Asian stocks fell deeper in the afternoon session with Singapore and Hong Kong markets both slipped by more than 2%.
In the local front, FBM KLCI, again, showed its resilience to adverse situation eked 0.91 points after lingering in the red for the whole afternoon. The Index ended at 1,184.88. Total Volume decreased by 11 mln shares to 1,014 mln shares.
Market sentiment remained weak in the afternoon session with the Oscillator sliding to end off low at -274.80 lost 460.89 from the starting. The Average recorded a loss of 235.47.
The Key Indicator (Blue) of the Daily MSO Chart hooked sharply lower to +115.53 lost 234.29.
Both MS20 and MS50 edged slightly lower.
Selling pressure accelerated with high volume this afternoon after seeing major Asian market tumbled by over 2% even though the FBMKLCI stayed calm all the time. Presumably, Asian investors have foreseen an unfavorable employment data from US tonight.
The uptrend showed by MSO a day before was hurt but remains intact, at this moment. The unemployment data of US to be announced tonight has its weight on the local market on Monday. But our local market has been well known for its resilience, impact would be well absorbed. (Constructed and Shared by Smartbiz)
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