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Thursday, August 20, 2009

Malaysia Market – End of the Day

Asian stocks gained, lifting Chinese equities from a bear market. China market regained its ground by 4.52%, today.

“The consensus remains among investors that the global economy is on course for a recovery, but we have to see further improvement in the economy and company earnings for markets to go up higher,” said Kiyoshi Ishigane, a strategist at Mitsubishi UFJ Asset Management Co., which oversees about $53 billion.

At the local front, FBM KLCI was steady, climbing uphill whole day. The Index closed at 1,163.43 gained 7.90. Total Volume decreased by 191 mln to 684 mln.

Market sentiment was seen swaying up and down. But the Oscillator managed to end at its highest point and cut its Average decisively, at closing. The Oscillator finished at +374.04 gained 50.87 from the starting. The Average recorded a gain of 302.59.

The Key Indicator (Blue) of the Daily MSO Chart fell deeper to -326.04 lost 121.25. Both MS20 and MS50 were moving flat. MS50 is now at -13.60.

Conclusion
Even though China has recouped almost all of yesterday’s losses, local investors, who were scared by its flip-flop shows, were not convinced. Today, gainers were seen across the board but gains were minimal. Volume shrank tremendously.
Equities investment has become more difficult as investors now have to deal with a two-headed snake; one represents the US market and the other, the China market.
The Key Indicator failed to edge up because the Oscillator didn’t show enough strength to lift it up in today’s trade due to extremely thin volume. It is anticipated that market sentiment will continue to be weak for days as investors opted to sideline amidst uncertainties in both US and China markets. (Constructed and Shared by Smartbiz)

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