FOCUS-Asia stocks catch Wall St euphoria, then fall
Tuesday November 4 12:24 AM EST
biz.yahoo.com
excerpts...
Asian markets roared upwards at the opening, taking their cue from New York. But then Hong Kong's futures market began to fall, dragging the cash market, and other markets in the region, with it.
''Some big selling orders were noted in the futures market from overseas investors,'' said one broker.
''Support has now turned into strong resistance'' said Peter Lai, associate director at OCBC Securities.
The Hang Seng Index ended Tuesday morning down 0.87 percent, or 97.52 points, at 11,157.59. It had risen as high as 11,661 and fallen to an intraday low of 10,972.
''I can see strong resistance at 11,800 to 12,000 points,'' Peter Lai, associate director of OCBC Securities in Hong Kong, said of the Hang Seng.
I'm thinking we'll see a pullback in the good ship DOW tomorrow. But after a 232 pt day, that wouldn't be entirely unexpected. -G- The question is, how low will she go? |
