Malaysia Market – End of the Day

Asian investors jumped back into equities on Monday, sending stocks up. U.S. jobs data and a weekend agreement by the G20 to keep economic stimuli running were generally supportive of riskier assets.

Wall Street is closed for the Labor Day holiday, tonight.

At the local front, FBM KLCI, lifted by gains at finance stocks and select blue chips, surging higher and higher to close at its high at 1,190.39 gained 11.65 or 0.99%. Total Volume increased by 99 mln to 708 mln.

Market sentiment turned robust in the afternoon session with the Oscillator jumped and cut its Average immediately after the break. The oscillator ended at +435.13 gained 214.95 from the starting point. The Average recorded a gain of 204.44.

The Key Indicator (Blue) of the Daily MSO Chart hooked higher to cut MS20 but remained in red at -41.90 gained 62.47. Both MS20 and MS50 hooked slightly up.

Conclusion
After today’s trade, MS5 cut MS20 but not decisive enough. MS5 is facing upwards and prepare to break the upper trend line. Until and unless both Indicators return to positive area, else, the rally might be short-lived.
(Constructed and Shared by Smartbiz)