Asian stocks fell on Monday as weak U.S. consumer confidence data weighed on markets. Japan, China and Hong Kong markets all tumbled by more than 2%.
FBM KLCI also plummeted immediately after the opening bell but the Index found its strong support around 1,175 to end at 1,176.01 lost 12.56. Volume decreased by 211 mln to 419 mln.
Market sentiment started with hopes but failed to defy the pessimistic signals sent out by other Asian bourses and turned sour. The Oscillator sank straight into the red but ended off low at -785.58 lost only 8.72 from the starting. The Average recorded a loss of 793.47.
As Asian bourses are mostly in bad shapes, we can only hope for a flattish afternoon for the Index. But, it is anticipated punters will pick up those active low liners once the Index has stabilized. (Constructed and shared by Smartbiz)
FBM KLCI also plummeted immediately after the opening bell but the Index found its strong support around 1,175 to end at 1,176.01 lost 12.56. Volume decreased by 211 mln to 419 mln.
Market sentiment started with hopes but failed to defy the pessimistic signals sent out by other Asian bourses and turned sour. The Oscillator sank straight into the red but ended off low at -785.58 lost only 8.72 from the starting. The Average recorded a loss of 793.47.
As Asian bourses are mostly in bad shapes, we can only hope for a flattish afternoon for the Index. But, it is anticipated punters will pick up those active low liners once the Index has stabilized. (Constructed and shared by Smartbiz)
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