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Here are the latest trading levels for Asia's major stock markets:
Tokyo (Nikkei Average NIK, -0.89% ) down 0.6%
Hong Kong (Hang Seng Index HSI, +0.56% ) up 0.5%
Shanghai (Shanghai Composite Index SHCOMP, +0.99% ) up 1% (at break)
Sydney (S&P/ASX 200 XJO, +0.68% ) up 0.5%
Seoul (Kospi SEU, -0.67% ) down 0.8%
Mumbai (Sensex 1, +0.44% ) flat
Taipei (Taiex Y9999, -0.31% ) down 0.4%
Concerns about Greece's plans to renegotiate its bailout rattled most Asian markets on Thursday and put pressure on the euro, but Shanghai and Hong Kong rallied after China cut the amount of funds banks must hold in reserve.
Traders mostly took their cue from New York, which was hit by news that the European Central Bank would not allow Greek lenders to use government bonds to borrow cash, cutting off much needed access to liquidity.
Tokyo tumbled 1.00 per cent despite a surge of more than 10 per cent in Sony, while Sydney, which has risen for the past 10 sessions, was 0.15 per cent higher. Seoul shed 0.76 per cent and Taipei lost 0.32 per cent, while Singapore dipped 0.50 per cent.
MALAYSIA share prices opened flat on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.77 points to 1803.79.
Volume was 26.49 million lots worth RM13.15 million.
Losers outnumbered gainers 68 to 58.
MALAYSIA share prices closed higher on Wednesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 21.76 points to 1,803.02. Volume was 2.5 billion lots worth RM2.7 billion. Gainers outnumbered losers 467 to 399.
TRADING TIPS :
GBP/USD hit 1.4990 during European morning trade, the pair’s lowest since January 30; the pair subsequently consolidated at 1.5018, slipping 0.17%.U.K. construction purchasing managers’ index increased to 59.1 last month from a reading of 57.6 in December. Economists had expected the index to dip to 57.0 in January.The data came a day after Markit said that its U.K. manufacturing PMI rose to 53.0 last month from a reading of 52.5 in December. However, commenting on the report, Rob Dobson, senior economist at survey compiler Markit, said that “at this rate, the sector will provide little meaningful boost to the economy in the first quarter. “Meanwhile, sentiment on the dollar remained vulnerable after data on Monday showed that U.S. consumer spending fell at the fastest rate since September 2009 in December, dropping 0.3% as households saved on cheaper gasoline prices.
INTRADAY OUTLOOK
Support: 1.5037
Resistance: 1.5127
RECOMMENDATION:
1. Buy GBP/USD Above 1.5129-TG: 1.5149/1.5179 SL 1.5099
2. Sell GBP/USD Below 1.5035-TG: 1.5015/1.4985 SL 1.5065
INTRADAY OUTLOOK
Immediate Support: 1.1292
Immediate Resistance: 1.1382
RECOMMENDATION:
1. Buy EUR/USD Above -1.1384 TG: 1.1404/1.1434 SL 1.1354
2. Sell EUR/USD Below -1.1290 TG:1.1270/1.1240 SL 1.1320
