Malaysia Market – End of the Day

Stocks elsewhere in Asia posted modest gains, with investors keeping a wary eye on Chinese markets.

At the local front, FBM KLCI opened with deep loss but recouped some grounds to close at 1,171.28 lost 2.99 or 0.25%. Total Volume was very thin at 498 mln.

Market sentiment continued deteriorating with the Oscillator sliding all the way but ended off low at -333.78 lost 7.48 from the starting point. The Average recorded a loss of 339.78.

The Key Indicator (Blue) of the Daily MSO Chart noise dived in the red at -159.57 lost 119.75. MS20 fell into red at -33.99 but MS50 edged higher in black.

Conclusion

The extremely thin volume tells the whole story. Bad news reined the market. The uncertainties showed by the China market scares everybody and prefer to wait and see.

After today’s trade, MS5 depicts a very weak gesture again, accompanies by MS20. Though the long term base represented by MS50 has shown some improvement but short term trend is going downwards as depicted by both MS5 and MS20.

To sum up, present market is only suitable for long term investment but not for those who are waiting for technical rebound. (Constructed and Shared by Smartbiz)