Investors were cautious, however, ahead of all-important U.S. non-farm payroll data later in the day (1330 GMT). The report is expected to show the world's largest economy stopped shedding jobs last month for the first time since it fell into recession two years ago.
At the local front, FBM KLCI retreated after opening with about 4 points gain. The Index finished at 1,292.98 gained 1.56 or 0.12%. Daily FBMKLCI Average was 1,293.12 lost 0.71. Total Volume decreased by 438 mln to 1,036 mln.
Market enthusiasm failed to sustain with the Oscillator slid into red just after an hour of trading. But the Oscillator cut its Average and finished higher at -103.06, lost 435.43 from the starting point. The Average recorded a loss of 173.79.
After closing, MS5(Blue) of the Daily MSO Chart lost 39.85 points to +558.74. MS10 fell to +305.50 but MS20, +109.65.
(Click on charts for viewing)
The buying euphoria seen on Tuesday has gone and faded away quite hastily. However, selling was not as heavy as expected as volume was only slightly over 1 billion.
Today, last minute buying was seen across the board but volume was not notable. Next week, investors will be able to know whether or not this week’s rally was just a bearish-rally.
In the MSO, MS5 started to retreat but remains well above the positive level.
My Portfolio: Bought SAAG
(Constructed and Shared by Smartbiz)
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