Malaysia Stock Market – End of the Day

Technically, investor remains in full confidence as evident by the longer positive Histogram.

Asian shares were mostly higher Friday, recovering from earlier profit-taking, as traders awaited key U.S. jobs data later in the day.

"There is a mood of waiting to see the U.S. employment report, but sentiments are upbeat because the U.S. economy appears to be recovering," he said. "The Tokyo market is pretty solid." (Yahoo)

After 5.00pm, Asian major markets ended mixed with Japanese market eked up 0.11%, China 0.52% but Hong Kong shed 0.42%, Singapore 0.74%.

At the local front, FBMKLCI tumbled about 4 points on opening but recovered after an hour’s trade. The index managed to stay on high plateau most of the times and ended off high at 1,572.21 (+3.84/0.14%). Total Volume was 2,535m (+331m).

Market sentiment initially progressed in cautious mode but turned robust after seeing the index returning to positive zone. The oscillator accelerated into the 1,000 points level to end at its day-high at +1,141.59 gains 930.92 when comparing with its starting point. The Average recorded a gain of 744.22.

Conclusion

Market turned cautious after four exciting days. It is also a norm for investors to take profit and sideline during the last trading day of the week. On the other hand, regional markets were mute while waiting for the release of important job data from US tonight. However, overall sentiment was optimistic, today.

In the MSCD, K% Line (yellow) recorded as +512.45 (+42.13), D% Line (red) +268.52 (+38.07) and the Histogram +153.71 (+22.55).

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

Technically, investor remains in full confidence as evident by the longer positive Histogram. It is also true that volume has stayed at all time high and selling was well absorbed as proven by the aggressive daily oscillator.

At this moment, the question of when market will go for major correction seems not existing.

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.)