Asian stocks rose on Wednesday as global markets halted recent losing streaks and posted modest gains on the back of solid earnings reports and positive broker comments, while investors await the outcome of debt issuance in the euro zone.
Financial shares were higher on foreign buying, market participants said, while trading houses climbed after rallies in oil, gold and other commodities prices. (Yahoo)
After 5.00pm, Asian major markets ended higher with Japanese market eked up by 0.02%, China up 0.56%, Hong Kong 1.54% and Singapore 0.08%. At the local front, FBMKLCI opened high but retraced to neutral line shortly. The index was then lingering around the same level most of the times but last hour optimism pulled it to end at 1,566.49 (+3.55/0.23%). Total Volume was 2,473m (-233m).
Market sentiment, again, opened in extreme excitement with the Oscillator started at 2,391 points. But, again, it receded fast into the red like yesterday. However, last minute buying pulled it to end at +299.38 lost 2,091.32 when comparing with its starting point. The Average recorded a gain of 161.78.
ConclusionMarket sentiment was unstable but rotational plays were seen on 3rd liners, today.
In the MSCD, K% Line (yellow) recorded as +346.23 (-33.52), D% Line (red) +231.06 (-5.54) and the Histogram +148.71 (-8.38).
After today’s trade, both key indicators fell slightly and the Histogram printed yet another shorter bar. Technically, market sentiment has turned weaker as the histogram started to form a round top. Buying spree stalled as key index failed to sustain its highs in several sessions. Investor is waiting for a clearer direction from the index before resuming a more aggressive strategy. But the last hour nibbling is also an indication of confidence in the future market.
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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