It is dreadful to think about how market is going to absorb more than 3 billion shares to be due by tomorrow.
Asian shares fell on Wednesday after China's latest rate hike, with a number of mainland property and resource stocks down throughout the trading day.
Markets had largely expected further monetary tightening measures from the People's Bank of China (PBOC) but the exact timing of the rate rise was a surprise coming on the last day of the Lunar New Year holiday. (MarketWatch)
After 5.00pm, Japanese market down by 0.17%, China 0.92%, Hong Kong 1.36% and Singapore 1.09%.
At the local front, FBMKLCI opened with gains but shortly tumbled into the red and lost about 9 points from the starting point. The index then moved sideways but picked up after the break. However, the index failed to return to the black and ended off low at 1,536.07 (-3.48/0.23%). Total Volume was 2,196m (-982m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment followed the index receded to negative tone but picked up in the afternoon session. The Oscillator recouped some losses to end off low at -718.76 lost 915.61 when comparing with its starting point. The Average recorded a loss of 997.05.
Conclusion
In the MSCD, K% Line (yellow) recorded as +51.37 (-190.55), D% Line (red) +0.02 (-79.80) and the Histogram -3.28 (+13.66).
After today’s trade, both key indicators tumbled and gap was narrowed significantly. The Histogram hopped into positive zone but the bar is short and vague. Although all indicators still remain in positive area but the significant shrinking volume is a factual threat to their postures. It is dreadful to think about how market is going to absorb more than 3 billion shares to be due by tomorrow.
Today, most regional markets were dragged by the China market after a rate hike of the central bank. FBMKLCI fell and supported by its 12-Day SMA around 1,534. Based on charts, the upswing trend of the index has been temporarily tripped by the regional performance and its consolidation will be prolonged. Its supports now lie at 1,533, 1,523. Its previous high 1,544 has turned into a resistance.
(Chart extracted from 188OMS)
Asian shares fell on Wednesday after China's latest rate hike, with a number of mainland property and resource stocks down throughout the trading day.
Markets had largely expected further monetary tightening measures from the People's Bank of China (PBOC) but the exact timing of the rate rise was a surprise coming on the last day of the Lunar New Year holiday. (MarketWatch)
After 5.00pm, Japanese market down by 0.17%, China 0.92%, Hong Kong 1.36% and Singapore 1.09%.At the local front, FBMKLCI opened with gains but shortly tumbled into the red and lost about 9 points from the starting point. The index then moved sideways but picked up after the break. However, the index failed to return to the black and ended off low at 1,536.07 (-3.48/0.23%). Total Volume was 2,196m (-982m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment followed the index receded to negative tone but picked up in the afternoon session. The Oscillator recouped some losses to end off low at -718.76 lost 915.61 when comparing with its starting point. The Average recorded a loss of 997.05.
ConclusionIn the MSCD, K% Line (yellow) recorded as +51.37 (-190.55), D% Line (red) +0.02 (-79.80) and the Histogram -3.28 (+13.66).
After today’s trade, both key indicators tumbled and gap was narrowed significantly. The Histogram hopped into positive zone but the bar is short and vague. Although all indicators still remain in positive area but the significant shrinking volume is a factual threat to their postures. It is dreadful to think about how market is going to absorb more than 3 billion shares to be due by tomorrow.
Today, most regional markets were dragged by the China market after a rate hike of the central bank. FBMKLCI fell and supported by its 12-Day SMA around 1,534. Based on charts, the upswing trend of the index has been temporarily tripped by the regional performance and its consolidation will be prolonged. Its supports now lie at 1,533, 1,523. Its previous high 1,544 has turned into a resistance.(Chart extracted from 188OMS)
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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