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Thursday, December 23, 2010

Malaysia Stock Market – End of the Day

Technically, overall market sentiment remains cautious with activities on news-driven counters. 

Trading of Asia stocks was light ahead of Christmas holidays and with Japanese financial markets closed for the emperor's birthday.

"Trading is directionless since there are not very many incentives. Turnover is very quiet," said Samuel Chua, an analyst at KGI Securities in Hong Kong. "People are still concerned about possible tightening of monetary policy," he said. (Yahoo)

After 5.00pm, Asian major markets mostly ended lower with China market lost 0.79%, Hong Kong 0.62% and Singapore 0.06%. Japanese market closed for holiday.

At the local front, FBMKLCI fell about 4 points shortly after opening and hovering in a 2-points range for the rest of the session. The index eventually ended off low at 1,514.48 (-0.57/0.04%). FBMKLCI Pivot Point was 1,514.83 (+3.16) and Total Volume 1,251m (-2m).

Market sentiment subdued further but was able to sustain at a flat level since no deterioration from the key index. The Oscillator managed to end off low at -77.45 lost 470.75 when comparing with its starting point. The Average recorded a loss of 127.33.

Conclusion

Investor sentiment remained cautious but selective buying was seen on news-driven counters.

In MSCD, K% (yellow) recorded as -54.37 (-13.26), D% (red) -70.49 (-4.55) and the Histogram +5.16 (+2.74).

After today’s trade, both key indicators curved slightly down and the Histogram printed a slightly longer positive bar.

Technically, overall market sentiment remains cautious with activities on news-driven counters.

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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