Kospi fell at the opening
The Kospi opened weaker on Monday’s Asian session trading, the Kospi index opened at 250.30 points down 1.34% this morning, Kospi affected by the weakening of Wall Street and the won.
At the end of last week, at the last session of trading Stocks closed with low value, pressured by negative sentiment on global economic developments added to investors who now focusing see Brexit, whether Britain will leave the EU or not. Dow Jones index closed 119.85 points lower, around 0.67% at 17865 points, the S & P 500 index closed down 19.41 points, OR 0.92 percent, AT 2,096.07. The Nasdaq index closed down by 64.07 points, OR 1.29 percent, AT 4,894.55.
This morning also observed the won weakened against the US dollar. Couples exchange rate USD / KRW rose 0.64 per cent on the price of 1,172.74.
Shares of large capital weakened this morning is Korea Electric Power shares were down -0.97 percent, Amorepacific shares are down-2.02 percent, Hyundai Motor shares were down -0.72 percent, Naver shares fell -0.22 percent, Kia Motors shares fell -0.97 percent.
As for the Kospi index futures tracked down -3.45 points or -1.38% at 246.85, down from a previous close at 250.30.
Technically
Resistance: 248.75 249.53 249.80 High / Low: 252.56 / 237.77
Support: Running 246.37 246.15 245.35 Price: 247.40
Comment: For intraday trade today suggest Sell 245.45; stop and reversal during a break 242.02; the target reversal 243.59.
The yen rose in Asian trade
The yen rose in early Asian trade on Monday after last week market participants are busy with the central bank’s policy review.
USD / JPY was changing hands at 106.68, down 0.30%, while the EUR / USD was trading at 1.1248, down 0.04%.
In China, the fixed asset investment was 10.5% due to profit as expected in May year-on-year. Also visible in industrial production for May rose 5.9% and retail sales seen up to 10.1%
The US dollar index, which measures the strength of the dollar compared with six other major currencies, last quoted at 94.63.
Investors will focus its attention on monetary policy announcement Wednesday by the Fed for clues about the future direction of US interest rates, as well as the monetary policy meeting in Japan, Switzerland and the UK Also next week, England on June 23 will release a referendum on whether to remain in EU or not.
Last week, the dollar ended with a sharp rise in the weekend, was higher against other major currencies on Friday despite expectations for a rate hike by the Federal Reserve has reduced.
The market began pessimistic on the next rate hike by the US central bank after a dismal jobs report for May, which showed that the economy grew just 38,000 jobs last month, the smallest increase since September 2010.
Technically
Resistance: 106.59 106.67 106.83 High / Low: 107.83 / 106.25
Support: Running 106.08 106.21 106.38 Price: 106.41
Comment: For Intraday trade today suggest at Buy 106.67; stop loss level at 106.47; targets at the level of 107.02.
Gold rose in Asian markets
Gold rose in Asian trade on Monday, affected slightly weaker dollar and ahead of the data in China that will highlight the outlook for demand in precious metals.
Gold for August delivery on the Comex division of the New York Mercantile Exchange rose 0.29% to $ 1,279.55 per troy ounce. Silver for July delivery rose 0.17% to $ 17.360 per troy ounce.
Meanwhile on the Comex, copper futures for July delivery rose 0.39% to $ 2.035 per pound ahead of data including industrial production in China’s top importer of copper.
In China, the fixed asset investment is due to the gain of 10.5% as expected. Also visible in industrial production for May rose 5.9% and retail sales seen up 10.1% year-on-year.
Federal Reserve Chairman Janet Yellen said earlier this week that the central bank plans to raise interest rate hike, but gave no indication at the time of rate hikes.
Precious metal prices rose nearly 5% so far in June, after sliding more than 6% the previous month, as market participants react to shifting views about the timing of the next hike in US interest rates.
Technically
Resistance: 1278.82 1279.18 1280.45 High / Low: 1278.11 / 1234.39
Support: 1276.77 1274.93 1272.68 Running Price: 1277.85
Comment: For Intraday trade today suggest buy 1279.92; stop loss at 1279.18; targets at the level of 1285.02.
