Technically, overall market sentiment has progressed into a cautiously optimistic situation. However, the shrinking volume is evident that participation remains scarce.
Asian stock markets were mixed Friday, as shares in Shanghai fell on lingering concerns over potential tightening measures, while tensions in the Middle East capped buyers in the Tokyo market.
Metal and cement producers led declines in China on lingering concerns about further tightening measures from Beijing. A report Friday in the state-run China Securities journal citing several unnamed analysts as saying that the central bank may hike the reserve requirement ratio for banks in the near term added to these concerns.
"Investors are inclined to stay on the sidelines as they fret over the potential for more tightening over the weekend, so some stocks, like cement producers, are succumbing to profit-taking after recent sharp rises," said Zhang Gang, an analyst at Central China Securities. (WSJ)
On closing, Japanese market up by 0.06%, Hong Kong 1.26%, Singapore 0.13% but China down by 0.92%,
At the local front, FBMKLCI was seen climbing an uphill with not much difficulty for the whole session but, again, last minute selling pushed it down by more than 2 points.
The index ended off high at 1,517.56 (+9.00/0.60%). Total Volume was 1,498m (-239m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment was hesitant with the Oscillator swung up and down for the whole session. But last few minutes buying pulled it to end at its day-high at +464.20; gained 86.00 when compares with its starting point. The Average recorded a gain of 233.51.
Conclusion
Today, FBMKLCI staged a plausible performance but investor remains cautious while waiting for the announcement of the 2010 GDP. (As announced, 4Q2010 GDP was 4.8%, 2010 GDP was 7.2%)
Regret to say, the uptrend of the index is still cloudy as K% Line of MACD remains below D% Line and both soaked in the red. Indicators of RSI and Slow Stochastic are all below the 50% level. Worse still, Total Volume is shrinking. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -278.08 (+92.98), D% Line (red) -207.56 (+35.30) and the Histogram -89.49 (+4.74).
After today’s trade, both key indicators hooked up slightly and the Histogram printed its first shorter negative bar. Technically, overall market sentiment has progressed into a cautiously optimistic situation. However, the shrinking volume is evident that participation remains scarce. Hopefully, participants will return to market after the announcement of the commendable GDP figure.
Asian stock markets were mixed Friday, as shares in Shanghai fell on lingering concerns over potential tightening measures, while tensions in the Middle East capped buyers in the Tokyo market.
Metal and cement producers led declines in China on lingering concerns about further tightening measures from Beijing. A report Friday in the state-run China Securities journal citing several unnamed analysts as saying that the central bank may hike the reserve requirement ratio for banks in the near term added to these concerns.
"Investors are inclined to stay on the sidelines as they fret over the potential for more tightening over the weekend, so some stocks, like cement producers, are succumbing to profit-taking after recent sharp rises," said Zhang Gang, an analyst at Central China Securities. (WSJ)
On closing, Japanese market up by 0.06%, Hong Kong 1.26%, Singapore 0.13% but China down by 0.92%,At the local front, FBMKLCI was seen climbing an uphill with not much difficulty for the whole session but, again, last minute selling pushed it down by more than 2 points.
The index ended off high at 1,517.56 (+9.00/0.60%). Total Volume was 1,498m (-239m). (FBMKLCI Chart extracted from Jupiter)Overall market sentiment was hesitant with the Oscillator swung up and down for the whole session. But last few minutes buying pulled it to end at its day-high at +464.20; gained 86.00 when compares with its starting point. The Average recorded a gain of 233.51.
ConclusionToday, FBMKLCI staged a plausible performance but investor remains cautious while waiting for the announcement of the 2010 GDP. (As announced, 4Q2010 GDP was 4.8%, 2010 GDP was 7.2%)
Regret to say, the uptrend of the index is still cloudy as K% Line of MACD remains below D% Line and both soaked in the red. Indicators of RSI and Slow Stochastic are all below the 50% level. Worse still, Total Volume is shrinking. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -278.08 (+92.98), D% Line (red) -207.56 (+35.30) and the Histogram -89.49 (+4.74).After today’s trade, both key indicators hooked up slightly and the Histogram printed its first shorter negative bar. Technically, overall market sentiment has progressed into a cautiously optimistic situation. However, the shrinking volume is evident that participation remains scarce. Hopefully, participants will return to market after the announcement of the commendable GDP figure.
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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