Conclusion:
KLCI was range bound during the morning session but buying of Tenaga, Public Bank and Mas after the afternoon break pushed the Index to end at 919.07 added 8.55 points or 0.94%. The buying is suspected been carried out by government link body such as ValueCap or EPF.
Overall market sentiment was bad as the Intra-Day MSO even fell deep into negative zone. Only the last minute buying pushed the MSO to end at +89.61 this afternoon.
After today’s trade, the key indicator of the Daily MSO Chart, 5-Days Average, faces lower from yesterday’s +67.63 to +47.99. This indicating market sentiment has sizzled out from a robust day recorded in the first day of this week.
It is viewed that the last minute buying before closing doesn’t conclude a better week ahead as the overall volume of today is very thin at 415 mln shares only. Furthermore, tonight is the night that US will announce its unemployment report which has been anticipated as the worst report for the last 16 years. There is no solid ground for investors to be optimistic for next week’s market unless the US and Asian market prepare to shrug off this bad news. Of course, the last buying did show some confidence for mid-term market.
At about 2130, US report showed employers in US has slashed payrolls by over half a million jobs in December and the unemployment rate climbed to its highest level in almost 16 years. Both US Future and Stocks in Europe react negatively to the report.
KLCI was range bound during the morning session but buying of Tenaga, Public Bank and Mas after the afternoon break pushed the Index to end at 919.07 added 8.55 points or 0.94%. The buying is suspected been carried out by government link body such as ValueCap or EPF.
Overall market sentiment was bad as the Intra-Day MSO even fell deep into negative zone. Only the last minute buying pushed the MSO to end at +89.61 this afternoon.
After today’s trade, the key indicator of the Daily MSO Chart, 5-Days Average, faces lower from yesterday’s +67.63 to +47.99. This indicating market sentiment has sizzled out from a robust day recorded in the first day of this week.
It is viewed that the last minute buying before closing doesn’t conclude a better week ahead as the overall volume of today is very thin at 415 mln shares only. Furthermore, tonight is the night that US will announce its unemployment report which has been anticipated as the worst report for the last 16 years. There is no solid ground for investors to be optimistic for next week’s market unless the US and Asian market prepare to shrug off this bad news. Of course, the last buying did show some confidence for mid-term market.
At about 2130, US report showed employers in US has slashed payrolls by over half a million jobs in December and the unemployment rate climbed to its highest level in almost 16 years. Both US Future and Stocks in Europe react negatively to the report.
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