Malaysia Market – End of the Day

This morning, most Asian stocks rose, led by automakers and mining companies, as Nomura Holdings Inc. turned “bullish” on Japan’s auto industry and commodity prices rose. But the sharp fall of China’s Shanghai Composite Index in the afternoon dampened market sentiment and almost all regional bourses slipped into red.

The Shanghai Composite, which tracks the bigger of China’s stock exchanges, dropped 125.30, or 4.30 percent.

At the local front, FBM KLCI followed its peers fell deeper in the afternoon and closed at 1,155.53 lost 8.88 or 0.76%. Total Volume decreased by 128 mln shares to 875 mln shares.

Market sentiment turned from bad to worst after China market’s sharp fall. The Oscillator ended at -875.35 lost 777.60 from the starting. The Average recorded a loss of 592.13.

The Key Indicator (Blue) of the Daily MSO Chart fell deeper but in slower pace to -204.79 lost 18.05. Both MS20 and MS50 are facing down. MS50 fell into red at -11.36.

Conclusion

Though MS50 has fallen into red but, fortunately, it only dips by 11.36 points. Technically, we still can’t confirm market’s bearish status. However, once MS50 fell into red, market sentiment will be more fragile and vulnerable to any adverse impact. (Constructed and Shared by Smartbiz)