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September 24, 2007
Cara’s Monday Report, Sept. 24, 2007, 9:18 AM
Market Chat
Traders in North America cannot ignore the fresh new high record closing prices today and for many recent days across the Asia-Pacific region ex-Japan.
International Equity Markets Review
Asia-Pacific
The indexes across Asia-Pacific equity markets were solidly positive today. Japan was not trading.
Here is the latest session data for the Asia-Pacific stock exchanges.
Here is the latest chart for the Japanese Nikkei 225 index.
The Nikkei Dow did not trade on Monday and stays at 16312.
The N225 was well over 18000 in July.
Here is the latest chart for the Singapore index .
Today, the Singapore STI was up +2.73 pct at 3639.02, closing at the high of the session, just a few points from a record high.
Here is the latest chart for the Shanghai Composite index .
The Shanghai Composite gained +0.56 pct to 5485.01, which is just 4 points from a fresh new closing record. Also the 5506.06 was a new intra-day record high.
Here is the latest chart for the Hong Kong Heng Seng index .
The Hong Kong market was up +2.74 pct in today’s session, closing at 26551.94, which is a fresh record high close.
Twenty years ago, this index traded as low as 1894.
Here is the latest chart for the India BSE 30 index .
Today, the Bombay Stock Exchange BSE 30 Sensex index gained +1.70 pct to 16845.83, which is a fresh record high.
Here is the latest chart for the Australian All Ordinaries index .
The All Ordinaries index of Australia gained +1.41 pct today to close at 6461.1, which is just 8 points from a new record high.
Europe
Here is the latest session data for the bourses of Europe.
There is mixed trading in Europe today (9:05am ET).
Traders in Europe are still concerned with the risky state of the banking and credit markets there.
Here is the latest chart for the UK FTSE 100 index.
The FTSE is up +0.25 pct at 6472.9 today in mid session (9:06am ET).
Some of the banks, like Barclays, have taken a hit.
US Dollar Review
Here is the chart of the recent trading.
The trade-weighted USD is trading at 78.507 at 8:38am ET, and remains weak.
Oil Review
Interactive Chart of Weekly Crude Oil:
Here is the e-miNY Nov-07 Crude Oil chart.
Crude Oil is presently (about 9:09am) at 81.30, down from Friday.
Gold & Precious Metals Review
Here is the Recent Spot Gold chart.
Spot gold is presently (about 9:11am ET) at 732.2. Firm.
Here is the Recent Spot Silver chart.
Spot silver is a bit stronger today (9:17am ET), presently at 13.53.
I like the Kitco.com charts btw, but also need the ones at Yahoo Finance, StockCharts.com, BillCara2.com and ADVFN.com before making any opinion.
Wrap-up
No dark clouds on the horizon. Yet.
I will be on the lookout for the time soon that the USD picks up strength, which I think will cause some foreign selling in the US equity and debt markets.
Have a good day.
Posted by Posted by Bill Cara on September 24, 2007 09:18:48 AM | Category: Cara Today in the Market , Cara's Daily Commentary
