US markets ended the session higher last night after a good GDP report and a plunge in oil prices convince investors to put more money into the stock markets. GDP showed that the economy grew at 0.9% pace in Q1, better than previously stated at 0.6%. With this data, the US economy didn't have a quarter with negative GDP number and analysts believe that the recession in the US have been averted since recession is defined by 2 quarters of negative GDP growth. The rising dollar helped pushed oil downwards to settle at $126.62, which is the lowest close in 2 weeks. With good GDP and lower oil prices, investors have gained more confidence that the economy grow will pick up in 2nd quarter but it also means that The Fed may have to start to raise rates to stem inflation somewhere in September. The Dow ended up by 52.19 pts or 0.41% to 12646.22, S&P500 rose 7.42 pts or 0.53% to 1398.26 while Nasdaq rose 21.52 pts or 0.87% to 2508.32.
Asian markets may open higher again today and may continue their rally from yesterday. Nikkei, which had a biggest rally in the past few months may continue to rise again today after dollar strengthened against Yen and may help exporters to get more grounds in the market. The decline in oil prices may convince investors to put more money into the markets as it eases more inflationary pressure but may have significant impact on oil producers. Investors should also watch for profit taking as today being a Friday and after most markets gained quite a lot yesterday, there's also chance that people may want to enjoy profit today. Oil was recently traded around $126.39ish per barrel, gold traded around $876.85ish and JPY traded around 105.50ish. Nikkei futures was closed at 14240 in CME compared to the close of 14145 here yesterday.
Kospi may open higher today and may extend their rally from yesterday. A drop in oil and good US GDP data may helped push the market higher today and a better-than-expected earnings report from Dell may help push tech sector higher today. Kospi may open around 238ish and may even try to get to the 240 mark today if investors are confident enough. However, selling pressures may be seen as the market go near that area and do not forget today is a Friday and profit taking may even kick in after a market had a decent run up yesterday.
Hangseng may open higher yet again today and may hold onto its gains this time. A drop in oil and a good US GDP data may help push stocks higher today with investors come in as they believe that the global recession may have been averted. Hangseng may open at around 24500ish again today and if it can go past that, it may find its resistance at 24700. However, there's also chance that investors may want to have profit taking session again today as they don't want to go into the weekend with big positions. Hangseng may have its support at 24300 today. With May futures contract expired yesterday, the new June contract have about 100 pts discount to the money market.
Jumat, 30 Mei 2008
Kamis, 29 Mei 2008
Asian market preview 29/05/2008
US markets finished the session moderately higher for 2nd straight session last night. Better-than-expected durable goods data helped push stocks higher and a rebound in oil helped oil producers and commodity related stocks to rebound from previous day's losses. Financial sectors weigh on the market though and caused markets to be very volatile last night. Analysts thought that the recovery in the financial sector may take very long to complete and that negative sentiment certainly pushed the group down. The Dow ended up by 45.68 pts or 0.36% to 12594.03, S&P500 rose 5.49 pts or 0.40% to 1390.84 and Nasdaq rose 5.46 pts or 0.22% to 2486.70.
Asian markets may open the day higher again today after ending the session lower yesterday caused by the sharp dip in oil prices weighed on oil producers. Today however, markets around the region may rise and get some rebound from yesterday's losses. Market volatility maybe high as higher oil prices may drive oil producers such as Inpex to get some rebound but still weigh on other sector with inflationary fears mounting yet again. Oil was recently traded around $130.58ish per barrel, gold traded around $902.15ish and JPY traded around 104.62ish. Nikkei futures closed at 13910 in CME last night compared to the close of 13830 here yesterday.
Kospi may start the day higher yet again today at around 233ish and may rise to get some rebound after ending the session lower yesterday. A selloff in equities was sparked yesterday as oil prices dipped sharply from record and also was pushed down by LG electronics. If investors are confident enough, the index may reach the 235ish mark again but if it can breach yesterday's intraday low at 230.75, it may continue down further towards 228ish.
Hangseng may start the day higher today at around 24300ish today and with May futures contract set to expire today, it may drive the market higher and get some rebound today. Oil producers such as CNOOC which was battered yesterday may stage a rebound today and investors may start buying into banks again today. Hangseng may find its strong resistance at around 24500 and if it should fall below the 24100 mark, it may find a strong support at 24000 today.
Asian markets may open the day higher again today after ending the session lower yesterday caused by the sharp dip in oil prices weighed on oil producers. Today however, markets around the region may rise and get some rebound from yesterday's losses. Market volatility maybe high as higher oil prices may drive oil producers such as Inpex to get some rebound but still weigh on other sector with inflationary fears mounting yet again. Oil was recently traded around $130.58ish per barrel, gold traded around $902.15ish and JPY traded around 104.62ish. Nikkei futures closed at 13910 in CME last night compared to the close of 13830 here yesterday.
Kospi may start the day higher yet again today at around 233ish and may rise to get some rebound after ending the session lower yesterday. A selloff in equities was sparked yesterday as oil prices dipped sharply from record and also was pushed down by LG electronics. If investors are confident enough, the index may reach the 235ish mark again but if it can breach yesterday's intraday low at 230.75, it may continue down further towards 228ish.
Hangseng may start the day higher today at around 24300ish today and with May futures contract set to expire today, it may drive the market higher and get some rebound today. Oil producers such as CNOOC which was battered yesterday may stage a rebound today and investors may start buying into banks again today. Hangseng may find its strong resistance at around 24500 and if it should fall below the 24100 mark, it may find a strong support at 24000 today.
Rabu, 28 Mei 2008
Asian market preview 28/05/2008
US markets closed higher after a session of nervous trading around the markets. Investors were provided with better-than-expected new home sales data and that boost stocks a bit. A drop in oil prices also helped to push stocks higher around the markets. However, with lots of uncertainties still linger in the air, investors seems to be reluctant to put in big bets into the markets and prefer to wait and see for more cues about the economic condition with more data due out later on this week. Home prices dropped to a 14-year low but new home sales were up 3.3% from last month which gives a little bit good sign for investors. Technology shares got a boost after analysts encourage to buy into the sector and homebuilders also get a boost with the new home sales data. In other news, consumer confidence dropped to its lowest level since October 1992. The Dow ended up by 68.72 pts or 0.55% to 12548.35, S&P500 rose 9.42 pts or 0.68% to 1385.35 while Nasdaq rose 36.57 pts or 1.5% to 2481.24.
Asian markets may open higher today following the mild gains on Wall St overnight. The drop in oil prices to below $130 per barrel may help stocks which rely on oil and may boost the overall market. However, with Wall St only gained mildly, investors may also want to be cautious ahead of more economic data to come out of the US and may cause volatile trading in the markets around the region. Oil was recently traded around $128.44ish per barrel, gold traded around $905.75ish and JPY traded around 104.22. Nikkei futures was closed at 13965 in CME compared to the close of 13885 here yesterday.
Kospi may open higher today around 236-237ish and may extend its rally from yesterday following a better-than-expected US new home sales data. However, with more economic data due out later on in the week, investors may not put in too much money into the market and after yesterday's big gain, there's also a slight chance that investors may want to sit out on the sidelines. Trading maybe volatile with tech sector may play a big part to boost the market today. With oil dropped below $130 per barrel, consumer may become slightly a bit more optimistic.
Hangseng may open around 24300ish today following regional for higher open today after US perform mildly better last night. With oil dropped to below $130 per barrel, oil refiners such as Sinopec and PetroChina may get a boost today but CNOOC may be sluggish. Chinese mainland market may yet again play a significant role in determining how the market will end today. Trading maybe volatile and Hangseng may test the 24500 mark today and may find its strong resistance at 24000.
Asian markets may open higher today following the mild gains on Wall St overnight. The drop in oil prices to below $130 per barrel may help stocks which rely on oil and may boost the overall market. However, with Wall St only gained mildly, investors may also want to be cautious ahead of more economic data to come out of the US and may cause volatile trading in the markets around the region. Oil was recently traded around $128.44ish per barrel, gold traded around $905.75ish and JPY traded around 104.22. Nikkei futures was closed at 13965 in CME compared to the close of 13885 here yesterday.
Kospi may open higher today around 236-237ish and may extend its rally from yesterday following a better-than-expected US new home sales data. However, with more economic data due out later on in the week, investors may not put in too much money into the market and after yesterday's big gain, there's also a slight chance that investors may want to sit out on the sidelines. Trading maybe volatile with tech sector may play a big part to boost the market today. With oil dropped below $130 per barrel, consumer may become slightly a bit more optimistic.
Hangseng may open around 24300ish today following regional for higher open today after US perform mildly better last night. With oil dropped to below $130 per barrel, oil refiners such as Sinopec and PetroChina may get a boost today but CNOOC may be sluggish. Chinese mainland market may yet again play a significant role in determining how the market will end today. Trading maybe volatile and Hangseng may test the 24500 mark today and may find its strong resistance at 24000.
Selasa, 27 Mei 2008
Asian market preview 27/05/2008
US markets were closed for Memorial Day holiday last night and therefore, there's no action and cues for Asian markets to follow in today's starting trade.
Asian markets may open rather flat today following the markets' close over in the US last night. The only thing that's going to be a burden today maybe the high oil prices but I think, Asian markets may have a rebound today after falling for the past 5 sessions. Trading volumes in most markets maybe small as there's lacking news to drive the markets. Oil was recently traded around $132.90ish per barrel, gold traded around $927.60ish and JPY traded around 103.40ish. Nikkei futures was closed at 13730 here yesterday.
Kospi may open flat today around 231-232ish and may have a rebound during the day on bargain hunting. It may try and go towards 234 but I think it may not close that high as there are not enough news to drive the overall market. Oil may still play a big part in the market but I think the current market price have already priced in for the current oil price and investors may start to buy more stocks today.
Hangseng may open around 24200-24300 today and may have a rebound after a series of consecutive drops for the past 5 sessions. China mainland market may play a significant part in driving the market today whether to have a rebound or may even go back down. Hangseng may find its strong support at 24000 and may find its first resistance at 24400. Bargain hunters may find a big part too in driving the market today.
Asian markets may open rather flat today following the markets' close over in the US last night. The only thing that's going to be a burden today maybe the high oil prices but I think, Asian markets may have a rebound today after falling for the past 5 sessions. Trading volumes in most markets maybe small as there's lacking news to drive the markets. Oil was recently traded around $132.90ish per barrel, gold traded around $927.60ish and JPY traded around 103.40ish. Nikkei futures was closed at 13730 here yesterday.
Kospi may open flat today around 231-232ish and may have a rebound during the day on bargain hunting. It may try and go towards 234 but I think it may not close that high as there are not enough news to drive the overall market. Oil may still play a big part in the market but I think the current market price have already priced in for the current oil price and investors may start to buy more stocks today.
Hangseng may open around 24200-24300 today and may have a rebound after a series of consecutive drops for the past 5 sessions. China mainland market may play a significant part in driving the market today whether to have a rebound or may even go back down. Hangseng may find its strong support at 24000 and may find its first resistance at 24400. Bargain hunters may find a big part too in driving the market today.
Senin, 26 Mei 2008
Asian market preview 26/05/2008
US markets tumbled again on Friday to finish the week lower by at least 3% for each of the major indices. The main concern posted by investors is the ever rising oil prices which may affect consumer spending in upcoming days and months. As the summer holidays kick in, people are expected to drive more and therefore they need more gasoline to fuel their vehicles. Housing also posted a concern after sales of previously owned homes matched an all time low in April. Analysts start to think that the recent 2 months of gains from markets' lowest point may have come a little bit premature and that now, investors are starting to realize that the economy recovery is not as easy as it seems. With high oil prices as the main concern, The Fed may not cut anymore rates in the coming months and some investors have started expecting that The Fed will raise rates in October. The Dow finished Friday's session lower by 145.99 pts or 1.16% to 12479.63 and it declined 3.91% for the week. S&P500 fell 18.42 pts or 1.32% to 1375.93 and declined 3.47% for the week. Nasdaq fell 19.91 pts or 0.81% to 2444.67 and declined 3.33% for the week.
Asian markets may start the day lower today following the weak close on Wall St on Friday and also the high oil price may posted more concerns for the inflationary state of the countries in the region. WIth the US long weekend, trading volume may be expected to be thin today as investors may want to stay on the sidelines amid the uncertainties of the global economy. Oil was settled at $132.19 per barrel on Friday and was recently traded around $131.67ish per barrrel, gold traded around $923.10ish and JPY traded around 103.40ish. Nikkei futures closed at 13860 in CME compared to the close of 13940 here on Friday.
Kospi may start the day lower again today following the decline on Friday and also the decline in Wall St due to inflation concerns. It may open around 233ish and may go as low as 231ish today if the negative sentiment pushed investors to sell and investors think that the recent 2 months gains is over. However, with finance companies keep buy rating for Kospi, the downside maybe limited and that utilities and tech sector may help support the market.
Hangseng may start the day lower following regional and US cues on Friday. It may open around 24400ish and may even go towards 24000ish if consumer sentiment remains weak. Chinese mainland markets may still have a significant impact on Hangseng and it seems that the quake in Sichuan is far from finishsed and may have more negative impact on the market. For futures market, the strong support is at 24000 and if the market decided to recover, it may find its first resistance at 24800 today.
Asian markets may start the day lower today following the weak close on Wall St on Friday and also the high oil price may posted more concerns for the inflationary state of the countries in the region. WIth the US long weekend, trading volume may be expected to be thin today as investors may want to stay on the sidelines amid the uncertainties of the global economy. Oil was settled at $132.19 per barrel on Friday and was recently traded around $131.67ish per barrrel, gold traded around $923.10ish and JPY traded around 103.40ish. Nikkei futures closed at 13860 in CME compared to the close of 13940 here on Friday.
Kospi may start the day lower again today following the decline on Friday and also the decline in Wall St due to inflation concerns. It may open around 233ish and may go as low as 231ish today if the negative sentiment pushed investors to sell and investors think that the recent 2 months gains is over. However, with finance companies keep buy rating for Kospi, the downside maybe limited and that utilities and tech sector may help support the market.
Hangseng may start the day lower following regional and US cues on Friday. It may open around 24400ish and may even go towards 24000ish if consumer sentiment remains weak. Chinese mainland markets may still have a significant impact on Hangseng and it seems that the quake in Sichuan is far from finishsed and may have more negative impact on the market. For futures market, the strong support is at 24000 and if the market decided to recover, it may find its first resistance at 24800 today.
Jumat, 23 Mei 2008
Asian market preview 23/05/2008
US markets posted a modest increase last night after oil drops more than $2 though it rose to slightly above $135 per barrel. The drop in jobless claims also boosted the overall market. Jobless claims drop 9000 to 365000 compared to an estimated increase by analysts. It showed that companies are doing the right thing to help the economy where they're cutting back hiring instead of firing more existing employees. Almost all industries rose in the market and even the financial sector also rallied last night. Utilities rose as more investors turn to this sector as defensive measures in these uncertain times. The Dow increase by 24.43 pts or 0.19% to 12625.62, S&P500 rose 3.64 pts or 0.26% to 1394.35 while Nasdaq rose 16.31 pts or 0.67% to 2464.58.
Asian markets may open higher today following US cues and after having a mixed session yesterday. The drop in oil prices may show that the recent rally is quite unjustified and it may give some assurance to investors that the current economic condition may get better later this year. Crude oil was recently traded around $130.93ish per barrel, gold traded around $919.90ish and JPY traded around 104ish. Nikkei futures was closed at 14020 in CME last night compared to the close of 13965 here yesterday.
Kospi may open around 236-237 today with a slight upward bias. It may go up towards 239ish as the first resistance and tech sector may give support to the market. With the first decline in oil after a few days of rally, foreign investors may start buying again and bargain hunters may kick in as the index have fallen more than 2% this week. However, limited upside may still remains as there are still more uncertainties in the market.
Hangseng may open slightly higher around 25000 today following US cues last night. China market may play a significant part to determine whether Hangseng will recoup its losses or whether it will have another rough day of ups and downs again today. Bargain hunters may kick in and start buying stocks to get the market well above the psychological 25000 level again. Hangseng may find 25200 as its first resistance and may find support around 24700 today. The futures market was at a 100 pts discount to the cash market at the close yesterday.
Asian markets may open higher today following US cues and after having a mixed session yesterday. The drop in oil prices may show that the recent rally is quite unjustified and it may give some assurance to investors that the current economic condition may get better later this year. Crude oil was recently traded around $130.93ish per barrel, gold traded around $919.90ish and JPY traded around 104ish. Nikkei futures was closed at 14020 in CME last night compared to the close of 13965 here yesterday.
Kospi may open around 236-237 today with a slight upward bias. It may go up towards 239ish as the first resistance and tech sector may give support to the market. With the first decline in oil after a few days of rally, foreign investors may start buying again and bargain hunters may kick in as the index have fallen more than 2% this week. However, limited upside may still remains as there are still more uncertainties in the market.
Hangseng may open slightly higher around 25000 today following US cues last night. China market may play a significant part to determine whether Hangseng will recoup its losses or whether it will have another rough day of ups and downs again today. Bargain hunters may kick in and start buying stocks to get the market well above the psychological 25000 level again. Hangseng may find 25200 as its first resistance and may find support around 24700 today. The futures market was at a 100 pts discount to the cash market at the close yesterday.
Kamis, 22 Mei 2008
Asian market preview 22/05/2008
US markets plunged and extended its decline from the previous day last night after oil soared past $134 per barrel in intraday trading overnight and after The Fed's minute of last month meeting. The Fed expected sharply lower economic growth and higher unemployment later this year, furthermore The Fed may not cut rate anymore as inflationary risks are growing as oil keep rising. The record oil price may hurt companies' earnings as investors feared and may increase prices for other commodities. Strong oil demand from China, an unexpected drop in US and supply disruption from Nigeria caused oil to spike more than $4. All sectors were in the red in the US markets and among the worst performers are airlines companies and retailers. The Dow finished lower by 227.49 pts or 1.77% to 12601.19, S&P500 tumbled 22.69 pts or 1.61% to 1390.71 while Nasdaq fell 43.99 pts or 1.77% to 2456.09.
Asian markets may open lower today following the sharp declines in the US overnight. High oil prices may hurt markets even more as high inflation is haunting Asian countries. High oil means high food prices and that consumers may curb spending further to anticipate the surging fuel and food costs. Energy producer sector may get a boost today with record oil prices and alternative energy may also get a boost. Oil was recently traded around $133.90ish per barrel, gold traded around $931.75ish and JPY traded around 103. Nikkei futures was closed at 13770 compared to the close of 13920 here yesterday.
Kospi may start the day lower again at around 235ish today and may fall further to find support at 233ish. However, recent sharp pullbacks in Kospi may encourage bargain hunters to go into stocks and may limit the loss in Kospi. As many analysts said, Kospi market is currently overweight and are still bullish for the rest of the year.
Hangseng may open lower today at around 25100-25200 today after recovering from losses at 2nd half of trading yesterday. Hangseng may be pressurised as high oil prices may lead to higher inflation in the country. However, China market may still be the driving factor like yesterday as China market recover late yesterday, the Hangseng market also follow suit and make a sharp recovery. Hangseng may find a strong support at 24800 today and may find resistance at around 25600.
Asian markets may open lower today following the sharp declines in the US overnight. High oil prices may hurt markets even more as high inflation is haunting Asian countries. High oil means high food prices and that consumers may curb spending further to anticipate the surging fuel and food costs. Energy producer sector may get a boost today with record oil prices and alternative energy may also get a boost. Oil was recently traded around $133.90ish per barrel, gold traded around $931.75ish and JPY traded around 103. Nikkei futures was closed at 13770 compared to the close of 13920 here yesterday.
Kospi may start the day lower again at around 235ish today and may fall further to find support at 233ish. However, recent sharp pullbacks in Kospi may encourage bargain hunters to go into stocks and may limit the loss in Kospi. As many analysts said, Kospi market is currently overweight and are still bullish for the rest of the year.
Hangseng may open lower today at around 25100-25200 today after recovering from losses at 2nd half of trading yesterday. Hangseng may be pressurised as high oil prices may lead to higher inflation in the country. However, China market may still be the driving factor like yesterday as China market recover late yesterday, the Hangseng market also follow suit and make a sharp recovery. Hangseng may find a strong support at 24800 today and may find resistance at around 25600.
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