Why the hell is the Seoul composite only one that is and have been for a long time bucking the trend? I've been tracking this index for a number of months and I remain very skeptical, or rather outright suspicious, of what's driving this market. Recently there has been a report that the government of South Korea is investigating a major inside trading that took place within large corporations. Obviously, their security laws aren't as stringent as SEC and this doesn't bode well since I can palpably feel that there's major manipulation behind this momentum IMHO.
There are always a lot of manipulations in Aisan markets. Korea, Taiwan, China, India, Hong Kong...... But manipulation is good for traders, the more manipulations, the more price movement and oppurtunities. Hope Asian countries will never make their security laws stringent.
I'd love to see Korea and Taiwan cash equities from IB. Comm, FX treatment, and min order size make these difficult markets for a staratgy I use with existing brokers. As for Joesan's comments about the nature of Asian markets, when the TW or HK syndicates get hold of a stock like it's a bulldog shaking a rat - just make sure you are in at the beginning not the end....................... Malaysia would also be nice for the same reasons.
Taiwan, Hong Kong, Malaysia ...... and of coure mainland China, this relates to something within the Confucian culture.