Malaysia Stock Market – End of the Day

As the Histogram continued to print longer bars, market sentiment will be strong enough to absorb any selling impact and thus provides opportunities to enter.

Japanese shares rallied on Thursday as investors snapped up shares of Japanese exporters after the dollar hit two-week highs against the yen, but markets elsewhere in Asia were more subdued ahead of the influential U.S. non-farm payrolls report.

The Nikkei breached the psychologically important barrier of 10,500 after the ADP Employer Services report showed U.S. private employers added 297,000 jobs in December, the largest ever gain and exceeding market expectations for 100,000.

The jobs figures come two days ahead of the U.S. government's closely watched and more comprehensive payrolls report for December, prompting economists to raise forecasts for that data. (Yahoo)

After 5.00pm, Asian major markets ended mostly higher with Japanese market added 1.44%, Hong Kong 0.12%, Singapore 0.65% but China down by 0.51%.

At the local front, FBMKLCI staged another new high this morning but retreated after half an hours trade due to profit taking. The index managed to stay around the neutral level and ended off low at 1,568.37 (+2.20/0.14%). Total Volume was 2,204m (-142m).

Market sentiment started extremely robust with the Oscillator opened more than 2,000 points gain but swiftly receded in less than half an hours as selling prevailed. However, the oscillator rebounded after the break and ended at +1,358.76 lost 727.06 when comparing with its starting point. The Average recorded a gain of 747.85.

Conclusion

Market enthusiasm in early session couldn’t stand the selling pressure and receded. Besides the deadline of T+3, the falling key index which has already at the freezing high is also part of the cause. However, it is noted that selling was well absorbed as prices of various active counters were not declined significantly.

Today, stock brokering firms such as OSK, TA and PMCap got a boost from news that MayBank is to acquire 44.6% of Kim Eng Holding, a broker firm operated in Singapore.

In the MSCD, K% Line (yellow) recorded as +470.32 (+50.42), D% Line (red) +230.45 (+41.40) and the Histogram +131.16 (+27.18).

After today’s trade, both key indicators continued to face north and the Histogram printed an even longer positive bar.

Technically, market sentiment remains strong and didn’t derail by the selling today. As the Histogram continued to print longer bars, market sentiment will be strong enough to absorb any selling impact and thus provides opportunities to enter.

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.)