Malaysia Market – End of the Day

Asian stocks drifted lower after hitting a one-year high earlier on Wednesday and as investors, hopeful of an economic recovery, held back from moving more money into risky assets. However, some analysts believe that investors who were slow to seize on the rally in stocks and commodities this year may buy on any pull-backs in coming months, keeping risky assets underpinned.

At the local front, FBM KLCI noise dived immediately after the opening bell and sliding gradually towards closing. The Index finished at 1,196.46 lost 5.61 or 0.47%. Total Volume decreased by 144 mln to 647 mln.

Market sentiment was in doldrums whole day with the Oscillator fell deeper and deeper to end at -318.35 lost 394.66 from the starting point. The Average recorded a loss of 129.97.

The Key Indicator (Blue) of the Daily MSO Chart continued to move higher and cut MS50. The Indicator is now at +100.13 gained 37.40. Both MS20 and MS50 are facing down.

Conclusion
The Key Indicator, MS5, cuts MS50 after today’s trade further confirms its upward strength.

Unfortunately, MS20 hooked down and remains in red indicating uptrend is still vulnerable to both internal and external factors.

Tomorrow, if KLCI didn’t stabilize, the fall will send an adverse effect to the MSO and halt the rally. As mentioned before, the rally will be short-lived. (Constructed and Shared by Smartbiz)