Malaysia Stock Market – End of the Day

Technically, overall market sentiment has become softer might be due to holiday mood.

Asian stock markets fell in light trading Friday, led lower by automakers after officials in China, the world's biggest auto market and announced plans to sharply limit new vehicle registrations in traffic-congested Beijing.

"Carmakers have had a good past year or two," said Ben Kwong, chief operating officer at KGI Securities. But now, auto sales "have created a lot of social problems, such as air pollution and traffic congestion, so I think government policy is less friendly than before," he said.

Korean and Japanese automakers also lost ground. Hyundai Motor Co. tumbled 2.2 percent. Nissan, Honda Motor Co. and Toyota Motor Corp. also dipped. (Yahoo)

After 5.00pm, Asian major markets mostly ended lower with Japanese market down by 0.65% and China 0.70%, Hong Kong 0.30% but Singapore edged up 0.19%.

At the local front, FBMKLCI slid into the red shortly after the opening bell. The index then moved in tight range to end off low at 1,511.58 (-2.90/0.19%). FBMKLCI Pivot Point was 1,512.91 (-1.92) and Total Volume 835m (-416m).

Market sentiment progressed from bad to worse with the Oscillator sliding deep into the red and ended at -189.56 lost 180.00 when comparing with its starting point. The Average recorded a loss of 264.19.

Conclusion

On December 22, 9.31pm, I posted “Adventa 4Q profit surges 220% to RM11.8m”. On the following day (December 23), this counter jumped from 2.06 to 2.66 and was limited up. In fact, fundamentally, the price shouldn’t be so high if based on the reported profit which has actually been factored in. It was the rumors that it might be a takeover target that jacked up the price. Today, its price shot up to as high as 2.85 but receded towards closing at 2.48.

For today’s market, investors opted to take profit before the Christmas holiday amidst the volatile military situation in Asia. However, numbers of counters especially penny stock managed to success in window-dressing and closed with gains though battled by selling pressure.

In MSCD, K% (yellow) recorded as -86.64 (-32.27), D% (red) -84.84 (-14.35) and the Histogram +3.77 (-1.39).

After today’s trade, both key indicators curve further down and K% Line is a bit below D% Line now. The Histogram printed a shorter positive bar.

Technically, overall market sentiment has become softer and this might be due to the holiday mood.

Please be informed that today’s posting will be the last posting of Sensecents for the year 2010. Sensecents would like to take the opportunity of the forthcoming year-end holiday for a rest and will resume posting on 3rd of January, 2011.

Wishing everyone of you “A Merry Christmas and Happy New Year!”

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.)