The new Cabinet effect accelerated today though analysts are not really excited. KLCI kept on surging higher and higher even though Asian markets only edged up marginally. The Index was up by 20.65 points to 938.54. Gainers were also across the board.
Market sentiment was so upbeat that the Sentiment Oscillator stayed high around 1,000 points for the whole morning session and refused to settle down. This robust scenario has not been seen for more than a year. This is definitely a frying up as no significant data has shown financial situation of the country has improved. As such, cautiousness has to be taken while trading.
The Oscillator ended at +999.30 gained 44.37 pts when compared with +954.93, the starting point. Average Volume decreased from 6.87m/mn to 3.32 m/mn.
This afternoon, market sentiment should continue to be strong but profiting taking will cap its strength before closing. (Click on chart to view)
Market sentiment was so upbeat that the Sentiment Oscillator stayed high around 1,000 points for the whole morning session and refused to settle down. This robust scenario has not been seen for more than a year. This is definitely a frying up as no significant data has shown financial situation of the country has improved. As such, cautiousness has to be taken while trading.
The Oscillator ended at +999.30 gained 44.37 pts when compared with +954.93, the starting point. Average Volume decreased from 6.87m/mn to 3.32 m/mn.
This afternoon, market sentiment should continue to be strong but profiting taking will cap its strength before closing. (Click on chart to view)
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