Firstly, D Line remains in the downtrend channel. Secondly, both indicators are soaking in the red. Market sentiment remains volatile, gains will be limited.
Japan's shares led most Asian stock markets higher, as the Group of Seven industrialized nations agreed to a coordinated intervention to stop the yen's surge.
Some traders were circumspect about the Tokyo market's rise, noting the G-7 action had been anticipated and Japanese officials still have a massive recovery and rebuilding task on hand.
"The problems at the nuclear plant are far from over, and we have a three-day weekend ahead, so it's hard to keep buying on the weaker yen alone," said Yumi Nishimura, deputy general manager at Daiwa Securities Capital Markets. (WSJ)
At closing, Japanese market gained 2.72%, China 0.42%, Hong Kong 0.07%, Malaysia 0.79% but Singapore shed 0.24%.
FBMKLCI
FBMKLCI opened with a 3-point loss but gradually crawled back to positive territory within an hour’s trade. Last minute buying pulled the index crossed over the 1,500 psychological level and ended at 1,503.89 (+11.80/0.79%). Total Volume was 988m (+66m), gainer 501 and loser 250. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment
Market sentiment opened in strong note but lost steam gradually. The Oscillator slid all the way down and only last minute buying pulled it to end at +552.85; lost 317.08 when compares with its starting point. The Average recorded a gain of 566.09.
Conclusion
Regional market continued to act with cautiousness amid news that the nuclear crisis in Japan was under control. Experts said the operators of the nuclear plants in Japan sent out unrealistic information and they were doubtful on the radiation-data released by them.
At closing, FBMKLCI finished slightly below the Middle Bollinger Band around 1,505. Though the index has the possibility to move higher in next session but momentum will not be significant as both key indicators of MACD are remaining in the red. Its next tough barrier will be the 30-day SMA which is around 1,509 now. Incidentally, the 30-day SMA is on its way to intersect with the new projected trendline. (Chart extracted from ChartNexus)
On the other hand, %K Line (yellow) of MSCD recorded as -267.13 (+151.44), %D Line (red) -319.73 (+70.89) and the Histogram +4.98 (+11.90). Both indicators hooked up and K Line cut D Line from underneath. The Histogram reversed into positive zone.
Overall market sentiment though has shown some improvement but recovery strength is still in doubts. Firstly, D Line remains in the downtrend channel. Secondly, both indicators are soaking in the red. Market sentiment remains volatile, gains will be limited.
Japan's shares led most Asian stock markets higher, as the Group of Seven industrialized nations agreed to a coordinated intervention to stop the yen's surge.
Some traders were circumspect about the Tokyo market's rise, noting the G-7 action had been anticipated and Japanese officials still have a massive recovery and rebuilding task on hand.
"The problems at the nuclear plant are far from over, and we have a three-day weekend ahead, so it's hard to keep buying on the weaker yen alone," said Yumi Nishimura, deputy general manager at Daiwa Securities Capital Markets. (WSJ)
At closing, Japanese market gained 2.72%, China 0.42%, Hong Kong 0.07%, Malaysia 0.79% but Singapore shed 0.24%.
FBMKLCI FBMKLCI opened with a 3-point loss but gradually crawled back to positive territory within an hour’s trade. Last minute buying pulled the index crossed over the 1,500 psychological level and ended at 1,503.89 (+11.80/0.79%). Total Volume was 988m (+66m), gainer 501 and loser 250. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment Market sentiment opened in strong note but lost steam gradually. The Oscillator slid all the way down and only last minute buying pulled it to end at +552.85; lost 317.08 when compares with its starting point. The Average recorded a gain of 566.09.
Conclusion
Regional market continued to act with cautiousness amid news that the nuclear crisis in Japan was under control. Experts said the operators of the nuclear plants in Japan sent out unrealistic information and they were doubtful on the radiation-data released by them.
At closing, FBMKLCI finished slightly below the Middle Bollinger Band around 1,505. Though the index has the possibility to move higher in next session but momentum will not be significant as both key indicators of MACD are remaining in the red. Its next tough barrier will be the 30-day SMA which is around 1,509 now. Incidentally, the 30-day SMA is on its way to intersect with the new projected trendline. (Chart extracted from ChartNexus) On the other hand, %K Line (yellow) of MSCD recorded as -267.13 (+151.44), %D Line (red) -319.73 (+70.89) and the Histogram +4.98 (+11.90). Both indicators hooked up and K Line cut D Line from underneath. The Histogram reversed into positive zone.
Overall market sentiment though has shown some improvement but recovery strength is still in doubts. Firstly, D Line remains in the downtrend channel. Secondly, both indicators are soaking in the red. Market sentiment remains volatile, gains will be limited. 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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