Asian markets were mixed at midday after China’s Premier Wen Jiabao said China will “significantly increase” investment in 2009 but no promise of any stimulus plan.Local market opened higher this morning but followed its Asian peers to retreat in the afternoon.
Overall sentiment remained poor amid external and internal disturbances. In fact, the deteriorating political situation in Perak state has actually made investors refrain from taking any active position.
However, Key Indicator (Blue) of the Daily MSO Chart edged up 13.17 pts to -78.22 after today’s trading. The last minute pushes of this few days did contribute to the reversal. But, forward market trend remains uncertain as the Indicator still has a big gap from the 20-Days and 50-Days Average. (Click on Chart to view)
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