Malaysia Market – End of the Day

Asian stocks rose for a 10th day, driving the MSCI Asia Pacific Index to its longest winning streak since 2004, on confidence a rebound in regional economies will boost earnings. But analyst said Wall Street may take a breather this week after an earnings-driven rally lifted the major U.S. stock indexes to their highest levels in months. This will probably put global markets to halt after the long run.
FBM KLCI stayed in red whole day but managed to hop higher into positive zone during last minute trading. The Index ended at 1,156.43 gained 0.55. Total Volume decreased by 52 mln shares to 987 mln shares.
Market sentiment improved significantly in the afternoon session with the Intra-Day Oscillator climbing higher and higher in god volume. The Oscillator finished at +569.79 gained 361.79 from the starting. The Average recorded a gain of 272.79.
The Key Indicator (Blue) of the Daily MSO Chart fell by 12% to +193.61 lost 26.28.
Both 20MAV and 50MAV edged up but 20MAV still stayed below 50MAV.

Conclusion
Today’s market was extensively supported by 2nd Board counters. Punters put their bets on the merger of Main Board and 2nd Board next week - an arrangement which has been viewed as positive by many analysts. Syndicates also popped in to take advantage of the anticipated heat by pulling up share prices in advance. Some even so obvious that they just bought a hundred shares with a top-up of nearly 20 sen.
Will the retailers so naïve and so easily been trapped?
Based on MSO, market sentiment still stays in cautiousness though more and more retailers have started to make a sip.
One should also prepare for the imminent correction of US market, as predicted. (Constructed and Shared by Smartbiz)