Asian stocks climbed for a third day after Japan proposed more than doubled stimulus spending and Chinese lending jumped by a record. But, sentiments were also cautious ahead of a busy week with a number of big US banks scheduled to release their latest quarterly earnings. Both Hong Kong and Singapore were up by nearly 3% but Japan edged down a bit by 0.44%
Malaysian market succumbed to profit taking after rising for a few days. But selling was well absorbed during the afternoon session especially on second liners and penny Stocks.
Malaysian market succumbed to profit taking after rising for a few days. But selling was well absorbed during the afternoon session especially on second liners and penny Stocks.
KLCI, which was ripe for a correction, lost nearly 5 points during the morning session. But afternoon buying by investors offset the loss and finished with gains of 0.03points to 941.41, instead.
Among others, KNM Group Bhd, a Malaysian oil and gas services provider, rose 3.37 per cent to 46 sen, the highest level since January 19. RHB Research raised its stock rating to “outperform” from “underperform” to reflect a stronger order book. Its target price also increased to 63 sen from 39 sen.
As expected, the key Indicator (Blue) of the Daily MSO Chart hooked down after setting a new high last Friday. The Indicator ended at +190.29 lost 59.14 points.
After upbeat for more than 3 weeks, the sentiment Indicator eventually formed a new uptrend channel. However, this type of open-end channel is temporarily and will not be lasting long. Market sentiment has to cool down and depict yet another traditional channel which has two parallel borders.
Having said that, market sentiment should remain strong for some times if there is no major event on stage. Any pull back will be well supported. (Click on Chart to view)
Among others, KNM Group Bhd, a Malaysian oil and gas services provider, rose 3.37 per cent to 46 sen, the highest level since January 19. RHB Research raised its stock rating to “outperform” from “underperform” to reflect a stronger order book. Its target price also increased to 63 sen from 39 sen.
As expected, the key Indicator (Blue) of the Daily MSO Chart hooked down after setting a new high last Friday. The Indicator ended at +190.29 lost 59.14 points.
After upbeat for more than 3 weeks, the sentiment Indicator eventually formed a new uptrend channel. However, this type of open-end channel is temporarily and will not be lasting long. Market sentiment has to cool down and depict yet another traditional channel which has two parallel borders.
Having said that, market sentiment should remain strong for some times if there is no major event on stage. Any pull back will be well supported. (Click on Chart to view)
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