Malaysia Market – End of the Day

This afternoon, Asian share markets were largely steady, while Shanghai shares recouped 1.69% from yesterday’s 5% losses.
FBM KLCI was seen zigzagging in the negative zone whole day and finished off low at 1,160.66 lost 3.82. Total Volume decreased by 514 mln shares to 788 mln shares.
Market sentiment was resilient seeing most Asian bourses recovered from yesterday’s losses. The Intra-Day Oscillator lingering between negative and positive zones but finished at +215.46 gained 161.80 from the starting. The Average recorded a loss of 31.83.
The Key Indicator (Blue) of the Daily MSO Chart fell below the 20MAV and lost 72.96 to +104.88. The Indicator lost 70% from its previous high +349.71.
20MAV edged up slightly and 50MAV was flattish.

Conclusion
Surprisingly, Asian markets recovered swiftly from yesterday’s sharp fall. Look like the base built in the last 11days were not seriously hurt. US market now plays an important role to support the recovery, tonight.
Locally, most counters managed to recover from deep losses suffered in the morning session. Gainer was eventually out beat loser 353 to 240.
With other Asian bourses were seen recovering, our local market should be stabilized in forward trading. However, investors have turned extremely cautious after been scared by yesterday’s slumping.
But, active counters like Tebrau, Dutalnd, Jaks, SAAG and Lioncor will not stay quiet as syndicates were seen returning to stage.
The MSO has shown some softness. The falling of the Indicator is the result of yesterday’s sharp fall. The Indicator will stay in black if market continues to stabilized (Constructed and Shared by Smartbiz)