Asian markets mostly down but Japan market added a hefty 3.18% today.
Malaysia market showed some strength during the afternoon session but index-linked counters slowly fizzled out towards closing. KLCI eked 0.99 pts to finish at 841.87.
There was some nibbling on MISC, Public Bank and Sime shares, especially Public Bank which had fallen in recent days due to concerns about the impact of a weakening economy on its earnings.
KNM was the most active following its managing director Lee Swee Eng's statement that he would consider leading a management buyout as long as banks could raise the funds.
The Key Indicator (Blue) of the Daily MSO Chart showed more positive signs after today’s trade. The Indicator continued to edge higher and pierced through the 50-Days Average after cutting 20-days Average yesterday. Meanwhile, the Indicator also stays above the triangular passage to indicate a stronger posture.
The Indicator is now at -21.03 gained 25.70 pts.
Market should be better if US market continues to stabilize. (Click on Chart to view)
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