Asian markets were mostly higher on March 31 on renewed investors’ hopes that a proposed stimulus plan by Japan could help reduce the impact of the global financial crisis.
Today, KLCI stayed mostly in positive zone but the Index failed to charge higher instead of going sideway. The Index gained anther 3.21 pts to 872.55. Some nibbling on banking stocks such as MayBank, Public Bank and Commerz helped to lift the Index higher. Water related counters like Puncak, PKS and Jaks also seen buying interest today.
However, the Key Indicator (Blue) of the Daily MSO Chart continued to face north as market sentiment lost steam after robust for three to four days. The Indicator shed 22.93 pts to -10.07 after today’s trade. A concern also arises as the Indicator is just 0.32 pts away from the 20-Days Average. Falling below the 20-Days Average will confirm its downtrend for the rest of the days. (Click on Chart to view)
Today, KLCI stayed mostly in positive zone but the Index failed to charge higher instead of going sideway. The Index gained anther 3.21 pts to 872.55. Some nibbling on banking stocks such as MayBank, Public Bank and Commerz helped to lift the Index higher. Water related counters like Puncak, PKS and Jaks also seen buying interest today.
However, the Key Indicator (Blue) of the Daily MSO Chart continued to face north as market sentiment lost steam after robust for three to four days. The Indicator shed 22.93 pts to -10.07 after today’s trade. A concern also arises as the Indicator is just 0.32 pts away from the 20-Days Average. Falling below the 20-Days Average will confirm its downtrend for the rest of the days. (Click on Chart to view)
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