Malaysia Market – End of the Day

Asian shares sagged on Wednesday after losses on Wall Street. China and Hong Kong markets fell deeply by nearly 5% and 3% respectively.

At the local front, FBM KLCI followed its peers fell by 5.74 points to end at 1,180.54. Total Volume decreased by 55 mln shares to 1,110 mln shares.

Market sentiment responded strongly to the sharp fall of China with panic selling across the board in the afternoon. The Oscillator fell deep but ended off low at -864.64 lost 723.75 from the starting. The Average recorded a loss of 501.90.

The Key Indicator (Blue) of the Daily MSO Chart hooked sharply down to +28.42 lost 115.03. Both MS20 and MS50 were facing down.

Conclusion
Today, the 96 points fall of Dow Jones is the excuse that market is looking for. The long awaited correction, though not deep, at least put the weeks-long upward swing a halt. Those who have indulged in the comfort of roller-coaster swing should take more precaution.


The fall also caused by the fatigue sign shown by China market due to unexpected figure of slower growth of the giant.


Tomorrow will be yet another hard fight battle. The odd is hard to predict as Malaysia market has always been resilient.


For the MSO Charts, the Key Indicator must not fall below the neutral line. If that happens, market will be considered as in bearish mood and take longer time to recover. (Constructed and Shared by Smartbiz)