Technically, overall market sentiment remains in doldrums and will continue to be volatile.
Asian stock markets sold off Wednesday after weakness in U.S. stocks Tuesday and a rise in oil prices as the turmoil in Libya continued.
"Concern about the spread of political unrest across the Middle East is weighing on equity markets," said Macquarie Private Wealth Investment Adviser John Milroy in Sydney. "The selling (in Australia) has been fairly indiscriminate considering that even the oil stocks have come under pressure," Milroy said, and added geopolitical pressures appear to have intensified, with Saudi Arabia's share market down 6.8% on Tuesday. (WSJ)
At closing, Japanese market lost 2.43%, China 0.16%, Hong Kong 1.49% and Singapore 1.23%.
At the local front, FBMKLCI tumbled as much as 14 points shortly after opening. The index, though recovered part of the losses but lingering in the red for the remaining session. However, last hour buying pulled the index to end just 3 points away from yesterday’s closing at 1,499.28 (-2.96/0.20%). Total Volume was 1,363m (+246m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment succumbed to panic selling and progressed in pessimism for the whole session. The Oscillator slid to end at -2,063.22; lost 651.10 when compares with its starting point. The Average recorded a loss of 1,947.28.
Conclusion
Today, FBMKLCI reversed to its downward trajectory as Dow Jones lost 1.38% last night and Nikkei lost more than 2%, today. However, the index showed its resilience by recovering most of its losses and ended just about 3 points below the par line.
Based on charts, the index is still capped within the downtrend channel but elsewhere, all indicators mentioned yesterday continue to show their optimistic outlooks. (Chart extracted from ChartNexus)
In the MSCD, K% Line (yellow) recorded as -820.08 (-204.87), D% Line (red) -589.20 (-108.69) and the Histogram -195.28 (+8.90).
After today’s trade, both indicators hooked down again and the Histogram printed another longer negative bar. Technically, overall market sentiment remains in doldrums and will continue to be volatile.
Asian stock markets sold off Wednesday after weakness in U.S. stocks Tuesday and a rise in oil prices as the turmoil in Libya continued.
"Concern about the spread of political unrest across the Middle East is weighing on equity markets," said Macquarie Private Wealth Investment Adviser John Milroy in Sydney. "The selling (in Australia) has been fairly indiscriminate considering that even the oil stocks have come under pressure," Milroy said, and added geopolitical pressures appear to have intensified, with Saudi Arabia's share market down 6.8% on Tuesday. (WSJ)
At closing, Japanese market lost 2.43%, China 0.16%, Hong Kong 1.49% and Singapore 1.23%.
At the local front, FBMKLCI tumbled as much as 14 points shortly after opening. The index, though recovered part of the losses but lingering in the red for the remaining session. However, last hour buying pulled the index to end just 3 points away from yesterday’s closing at 1,499.28 (-2.96/0.20%). Total Volume was 1,363m (+246m). (FBMKLCI Chart extracted from Jupiter)Overall market sentiment succumbed to panic selling and progressed in pessimism for the whole session. The Oscillator slid to end at -2,063.22; lost 651.10 when compares with its starting point. The Average recorded a loss of 1,947.28.
ConclusionToday, FBMKLCI reversed to its downward trajectory as Dow Jones lost 1.38% last night and Nikkei lost more than 2%, today. However, the index showed its resilience by recovering most of its losses and ended just about 3 points below the par line.
Based on charts, the index is still capped within the downtrend channel but elsewhere, all indicators mentioned yesterday continue to show their optimistic outlooks. (Chart extracted from ChartNexus)
In the MSCD, K% Line (yellow) recorded as -820.08 (-204.87), D% Line (red) -589.20 (-108.69) and the Histogram -195.28 (+8.90).After today’s trade, both indicators hooked down again and the Histogram printed another longer negative bar. Technically, overall market sentiment remains in doldrums and will continue to be volatile.
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.)
No comments:
Post a Comment