Asian stocks jumped the most in five weeks and regional currencies rose as better-than-forecast earnings at Apple Inc. and Elpida Memory Inc. bolstered the global outlook for higher demand of goods and services. The euro weakened ahead of talks on conditions for Greece’s aid package. Among all, Thailand reopened its market with a gain of 5.74% as the chaos in city has calm down. (Bloomberg)
At the local front, FBM KLCI traded with gains in the morning session but slid into red in the afternoon session as investors took cautious steps amidst uncertainty of the Goldman Sachs case. The Index closed at its lowest point at 1,333.64, lost 2.26 or 0.17%. Daily FBMKLCI Average (or Pivot Point) was 1,335.48, lost 1.76. Total Volume increased by 79 mln to 875 mln.
Market sentiment started the day with continued enthusiasm but gradually faded away with the Oscillator ended at +235.01. The Average recorded a gain of 247.45.
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Today’s market sentiment defied movement of FBMKLCI stayed in positive zone whole day. FBMKLCI slid into red in afternoon session and closed at its lowest point of the day. The sudden slip of the Index near closing signals the strength of index-linked counters is weakening.
At day’s end, 12EMA (blue) of the MSCD lost 61.15 to -89.01, 26EMA (red) lost 24.39 to –57.32 and the Histogram, 46.76 to -31.69.
12EMA hooked further up but was still well below 26EMA. The Histogram casted an even shorter negative bar and formed a sharp base. But, the improvement didn’t support by 12EMA. Technically, market sentiment remains weak.
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(Written and constructed by Smartbiz)
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