At the local front, FBM KLCI opened firmer in the morning, but gave up early gains as it slipped into red in the absence of fresh leads. However, the Index managed to finish almost neutral at 1,260.00 gained 0.10 or 0.001%. Daily FBMKLCI Average was 1,260.20 gained 1.89. Total Volume decreased by 48 mln to 528 mln.
Market sentiment failed to cheer up again even opened in positive notes. The oscillator went downhill but last minute buying pulled it up to finish at -2.63, lost 119.64 from the starting point. The Average recorded a loss of 27.89.
MS5(Blue) of the Daily MSO Chart continued to edge up to -74.19, gained 2.83. MS10 climbed to -148.32 and MS20, -156.46.
(Click on charts for viewing)
It has been almost two weeks that market was playing the same scenario on stage: A positive start but eventually offset by profit taking then volume increased before closing. Punters just refused to hold stocks for any longer than three sessions.
In the MSO, MS5 though remains in red but shows some progress. The Indicator refused to stay below MS10 and MS20 is another signal that market is building its base but in small scale.
Market is waiting for positive lead especially from the US market to revitalize its lackluster mood. Unfortunately, based on charts, US market is still surrounded by uncertainties.
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