Asian shares fell Monday as investors digested China's latest move to curb the flood of money sloshing around its economy and awaited a meeting later in the week between the U.S. and Chinese presidents.
China's central bank uses increases in bank reserves to help reduce the amount of cash circulating in the economy. A frenzy of lending over the past two years has helped China rebound quickly from the global crisis. But, combined with bad weather and rising global commodity prices, it has complicated efforts to cool inflation. (Yahoo)
After 5.00pm, Asian major markets mostly ended lower with Japanese market eked up 0.04%, China tumbled 3.02%, Hong Kong 0.52% and Singapore 0.23%.At the local front, FBMKLCI zigzagged sideways after making a gain of about 5 points on opening. However, last minute buying lifted the index to end at its day-high at 1,574.49 (+4.60/0.29%). Total Volume was 1,906m (-237m).
Market sentiment again receded from firm notes to weakness with the Oscillator sliding all the way down. Again, last minute nibbling pulled the Oscillator to end in positive territories at +8.27 lost 1,585.19 when comparing with its starting point. The Average recorded a gain of 178.58.
ConclusionIn the MSCD, K% Line (yellow) recorded as +201.43 (-4.15), D% Line (red) +183.09 (-0.36) and the Histogram +103.43 (-21.27).
After today’s trade, both key indicators moved sideways but the Histogram printed yet another shorter bar.
Technically, Market sentiment was not as strong as before as evident by the shrinking volume. Those who have pocketed their gains opted to sideline due to the freezing high index as well as the Chinese New Year mood. However, market base is still strong. There were investors nibbling on pull-back stocks. 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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