US markets fell mildly overnight after a lower-than-expected reading on the consumer confidence released by the Conference Board. Consumer confidence dropped to 62.3 from 65.9 a month before. Housing price also continue to slide this month and analysts believe that prices will continue to slide until the end of next year. Oil, gold and copper prices also tumbled the most in 5 weeks overnight and these also cause market to go lower. However, with all the negative economic news, markets are unexpectedly calm and they did not go into panic mode. Investors believe that the worst is over and they're waiting anxiously about what The Fed might do at the end of their 2-day meeting today. Lower commodity prices is one of the reason markets did not tumble too deep. The Dow ended lower by 39.81 pts or 0.31% to 12831.94 with Merck as the biggest drag, declining $4.30 or 10.4% to $37.14 after Food and Drug Administration refused to approve new cholestrol drug. S&P500 fell 5.43 pts or 0.39% to 1390.94 while Nasdaq rose 1.70 pts or 0.07% to 2426.10
Asian markets may open quite flat with downside bias today following the weak close in the US and ahead of The Fed's rate decision. Profit taking may take place today as investors do not want to bet too much before The Fed's decision and also ahead of more economic news from the US such as Q1 GDP. Mining companies may be the biggest drag today with metal prices dipped quite a lot overnight and oil producers also may decline today with oil prices tumbled more than $3. Crude oil was recently traded around $115.60ish per barrel, gold traded at $871.30ish and JPY traded at around 104ish. Nikkei futures closed at 13890 at CME compared to the close of 13965 here on Monday.
Kospi may open lower around 234 and may extend its decline from yesterday ahead of The Fed's rate decision today. Mining and oil producers may lead the decline as prices tumbled overnight. Market volatility may be high as investors may try to take profit ahead of the national holiday on Thursday. However, market may not go down too deep as lower commodity prices also bring some calm to the inflationary condition in the country.
With Hangseng's old contract expired yesterday, a new Hangseng contract may open around 25700ish with a downside bias today tracking the weak US markets. However, with good earnings season from China, it's also possible for Hangseng to rise and go beyond 26000 today. Banking and financial sectors maybe in focus again with ICBC posting a 77% jump in profit. Volatility may be high today with investors may want to take profit ahead of The Fed's rate decision and also a national holiday on Thursday.
Rabu, 30 April 2008
Selasa, 29 April 2008
Asian market preview 29/04/2008
US markets were closed mixed but with most stocks gained some grounds ahead of The Fed's 2 days policy meeting, which starts on Tuesday. Most stocks were up after major M&A actions were made by Mars Inc. to acquire Wrigley Jr. Co. and billionaire Kirk Kerkorian plans to make an offer that would expand his stake at Ford Motor Co. to 5.6%, saying he sees signs the automaker's turnaround plan is working. Investors saw that the dealmaking as an encouraging signs that companies are still willing to make M&A happen. However, investors are holding their breath ahead of The Fed's decision where most investors are betting on another quarter point cut. The Dow ended down 20.11 pts or 0.16% to 12871.75, S&P500 slipped 1.47 pts or 0.11% to 1396.37 while Nasdaq rose 1.47 pts or 0.06% to 2424.40.
Asian markets may open rather flat with an upward bias today after more optimism were poured into the US markets and after some analysts encourage investors to buy into stocks. However, investors may not want to bet too much into the market ahead of The Fed's 2 day policy meeting. Crude oil rose to almost $120 and was recently traded around $118.70ish per barrel, gold traded around $891.50ish and JPY traded around 104.20ish. Nikkei futures was closed at 14015 in CME overnight compared to the close of 13965 here yesterday. Nikkei is closed for a public holiday today.
Kospi may open rather flat at around 236ish today. It may rise further towards the 238ish level but investors may not want to bet too much on the market and may want to enjoy some profit after the market has gained quite a lot the past 2 weeks. Volatility in the market may be high and news from South Korea itself may be moving the market.
Hangseng's April contract is expiring today and the new May contract has started trade since yesterday. Hangseng's old contract may open around 25600 and new contract around 25500. Hangseng may watch closely on the Chinese markets for directions today as US markets turned slightly cautious ahead of The Fed's meeting. Profit taking may be in session today as futures contract is expiring. If Hangseng(New) able to breach 25700, it may try to go towards 25900ish or even 26000. However, if Hangseng fall towards 25300ish, it may find support around 25200.
Asian markets may open rather flat with an upward bias today after more optimism were poured into the US markets and after some analysts encourage investors to buy into stocks. However, investors may not want to bet too much into the market ahead of The Fed's 2 day policy meeting. Crude oil rose to almost $120 and was recently traded around $118.70ish per barrel, gold traded around $891.50ish and JPY traded around 104.20ish. Nikkei futures was closed at 14015 in CME overnight compared to the close of 13965 here yesterday. Nikkei is closed for a public holiday today.
Kospi may open rather flat at around 236ish today. It may rise further towards the 238ish level but investors may not want to bet too much on the market and may want to enjoy some profit after the market has gained quite a lot the past 2 weeks. Volatility in the market may be high and news from South Korea itself may be moving the market.
Hangseng's April contract is expiring today and the new May contract has started trade since yesterday. Hangseng's old contract may open around 25600 and new contract around 25500. Hangseng may watch closely on the Chinese markets for directions today as US markets turned slightly cautious ahead of The Fed's meeting. Profit taking may be in session today as futures contract is expiring. If Hangseng(New) able to breach 25700, it may try to go towards 25900ish or even 26000. However, if Hangseng fall towards 25300ish, it may find support around 25200.
Sabtu, 26 April 2008
Asian market preview 28/04/2008
US markets were closed stronger and posted a back to back weekly gains on Friday after overcoming economic worries from the consumer sentiment index and the spike in oil prices. Investors saw that first quarter's earnings are not so bad and the financials sector is doing better than previously anticipated. Earlier in the day, University of Michigan released its reading of consumer sentiment index at 62.6 for April, which is the lowest since early 1980s. Microsoft's earnings was softer than anticipated but neither the sentiment index nor microsoft's weak earnings can make investors worry too much. They believe that the global and US' business activity remains strong despite the much anticipated recession fears. The Dow ended up 42.91 pts or 0.33% to 12891.86, S&P500 rose 9.02 pts or 0.65% to 1397.84 while Nasdaq fell 5.99 pts or 0.25% to 2422.93. More earnings to come out next week from food producers such as Kellogg Co., Kraft Foods Inc. and Burger King Holdings Inc. and also from consumer goods producer such as P&G Co. The Fed's rate decision also to come next week and more economic data is to be announced for investors to gauge the health of US economy.
Asian markets may open higher again today, extending the rally from last week after investors have gained more confidence in the US markets over the state of the country's economic condition. People have started to pour more money into stock markets again now and hopefully this will last longer than just a mere technical rebound. However, with the ever rising oil prices and other commodity prices, inflation problems is looming bigger than ever before and this may make investors feel more nervous regarding the economic health globally. Oil rose again on Friday and was recently traded around $119.40ish per barrel, gold traded around $890.15ish and JPY traded around 104.40ish. Nikkei futures closed at 14025 in CME on Friday compared to the close of 13905 here on Friday.
Kospi may open higher today at around 238.50 and may even test the 240 level today should the investors feeling more confident regarding the overall economic conditions. However, please also note that volatility in the merket may be high caused by some investors who want to enjoy some profit while they're winning. Market may lose some steam if there are no other positive sentiment to come out of the country itself.
Hangseng may open higher again today around 25800-25900ish today and may even test the 26000 level if regional market would support its rally. Chinese market may be the main driver again for Hangseng and if the investors believe that the Chinese government will do something else to boost the Chinese markets, I believe that Hangseng will run up again this week. Hangseng have rallied quite a lot the past 2 weeks and global market conditions seem to be giving more encouragement for Hangseng to run up further. If Hangseng able to breach 26000, it may find resistance at around 26200 and if Hangseng should fall, it may find its support at 25500.
Asian markets may open higher again today, extending the rally from last week after investors have gained more confidence in the US markets over the state of the country's economic condition. People have started to pour more money into stock markets again now and hopefully this will last longer than just a mere technical rebound. However, with the ever rising oil prices and other commodity prices, inflation problems is looming bigger than ever before and this may make investors feel more nervous regarding the economic health globally. Oil rose again on Friday and was recently traded around $119.40ish per barrel, gold traded around $890.15ish and JPY traded around 104.40ish. Nikkei futures closed at 14025 in CME on Friday compared to the close of 13905 here on Friday.
Kospi may open higher today at around 238.50 and may even test the 240 level today should the investors feeling more confident regarding the overall economic conditions. However, please also note that volatility in the merket may be high caused by some investors who want to enjoy some profit while they're winning. Market may lose some steam if there are no other positive sentiment to come out of the country itself.
Hangseng may open higher again today around 25800-25900ish today and may even test the 26000 level if regional market would support its rally. Chinese market may be the main driver again for Hangseng and if the investors believe that the Chinese government will do something else to boost the Chinese markets, I believe that Hangseng will run up again this week. Hangseng have rallied quite a lot the past 2 weeks and global market conditions seem to be giving more encouragement for Hangseng to run up further. If Hangseng able to breach 26000, it may find resistance at around 26200 and if Hangseng should fall, it may find its support at 25500.
Jumat, 25 April 2008
Asian market preview 25/04/2008
US markets closed higher for second day last night after a surprise profit announced by Ford and after Merril Lynch said that they still have enough capital to maintain dividend. Retailers such as Macy Inc and Target Corp. rose after Dollar rebounded against the euro and after oil fell the most in a month. Markets initially fell after new home sales declined to the lowest since October 1991 but rebounded with good earnings report and financials got a boost. Initial claims unexpectedly drop and durable goods order jumped up exceeding expectations. All these data gave new speculations that the worst is actually behind us. The Dow ended higher by 85.73 pts or 0.67% to 12848.95, S&P500 rose 8.89 pts or 0.64% to 1388.82 while Nasdaq advanced 23.71 pts or 0.99% to 2428.92.
Asian markets may open higher in the last trading day of the week following the stronger-than-expected US data and earnings. However, investors may start to lock in profit today after a few days of gains this week. Oil prices fell the most and was recently traded around $115.90ish per barrel, gold traded around $885.25ish and JPY traded around 114.20ish. Nikkei futures closed closed at 13755 in CME compared to the close of 13450 here yesterday.
Kospi market may open higher again today at around 234ish and it may try to go towards 235 level today following the good US data overnight. Market may be volatile as investors may start to lock in profit going into the weekend. Strong market sentiment is there with the decline in oil and the rebound for US$.
Hangseng may open higher again today at around 25800 and it may test the 26000 level today following the strong close in Wall St overnight. China mainland market may still be in focus again after yesterday's huge rally of almost 10%. China markets may extend rally, but profit taking may also take place for investors as Hangseng have risen quite a lot the past week. If Hangseng able to breach 26000 level, it may try and go towards 26300 and if it fall, it may stay around 25400.
Asian markets may open higher in the last trading day of the week following the stronger-than-expected US data and earnings. However, investors may start to lock in profit today after a few days of gains this week. Oil prices fell the most and was recently traded around $115.90ish per barrel, gold traded around $885.25ish and JPY traded around 114.20ish. Nikkei futures closed closed at 13755 in CME compared to the close of 13450 here yesterday.
Kospi market may open higher again today at around 234ish and it may try to go towards 235 level today following the good US data overnight. Market may be volatile as investors may start to lock in profit going into the weekend. Strong market sentiment is there with the decline in oil and the rebound for US$.
Hangseng may open higher again today at around 25800 and it may test the 26000 level today following the strong close in Wall St overnight. China mainland market may still be in focus again after yesterday's huge rally of almost 10%. China markets may extend rally, but profit taking may also take place for investors as Hangseng have risen quite a lot the past week. If Hangseng able to breach 26000 level, it may try and go towards 26300 and if it fall, it may stay around 25400.
Kamis, 24 April 2008
Asian market preview 24/04/2008
US markets closed mildly higher overnight following the better-than-expected earnings from Boeing Co., technology and tobacco companies. These earnings and forecasts overshadowed the declines in financials sector. Energy producers also decline after oil dropped from its record highs set a day before to $117ish before rebounding back up again in the session. Lower metal prices did send mining companies down in the session and drag the markets towards negative territory. Analysts believe that the market will move in a seesaw manner with high volatilities during the rest of the earnings season. Insurance company, Liberty Mutual's plans to acquire another company, Safeco also pleased investors. The Dow rose 42.99 pts or 0.34% to 12763.22, S&P500 rose 3.99 pts or 0.29% to 1379.33 while Nasdaq climbed 28.27 pts or 1.19% to 2405.21.
Asian markets may open higher again today following a more stable earnings for the US markets overnight and a more stabilized oil prices and declining gold prices. Chinese markets may rally today after the US government cut trading tax from 0.3% to 0.1% overnight to boost the world's second worst performance market this year. Oil prices fell from its highest price and was recently traded around $118ish per barrel, gold traded around $904ish and JPY traded around 103.40ish. Nikkei futures was closed at 13670 in CME compared to the close of 13530 here yesterday.
Kospi may open higher again today at around 233ish and may try to get to the 235 level today depending on how good the performance over in the South Korean market today. Technology shares may get a boost from a better earnings in the US which indicates strong demands are still there for the tech sector.
Hangseng may open higher today and may extend rally from yesterday. Hangseng may open around 25400ish level and if it can breach the 24500 level, it may go higher towards 25800 level today and even 26000 level may be tried today. Hong Kong market may be boosted from the Chinese mainland markets which may be boosted from the trading tax cuts imposed by the US government. If Hangseng decided to fall, it may find support at 25200.
Asian markets may open higher again today following a more stable earnings for the US markets overnight and a more stabilized oil prices and declining gold prices. Chinese markets may rally today after the US government cut trading tax from 0.3% to 0.1% overnight to boost the world's second worst performance market this year. Oil prices fell from its highest price and was recently traded around $118ish per barrel, gold traded around $904ish and JPY traded around 103.40ish. Nikkei futures was closed at 13670 in CME compared to the close of 13530 here yesterday.
Kospi may open higher again today at around 233ish and may try to get to the 235 level today depending on how good the performance over in the South Korean market today. Technology shares may get a boost from a better earnings in the US which indicates strong demands are still there for the tech sector.
Hangseng may open higher today and may extend rally from yesterday. Hangseng may open around 25400ish level and if it can breach the 24500 level, it may go higher towards 25800 level today and even 26000 level may be tried today. Hong Kong market may be boosted from the Chinese mainland markets which may be boosted from the trading tax cuts imposed by the US government. If Hangseng decided to fall, it may find support at 25200.
Rabu, 23 April 2008
Asian market preview 23/04/2008
US markets fell overnight after earnings report and forecasts failed to impress investors and also concerns that high oil prices will add to inflation pressure. The company reporting earnings mostly met with analysts' expectation but their comments about future earnings made investors worry as economic slowdown looks likely, earnings will be hurt and companies lower their estimates. AT&T and Texas Instrument met analysts' estimates while McDonald's and DuPont exceed their estimates but comments from respective companies made investors nervous. More companies are to report earnings and the initial prospect of a stronger-than-expected earnings season more likely do not happen as some analysts predicted. Economic slowdown is going to hurt companies more than expected. The Dow fell 104.79 pts or 0.82% to 12720.23, S&P500 fell 12.23 pts or 0.88% to 1375.94 and Nasdaq fell 31.10 pts or 1.29% to 2376.94.
Asian markets may open lower today extending their losses from yesterday following the poor performance by the Dow. More worries by investors regarding the global economic outlook is going to play a major part in the markets movement. However, oil producers may be supporting the market after oil prices breached the $119 mark overnight. Oil was recently traded around $118.05ish, gold traded around $915.70ish and JPY traded around 102.80ish. Many companies may be hurt with high oil prices as inflation pressure may add to the concern to regional markets. Nikkei futures closed at 13520 in CME compared to the close of 13560 here yesterday.
Kospi may open lower again today around the 229-230ish level and it may go down further after concerns that earnings will not be as beautiful as expected in the US and recession may still be inevitable. However, judging from the past few days performance by Kospi, market may hold around 226ish and may go up to around 232ish.
Hangseng may open lower again today after a surprise surge in the 2nd session yesterday following the rebound made by China markets. Hangseng may open around 24800-24900ish level and may hold strong around 24600ish if it decided to go down. If it's able to break the 24500 level, it may go towards 24300 and if it can breach the 25000, it may go above towards 25200. Chinese markets may be in focus again today and after Hong Kong released a not-so-bad inflation data, market look to be quite strong to withstand the pressure from the US.
Asian markets may open lower today extending their losses from yesterday following the poor performance by the Dow. More worries by investors regarding the global economic outlook is going to play a major part in the markets movement. However, oil producers may be supporting the market after oil prices breached the $119 mark overnight. Oil was recently traded around $118.05ish, gold traded around $915.70ish and JPY traded around 102.80ish. Many companies may be hurt with high oil prices as inflation pressure may add to the concern to regional markets. Nikkei futures closed at 13520 in CME compared to the close of 13560 here yesterday.
Kospi may open lower again today around the 229-230ish level and it may go down further after concerns that earnings will not be as beautiful as expected in the US and recession may still be inevitable. However, judging from the past few days performance by Kospi, market may hold around 226ish and may go up to around 232ish.
Hangseng may open lower again today after a surprise surge in the 2nd session yesterday following the rebound made by China markets. Hangseng may open around 24800-24900ish level and may hold strong around 24600ish if it decided to go down. If it's able to break the 24500 level, it may go towards 24300 and if it can breach the 25000, it may go above towards 25200. Chinese markets may be in focus again today and after Hong Kong released a not-so-bad inflation data, market look to be quite strong to withstand the pressure from the US.
Selasa, 22 April 2008
Asian market preview 22/04/2008
US markets ended the session mixed following a disappointing results from Bank of America and National City Corp. and also after another record price set by oil. With the lack of economic data to come out this week, investors decided to cash in on their recent profit and sit on the sidelines, waiting for more corporate reports. Cautious mode is back in the markets and investors would choose to sell on news and they buy again on bargain prices. Analysts predicted that the markets may move in the tight range fluctuating up and down while investors evaluate the health of the economy. Merck, the largest pharmaceutical company reported better-than-forecast earnings last night after profits were nearly doubled. Apple Inc. helped boost Nasdaq overnight after analysts' lifted Apple's price target; Apple rose $7.12 or 4.4% to $168.16. The Dow lost 24.34 pts or 0.19% to 12825.02, S&P500 fell 2.16 pts or 0.16% to 1388.17 while Nasdaq rose 5.07 pts or 0.21% to 2408.04.
Asian markets may open rather flat today with a slight downside bias following another bad performance by financial sector over in Wall St last night. Investors may be cautious again following the report from US which indicated that the financial sector is still struggling. Rising oil prices may weigh on some stocks like airlines but may boost oil producers companies. Crude oil rose to a record last night and was recently traded around $117.50ish per barrel, gold traded around $915.50ish and JPY traded around 103.30ish. Nikkei futures closed at 13700 in CME overnight compared to the close of 13620 here yesterday.
Kospi may open rather flat around 231-232ish level today following the mixed close on Wall St overnight. Some selling pressure due to profit taking may take place today in the market but strong buy may still be there depending on the corporate news to come out of the country. Trading range may be small and volatility may be high today with investors selling and buying at bargain prices.
Hangseng may open around 24500-24600ish today and may have a profit taking session during the day. China's mainland markets may be in focus again to see if the rebound yesterday is going to last long. Some positiveness in the market is still there for Hangseng and market may move in a more volatile way today with energy shares and tech shares dominate the market. If market able to breach the 24900 mark, it may go towards 25000 and if market able to breach 24500 mark, it may go down towards 24300 level today.
Asian markets may open rather flat today with a slight downside bias following another bad performance by financial sector over in Wall St last night. Investors may be cautious again following the report from US which indicated that the financial sector is still struggling. Rising oil prices may weigh on some stocks like airlines but may boost oil producers companies. Crude oil rose to a record last night and was recently traded around $117.50ish per barrel, gold traded around $915.50ish and JPY traded around 103.30ish. Nikkei futures closed at 13700 in CME overnight compared to the close of 13620 here yesterday.
Kospi may open rather flat around 231-232ish level today following the mixed close on Wall St overnight. Some selling pressure due to profit taking may take place today in the market but strong buy may still be there depending on the corporate news to come out of the country. Trading range may be small and volatility may be high today with investors selling and buying at bargain prices.
Hangseng may open around 24500-24600ish today and may have a profit taking session during the day. China's mainland markets may be in focus again to see if the rebound yesterday is going to last long. Some positiveness in the market is still there for Hangseng and market may move in a more volatile way today with energy shares and tech shares dominate the market. If market able to breach the 24900 mark, it may go towards 25000 and if market able to breach 24500 mark, it may go down towards 24300 level today.
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