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Wednesday, December 15, 2010

Malaysia Stock Market – End of the Day

Meantime, the resilience shown by Malaysia market is under test again. Whether the psychological level can be hold or not will depend on the performance of regional markets.

Asian shares were sluggish Wednesday as deteriorating sentiment among Japanese companies offset solid U.S. retail sales figures. (Yahoo)

After 5.00pm, Asian major markets mostly ended lower with Japanese market down by 0.07%, China 0.54%, Hong Kong 1.95% and Singapore 0.94%.

At the local front, FBMKLCI fell again shortly after a 4-point gain and slid deeper in the afternoon session. Again, last minute manupulation pulled it to end off low at 1,509.10 (-1.48/0.10%). FBMKLCI Pivot Point was 1,509.36 (-0.45) and Total Volume 1,118m (-55m).

Market sentiment progressed from bad to worse as the Oscillator slid all the way down again but buying during last few minutes pulled it to end off low at -271.67 lost 522.57 when comparing with its starting point. The Average recorded a loss of 217.07.

Conclusion

Today, market confidence was eroded deeper as the index followed regional markets falling nearer and nearer to the important psychological 1,500 level. A lot of counters were seen losing their initial supports due to more profit selling. Investor sentiment, weighted by the falling index, responded even more pessimistic than yesterday, as observed.

In MSCD, K% (yellow) was recorded as -56.50 (-39.00), D% (red) -71.07 (-16.01) and the Histogram +15 (+16.21).

After today’s trade, both key indicators hooked further down and K% Line is nearer to D% Line now. The Histogram printed a shorter negative bar but remains in the red.

Market sentiment is progressing in softer path though still hoping for a more stable regional market. Meantime, the resilience shown by Malaysia market is under test again. Whether the psychological level can be hold or not will depend on the performance of regional markets.

Constructed and Written by Smartbiz (Click on chart to view)

(Note: You can read the explanation for Intra-Day MSO and MSCD from the achieves under heading "Labels" at the lower portion of the sidebar.)

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