Kopsi Steady, Lotte Group Become Attention Center
Although it was opened in early trading kindisi confusing, it appears at the end of the South Korean stock market trading on Thursday, the index Kospi successfully opened sharply higher, and even nearly reached the highest in four months, due to soaring seed stocks in the country.
Amplifier exchange Seoul shares on Thursday were shares of Samsung Electronics at 1:20%, shares LGElectronics 1:30%, Daewoo Securities 2.90%, Hyundai Securities 12:54%, shares of Samsung Securities 2:30%, shares of Asiana Airlines 0.80%, shares of LG Chem 6:09%, S-Oil Corporation 3:45%, SK Innovation 4:13%, Lotte Shopping shares 2:33%, Daewoo Shipbuilding & Marine Engineering 1.71%, shares of Samsung Heavy Industries 5:13%.
Thursday, spot Kospi index looks successfully closed sharply higher by 23.72 points or 1:18%, by becoming 2033.27 points from the closing position at the end of the previous stock exchange trading on the position of 2009.55 points and was able to record the highest strengthening trading on Thursday on position 2035.80 points and the lowest on Thursday at 2007.46 points position.
Likewise, the movement of the index futures Kospi on Thursday successfully closed soared by 2.95 points or 1:20%, to be 247.89 points from the closing position at the end of trading the stock exchange prior to the position of 244.94 points and able to record the highest strengthening trading on Thursday on position 248.53 and lowest points on Thursday at 244.69 points position.
Continue on the South Korean stock market trading this Friday, is expected that investors will look forward and respond to the results of the performance of the US stock market and oil price movements, due to landing lonely sentiment in the country.
Technically, the index on the trading session today, Friday (16/10) likely to weaken, test negative trends, the impact of Wall Street. At the M15 chart bearish engulfing formation provides opportunities for the index to move downside. However, the volume tends to increase, an early indication of bullish index. In addition, RSI, the M15 chart, was oversold, signaling upside.
It is estimated, the index test the first support level 247.50 and 246.80. If it fails at 248.25, then the next index is expected to tend to retest the 248.70 resistance level and continued up to the possibility of being in the 249.30 area.
Pounds Moving Flat Landing Awaits US Inflation Data
Pound exchange rate movements against the US dollar the main rival to the European session on Thursday rolled flat, marking the market attitude is more likely to await the landing of US fundamental data today UK because they did not issue data economic indicators. While the movement in trading Sterling gained momentum dual reinforcement of support encouraging the labor sector as well as utilize US fundamentals.
Strong Dukuangan Sterling reverse the direction of the exchange rate of the labor sector despite unemployment claims rose in September to 4.6 thousand. However, the average earnings including bonuses grew 3.0%, and the most surprising is the unemployment rate fell to the lowest level since 2008.
No referral data from Europe and the UK Thursday, so attention will back on the US economy. US inflation data this evening period September to the main important data this week after the minutes of the FOMC delay interest rate rises because inflation worrying low. Inflation (PPI) released yesterday gave a half landing with a -0.5% figure, this would make the potential US Inflation Rate m / m back in negative figures after August at -0.1% figure.
Such sentiments will provide the next opportunity for a GBP bullish or slightly corrected. As information that Inflation Rate US monthly basis in August and -0.1% in numbers and these data on an annual basis stands at 0.2% in August, while the annual core inflation of 1.8%.
Setbacks inflation has been perceived by other countries such as the European currency, England, Japan, Nor China. This can be regarded as a global slowdown in the inflation rate as the impact of the period of world oil prices that are cheap. As information that the lowest prices in the world oil bull August at around the price of 38 dollars per barrel and in September at around 43.5 dollars per barrel.
To be dampening the weakening US dollar and reduced expectations of interest rate hikes were catapulted to the Year 2016 and still in 2015, the data Inflation this September should be surprising rise. However, these conditions seem far from the possibility of considering in countries such as the UK currency rivals, China, Europe, and Japan has suffered a setback inflation since the period of cheap gasoline prices.
Technically, the trading session today, Friday (16/10), pound sterling-dollar pair has an opportunity to move in a negative trend.
The weakening of the pound sterling mainly expected soon reexamine the minimum support at 1.5400 and maximum 1.5350. Meanwhile, if the pound sterling was able to break and hold above 1.5465, then the other alternative scenario that is Pound chance to test resistance in 1.5490 and 1.5540 area.
Gold Solidly in Top Level
Gold is still firmly in the four-month high on Thursday, the recovery of the dollar put pressure on this precious metal. However, market confidence if the Federal Reserve will delay interest rate hikes still maintaining the performance of gold.
Data released Thursday showed US experienced deflation in two consecutive months. The consumer price index in September was released -0.2%, in line with economists’ expectations, from -0.1% the previous month. While the core consumer price index rose 0.2% higher than expected 0.1%.
Weekly unemployment benefit claims fell to 255,000 from 262,000 previously, and was lower than economists expected 269 000. While the index of manufacturing activity area of New York and Philadelphia showed declines deeper conditions.
Gold rallied 1.4% on Wednesday due to disappointing economic data from China and the US, the more convincing market participants if the US central bank will delay interest rate hikes this year.
SPDR Gold Trust, the biggest gold-based ETF in the world, reported a rise in holdings of gold assets amounted to 7.7 million tonnes on Wednesday, becoming the first inflow since October 1, once was the biggest since February 2.
Technically, gold in today’s trading session on Friday (16/10) potentially bearish, tested negative trend back, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band begins to widen, thus giving impetus for gold to the upside.
It is estimated that the gold price immediately prior to test support in the area of at least 1175.25 and re-test the maximum level of 1170.73. However, if the price of gold is able to break and hold above 1181.50, the predicted gold prices could potentially test Resistance ie, 1184.40 and 1189.72.
