Malaysia Market – End of the Day

Asian stocks advanced after U.S. consumer confidence gained and American home prices fell less than economists estimated. However, having already priced in an upturn in the global economy, investors were looking for more signs that growth can be sustained once the impact of massive government stimulus spending fades.

Volatility in Chinese shares has also kept investors guessing.

At the local front, FBM KLCI ended in positive note after hovering in the negative zone for the whole session. The Index closed at 1,172.56 gained 1.47 or 0.13%. Total Volume decreased only by 73 mln to 636 mln.

Market sentiment was seen swaying up and down in today’s trade as the Oscillator fell into red but managed to end at its high at +154.22 lost 12.74 from the starting point. The Average recorded a gain of 48.74.

The Key Indicator (Blue) of the Daily MSO Chart returned to black at +70.71 gained 128.17. Both MS20 and MS50 edged higher. MS50 is now at +13.84.

Conclusion
After today’s trade, MS5 has returned to black and cut MS20. Unfortunately, the breaking through is not decisive enough as all indicators are only marginally above the neutral line.

The thin volume shows market is still lack of determination to turn around.

We need some more positive actions to confirm the market reversal. (Constructed and Shared by Smartbiz)