Overall market sentiment remains fragile as the last minute buying was just a sign of light nibbling on cheap shares. This was witnessed by the low volume (931m).
Asian stock markets were almost all higher Wednesday, with the Tokyo market rebounding despite news of another spike in radiation levels at an earthquake-damaged nuclear complex.
"It appears that equity markets in the region have been hit so hard that they are oversold," said Macquarie Private Wealth division director Martin Lakos. "But the markets are going to react to whatever news comes out of Japan. This is about risk aversion rather than fundamental values or the impact on global growth." (WSJ)
At closing, Japanese market gained 5.68%, China 1.20%, Hong Kong 0.10%, Singapore 0.91% and Malaysia 0.46%.
FBMKLCI
FBMKLCI opened with gains of more than 6 points but retreated fast due to continuous profit taking. The index was seen hovering within a 2-point range in the morning session but edged higher during late afternoon as selected buying emerged across the board. The index ended at its day-high at 1,492.44 (+8.03/0.56%). Total Volume was 931m (-521m), gainer 548 and loser 197. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment
Market sentiment started the morning cheerfully but receded fast. Sentiment only picked up in the late hour as investor started to hunt for cheap shares. The Oscillator surged to cut its Average to end at its day-high at +728.51; gained 197.61 when compares with its starting point. The Average recorded a loss of 291.69.
Conclusion
Scary investors remained cautious even Japanese market has stabilized today. Investors are waiting for clearer pictures on the uncertainties of Japanese economy and the consequences of the ruining nuclear plants. At the same time, tussle in the Middle-East remains as immediate concern.
FBMKLCI broke its first resistance at 1,490 and facing the formidable 1,500 level again after today’s recovery. The trend of the index remains uncertain because indicators of the chart show mixed signals. Its immediate resistance is 1,500 and follows by 1,505, the Middle Bollinger Band. First support has shifted to 1,490 and then 1,474. (Chart extracted from ChartNexus)
After closing, %K Line (yellow) of MSCD recorded as -383.75 (+122.76), %D Line (red) -373.06 (+53.20) and the Histogram -1.65 (-2.26). Both indicators hooked slightly up but the Histogram was printed in the red zone.
Overall market sentiment remains fragile as the last minute buying was just a sign of light nibbling on cheap shares. This was witnessed by the low volume (931m). Meantime, there is no solid support for the market to really cheer up. We only look at the bright side after %D of MSCD surged and broke the resistance line of the downtrend channel as shown in the MSCD.
Asian stock markets were almost all higher Wednesday, with the Tokyo market rebounding despite news of another spike in radiation levels at an earthquake-damaged nuclear complex.
"It appears that equity markets in the region have been hit so hard that they are oversold," said Macquarie Private Wealth division director Martin Lakos. "But the markets are going to react to whatever news comes out of Japan. This is about risk aversion rather than fundamental values or the impact on global growth." (WSJ)
At closing, Japanese market gained 5.68%, China 1.20%, Hong Kong 0.10%, Singapore 0.91% and Malaysia 0.46%.
FBMKLCI FBMKLCI opened with gains of more than 6 points but retreated fast due to continuous profit taking. The index was seen hovering within a 2-point range in the morning session but edged higher during late afternoon as selected buying emerged across the board. The index ended at its day-high at 1,492.44 (+8.03/0.56%). Total Volume was 931m (-521m), gainer 548 and loser 197. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment Market sentiment started the morning cheerfully but receded fast. Sentiment only picked up in the late hour as investor started to hunt for cheap shares. The Oscillator surged to cut its Average to end at its day-high at +728.51; gained 197.61 when compares with its starting point. The Average recorded a loss of 291.69.
Conclusion
Scary investors remained cautious even Japanese market has stabilized today. Investors are waiting for clearer pictures on the uncertainties of Japanese economy and the consequences of the ruining nuclear plants. At the same time, tussle in the Middle-East remains as immediate concern.
FBMKLCI broke its first resistance at 1,490 and facing the formidable 1,500 level again after today’s recovery. The trend of the index remains uncertain because indicators of the chart show mixed signals. Its immediate resistance is 1,500 and follows by 1,505, the Middle Bollinger Band. First support has shifted to 1,490 and then 1,474. (Chart extracted from ChartNexus) 
After closing, %K Line (yellow) of MSCD recorded as -383.75 (+122.76), %D Line (red) -373.06 (+53.20) and the Histogram -1.65 (-2.26). Both indicators hooked slightly up but the Histogram was printed in the red zone.Overall market sentiment remains fragile as the last minute buying was just a sign of light nibbling on cheap shares. This was witnessed by the low volume (931m). Meantime, there is no solid support for the market to really cheer up. We only look at the bright side after %D of MSCD surged and broke the resistance line of the downtrend channel as shown in the MSCD.
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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