Kospi In Negative Conditions
At the opening of stock exchange trading South Korea on Friday (08/01), the Kospi index opened negative, down -14.91 points, or -0.78 percent, at 1899.42. Weakening the Kospi index amid global uncertainty caused by the crisis of the Chinese stock market, coupled with rising tensions on the peninsula following the fourth nuclear test North Korea.
North Korea claims on Wednesday that it had successfully tested a hydrogen bomb trigger geopolitical concerns on the Korean peninsula. This incident seems to have no direct impact on stock prices in the region.
The Shanghai index plunged 7.32 percent when trading was halted, while the Shenzhen index dropped 8.34 percent. CSI300 index, the benchmark index against which define the new circuit breaker set, fell 7.21 percent. If the index goes up or down 5 percent, the market stopped all trading for 15 minutes. If the move 7 percent, trading will be suspended for the remainder of the day. In total on Thursday, Chinese stocks traded only about 15 minutes.
Before the trade, the People’s Bank of China (PBOC) set the midpoint at 6.5646 yuan per dollar, 0.5 percent weaker than a fixed exchange rate Wednesday, the biggest decline since the devaluation beginning in mid-August. In spot trading, the dollar-yuan pair is at 6.5906. Expectations the yuan will continue to weaken can spur investment flows out of China.
In trading this morning, stocks are pressing South Korean stock exchange is Asia Pacific stocks No10 Ship Investment, which dropped -8.06%, Hyundai Merchant Marine fell -7.03%, Hyundai Securities shares fell -6.71%, stock Namkwang Engineering Construction fell -6.68%, Metal Daiyang shares fell -6.31%.
As for the Kospi index futures tracked down -1.70 points, or -0.73% to 230.80 positions, down from its previous close at 232.50.
Technically,
Resistance: 233.30 233.90 234.50 High / Low: 233.95 / 230.55
Support: 232.30 231.80 231.00 Running Price: 232.80
Comment: To intraday trade today suggest Buy 232.00 stop loss at the level of 231.60 at the level of the target at the level of 233.70.
Euro Gains Corrected
Valuation euro rose sharply against the US dollar on the previous day thanks to the rise in German factory orders data and Euro zone economic sentiment better than expected. Strengthening this is the second day. Yesterday the meeting the minutes of the Federal Open Market Committee (FOMC) December assessed dovish so that the euro could recover for 3-trade after the previous session weaker.
Before the start of the European session, Destatis reported a rise in factory orders in Germany in November despite the decline in demand in the Euro zone. New orders the manufacturing sector grew 1.5% in November compared to the month before the report was revised up 1.7%, much better than expectations for a 0.1% rise.
Economic sentiment in the euro area also unexpectedly rose in December and considered to be a sign of stimulus from the European Central Bank (ECB) at the end of last year can be a factor of economic recovery of the Euro zone are unstable. Consumer and business confidence index rose to 106.8 from 106.1 in November, the highest level since April 2011. Economists suspect economic sentiment dropped to 106.1.
Technically,
Resistance: 1.0925 1.0975 1.1025 High / Low: 1.0926 / 1.0871
Support: 1.0850 1.0800 1.0750 Running Price: 1.0878
Comment: To intraday trade today suggest at level Sell 1.0925 1.0963 stop loss at the level of the target at the level of 1.0830.
Gold Ends Up
Trading commodity futures exchange on Friday (8/1), the price of gold was observed to naturally rise with trading higher after managed to increase in the previous session.
Ongoing trade in the Asian session, gold futures for February delivery rose monitored 0:09% to trade at $ 1.108.70 per troy ounce on the Comex division of the US. Meanwhile, silver futures for March delivery was observed even experienced a decline of 0.83% to stand at the level of $ 14,225 per troy ounce.
The price of gold looks to continue to strengthen its gains since the beginning of this week, when the demand for the greenback declined due to market sentiment shifting into trading commodities markets. The transfer of investments among market participants was caused because investors considered that commodity markets is now a safer place to protect their assets.
Increased interest in buying commodities precious metals occur as a result of increasing world chaos geopolitical conditions. North Korea officially confirmed that it had conducted a nuclear test and asserted that they would not surrender to facilitate nuclear power in the country. In addition, tensions between Iran and Saudi Arabia is another factor heightened geopolitical turmoil the world.
Meanwhile, the market’s attention today amid fixed on a US labor market report scheduled to be released at 20:30 Jakarta time. The report includes a Data Non-Farm Employment Change, where a survey of economists had forecast there will be an increase of 203K in December.
In addition, a report US unemployment rate will also be released at the same time that a survey of economists expect the unemployment rate in the Americas region will not experience changes with stands at 5.0% for December.
Technically,
Resistance: 1104.50 1106.80 1108.20 High / Low: 1112.90 / 1100.90
Support: 1100.00 1096.40 1094.80 Running Price: 1102.10
Comment: To intraday trade today suggest Sell at level 1105.60 1107.10 stop loss at the level of the target at the level of 1095.60.
