Nikkei 225 Slips on Dollar Drop; HK Shares End Up

(Bloomberg) -- Japan’s Nikkei 225 Stock Average fell for the first time in a week as a dollar sell-off sparked by the U.S. Federal Reserve’s pledge to buy $1 trillion in bonds overshadowed optimism the action will revive credit markets. Honda Motor Co., which gets more than half its sales in North America, lost 3 percent as the weaker dollar diminished overseas income. Sumitomo Mitsui Financial Group Inc. added 5.4 percent on speculation central bank operations will boost lending. J Front Retailing Co. plunged 9 percent after nationwide department store sales fell the most since 1998 and Goldman Sachs Group Inc. lowered its shares to “sell.” The Nikkei 225 Stock Average lost 26.21, or 0.3 percent, to 7,945.96 at the close of trading in Tokyo, reversing a 0.8 percent advance. The broader Topix index was little changed at 764.77, with 21 of its 33 industry groups advancing. The Nikkei climbed 5 percent this week, while the Topix jumped 5.6 percent, its best performance in 2009. Japan’s markets will be closed tomorrow for a holiday.














(Dow Jones)--Gains in property companies sent Hong Kong shares slightly higher Thursday, but profit-taking in HSBC after several days of gains and a decline in China Mobile on an uninspiring earnings result kept a lid on the gains. Huiyuan Juice plunged as much as 53% after it resumed trading following Beijing's rejection of Coca-Cola's US$2.4 billion bid for the juice maker. The firm closed down 42% at HK$4.80. The blue-chip Hang Seng Index rose 13.75 points, or 0.10%, to 13,130.92 after trading between 12,947.90 and 13,205.17 during the session. Turnover totaled HK$48.59 billion, up from HK$37.5 billion Wednesday. Traders said they expect the index to hover around the 13,000 level after it rose in seven out of the past eight sessions. But index heavyweight China Mobile capped the index's gains, falling 2.1% to HK$66.70 after posting a slightly weaker-than-expected 2008 result. The world's biggest mobile operator by subscribers posted a 30% rise in net profit to CNY112.80 billion, slightly lower than the average CNY115.07 billion forecast of nine analysts polled earlier by Dow Jones Newswires.

Daily Commodities Market Recap and Technical Analysis

Gold rebounded sharply as the Fed’s decision to purchase long-dated government debt and expand its balance sheet raised inflation fear, increasing gold’s appeal as an inflation hedge. Spot prices closed at USD939.90/941.40, up over USD20 from the previous day. Gold price surged to as high as 954 after the Fed's pledge as the dollar weakened. However, the benchmark futures met selling pressure afterward and settled at 889.1. Currently rebounded to 932.7, investors find buying the precious metal below $900/oz a bargain but any strong rally in the near term will likely be tempered by strength in the stock markets.

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DAILY TECHNICAL ANALYSIS USD,EURO,GBP,JPY,DJI

Cable is still trading on the downside as wave ii has not been completed. Yesterday, we mentioned that the turning point may happen at 50% or 61.8% of wave i. The current prices bounced from 50%, but it may not be done yet because there is a double zig-zag formation developing. Double zig-zags are usually larger than a simple zig-zags so a push down to 61.8% or even 76.4% which is not shown here may happen especially as wave b and c of the second zig-zag develops.

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Gbp/Usd: Big Picture Elliott Wave

Forex Today : Aksi Quantitative Easing The Fed Picu Sell-Off Dolar AS

Dolar AS terpuruk terhadap mata uang utama dunia setelah the Fed membuat kejutan dengan mengumumkan akan membeli obligasi Treasury AS untuk membangkitkan pertumbuhan ekonomi. Dalam pernyataan yang dirilis semalam di akhir pertemuan selama dua hari, the Fed mempertahankan suku bunga 0-0.25% seperti perkiraan. Bagaimanapun, The Fed mengejutkan pasar dengan mengatakan mereka akan membeli lebih dari $ 300 miliar obligasi jangka panjang AS dalam 6 bulan mendatang dan melanjutkan pembelian surat hutang yang berhubungan dengan mortgage sebesar $ 850 miliar menjadi $ 1.45 triliun untuk meredakan kondisi pasar kredit.

Mata uang Asia dipimpin won Korea Selatan dan dolar Taiwan menguat terhadap dolar, berkat spekulasi pembelian bond pemerintah AS $ 1 triliun oleh the Fed dan meningkatkan permintaan untuk asset Negara berkembang. Rupiah menguat 0.5 persen menjadi 11,915 per dolar dan Bath Thailand menguat ke 35.68, peso menguat ke 48.29, yuan China menguat ke 6.8313, won menguat ke 1.396.70, dolar Taiwan ke NT$ 33.820.

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Technical Analysis Daily Forex + Gold

By Mudjo Ahmad (My Strategist Partner)

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