit crisis.
Hangseng may open higher today after tumbling and closed below 21000 last week. Reversal tend to happen and Hangseng may test the 22000 level again today. However, there may be some limit to the gains as a renewed concerns about inflation in the country and also the ever growing pressure from China to contain their inflation problem. Some analysts in the US also believe that the market turmoil is not over yet and this is just a temporary upside before the bear markets start to go back down again.
Asian markets may start the day higher again today following the better-than-expected data came out of the US. Commodity prices went lower again last night but mostly they're stable now unlike last week. Crude oil was recently traded around $100.25ish per barrel, gold traded around $912.60ish and JPY traded around 100.35ish. Nikkei futures closed at 12700 in CME compared to the close of 12460 here yesterday.
The Kospi may start the day higher around 216ish and it may go and test the 220 level if investors' optimism are high enough. However, it most likely will play up to around 218ish. Technology sectors may play a big part in the market rally again today and also the optimism that there's some bottom to the credit crisis.
Hangseng may open higher today after tumbling and closed below 21000 last week. Reversal tend to happen and Hangseng may test the 22000 level again today. However, there may be some limit to the gains as a renewed concerns about inflation in the country and also the ever growing pressure from China to contain their inflation problem. Some analysts in the US also believe that the market turmoil is not over yet and this is just a temporary upside before the bear markets start to go back down again.
Senin, 24 Maret 2008
Asian market preview 24/03/2008
US markets were closed on Friday for Good Friday holidays and it had closed higher for the past week after The Fed cut the interest rate by 75 bps. In the coming week however, more economic data will be coming out of the US which will determine how deteriorated the economy really is. New home sales and existing home sales data is predicted to continue to falter, while consumer spending may drop to its lowest survey showed.
Asian markets today may open flat from Friday's close and it may continue its rally from last week. The rally however, may not go very high as investors may start to focus on the US economic data due out later this week. Commodity prices continue to slide to close at the lowest at the end of last week. Recently, crude oil was traded around $100.93ish per barrel, gold traded at $913.50ish and JPY traded at 99.50ish. Nikkei futures was closed in CME on Friday and was closed at 12365 here.
The Kospi may edge up higher again today to continue last week's rally. There are also chances that investors may cash in profit too ahead of US economic data due out later on this week. Overall, Kospi may start this week in the green.
Hangseng is still closed for Easter Holidays.
Asian markets today may open flat from Friday's close and it may continue its rally from last week. The rally however, may not go very high as investors may start to focus on the US economic data due out later this week. Commodity prices continue to slide to close at the lowest at the end of last week. Recently, crude oil was traded around $100.93ish per barrel, gold traded at $913.50ish and JPY traded at 99.50ish. Nikkei futures was closed in CME on Friday and was closed at 12365 here.
The Kospi may edge up higher again today to continue last week's rally. There are also chances that investors may cash in profit too ahead of US economic data due out later on this week. Overall, Kospi may start this week in the green.
Hangseng is still closed for Easter Holidays.
Jumat, 21 Maret 2008
Asian market preview 21/03/2008
US markets were closed higher overnight after bargain hunters kicked in and a milder-than-expected drop in a regional manufacturing report helped to boost stocks on Thursday. Economic readings on Thursday sent mixed signals; the labor department said that the number of jobless claims rose to the highest in 2 months while Conference Board said that its index of leading economic indicators fell, as expected for fifth month. The less than expected drop in manufacturing gave a reason for Wall St to buy back into stocks after sharp declines the day before. The plunge in commodity prices also gave investors some hope that lower prices may ease inflation concerns. There are speculations that the worst is behind us and that The Fed's move may proved to be effective. The Dow rose 261.66 pts or 2.16% to 12361.32, S&P500 rose 31.09 pts or 2.39% to 1329.51 while Nasdaq rose 48.15 pts or 2.18% to 2258.11.
Asian markets may open higher today following the renewed optimism in the US and the rally posted on Wall St last night. The drop in commodity prices may help the market today as more money may be used by investors to buy back into stocks. Lower commodity prices may also ease inflation concerns in the region. Crude oil was recently traded at 101.84ish per barrel, gold traded around $909.60ish and JPY traded around 99ish. Nikkei futures closed at 12280 in CME overnight compared to the close of 12085 here on Wednesday.
The Kospi may open higher today and may go beyond the 210 level today. The US rally overnight may pace the gains and also lower oil prices may boost airlines stocks higher. Bargain hunting may buy back stocks but also there maybe still some nervousness in the market which may create high volatilities in the market today.
Hangseng market is closed for holiday today.
Asian markets may open higher today following the renewed optimism in the US and the rally posted on Wall St last night. The drop in commodity prices may help the market today as more money may be used by investors to buy back into stocks. Lower commodity prices may also ease inflation concerns in the region. Crude oil was recently traded at 101.84ish per barrel, gold traded around $909.60ish and JPY traded around 99ish. Nikkei futures closed at 12280 in CME overnight compared to the close of 12085 here on Wednesday.
The Kospi may open higher today and may go beyond the 210 level today. The US rally overnight may pace the gains and also lower oil prices may boost airlines stocks higher. Bargain hunting may buy back stocks but also there maybe still some nervousness in the market which may create high volatilities in the market today.
Hangseng market is closed for holiday today.
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