Regional markets were in positive territory Friday as higher than expected earnings in US consumer-based companies as well as recent reports that US house sales and durable-goods orders were up spurred optimism that the worst may be over. But, profit taking at the afternoon session trimmed most of the gains as Japan fell 0.11%, Hong Kong eked 0.07% and Singapore fell 0.75%.
Gains of Malaysian market also succumbed to selling with the key Index KLCI gave back the 5 points gains and moved sideway in most of the day. The Index finished at 885.43 lost 0.04pts.
Maybank Investment Bank Bhd chief chartist Lee Cheng Hooi said any rebound on the benchmark index would attract selling pressure as investors and traders cash in their gains in a volatile trading environment.
The Key Indicator (Blue) of the Daily MSO Chart added 0.72 pts to +57.65 after today’s trade. Today’s total volume decreased to 455 mln shares.
Market sentiment remains intact. (Click on Chart to view)
Gains of Malaysian market also succumbed to selling with the key Index KLCI gave back the 5 points gains and moved sideway in most of the day. The Index finished at 885.43 lost 0.04pts.
Maybank Investment Bank Bhd chief chartist Lee Cheng Hooi said any rebound on the benchmark index would attract selling pressure as investors and traders cash in their gains in a volatile trading environment.
The Key Indicator (Blue) of the Daily MSO Chart added 0.72 pts to +57.65 after today’s trade. Today’s total volume decreased to 455 mln shares.
Market sentiment remains intact. (Click on Chart to view)
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