Malaysia Stock Market – End of the Day

Technically, overall market sentiment remains in hesitation and fewer decisions were made. However, window-dressing can be seen on certain big-caps as evident by the obvious upswing of the key index.

Asian stock markets rose modestly Wednesday after a $6.3 billion banking deal sent Wall Street to new two-year highs.

Trading was subdued ahead of Christmas holidays later this week, with most indexes fluctuating in a tight range.

"I think a holiday mood is there and I don't expect market turnover will increase a lot," said Linus Yip, chief strategist at First Shanghai Securities in Hong Kong. (Yahoo)

After 5.00pm, Asian major markets mostly ended weaker. Japanese market lost 0.23%, China 0.90%, Hong Kong eked up 0.22% and Singapore 0.14%.

At the local front, FBMKLCI stayed at high plateau after gaining about 8 points in an hour’s trade. The index was seen lingering at the same level for the rest of the session but last minute buying pulled it to end at its day-high at 1,515.05 (+9.87/0.66%). FBMKLCI Pivot Point was 1,511.67 (+9.24) and Total Volume 1,253m (-108m).

Market sentiment, on the contrary, progressed from good to bad even FBMKLCI traded in gain. The Oscillator was seen sliding into the red but last few minutes buying pulled it to end at +53.21 lost 381.04 when comparing with its starting point. The Average recorded a gain of 30.67.

Conclusion

Market sentiment didn’t really cheered by the continuous strength of the key index, instead, enthusiasm receded gradually. The less excited local and regional markets should be partly due to the approaching long holiday. On the other hand, countries at the Korean peninsula staged their face-off again by renewed military actions after yesterday’s peaceful gesture. Investors prefer to wait after the holiday and when situation is clearer.

In MSCD, K% (yellow) recorded as -41.11 (+13.05), D% (red) -65.94 (+7.73) and the Histogram +2.42 (+5.60).

After today’s trade, both key indicators edged up slightly and the Histogram casts its first positive bar but unnoticeable.

Technically, overall market sentiment remains in hesitation and fewer decisions were made. However, window-dressing can be seen on certain big-caps as evident by the obvious upswing of the key index.

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.)