Asian shares pared losses and a few staged a surprising rebound Thursday as a report suggesting a potential shift in policy measure in China provided some succor to frayed investor nerves.
In mid-morning trade markets suddenly squeezed higher, which appears to have been triggered by headlines out of China. Zhang Ming, a scholar at the Chinese Academy of Social Sciences, a top state think tank, said in an essay that China should use current turmoil in international markets as an opportunity to boost the flexibility of its exchange rate. Mr. Zhang also called for a cut in the reserve requirement ratio in the second half.
Local sentiment improved gradually from initial doldrums though remained weak. The Intra-day Oscillator stayed above its Average whole day to finish at its day-high at +147.38; gained 1,692.22 when compares with its starting point. The Average recorded a loss of 877.61.
At the end of the day, %K(yellow) of MSCD recorded as -1,050.96 (+31.46), %D(red) -734.46 (-11.46) and the Histogram -300.77 (-3.89).
Both indicators contradicted to each other with %K edged higher but %D fell slightly. The Histogram printed yet another longer negative bar.
Conclusion
Market sentiment was considered resilient amidst another sharp fall of Dow Jones. The contradiction shown by both indicators is a sign of stabilization but uncertainty remains. However, Smallcaps were seen perking up in cautious nibbling.
(Morning News: Dow Jones surged 423 points last night)
NEWS FLASH (Bursah)
MRCB net profit increased to RM19.02 million in the second quarter ended Jun 30, 2011 from RM12.24 million a year ago.
YOKO net profit increased to RM4.13 million in the second quarter ended Jun 30, 2011 from RM2.96 million a year ago.
NOTION net profit increased to RM10.12 million in the third quarter ended Jun 30, 2011 from RM2.96 million a year ago.
MMODE net profit increased to RM3.72 million in the second quarter ended Jun 30, 2011 from RM0.59 million a year ago.
MBMR net profit decreased to RM21.10 million in the second quarter ended Jun 30, 2011 from RM38.77 million a year ago.
In mid-morning trade markets suddenly squeezed higher, which appears to have been triggered by headlines out of China. Zhang Ming, a scholar at the Chinese Academy of Social Sciences, a top state think tank, said in an essay that China should use current turmoil in international markets as an opportunity to boost the flexibility of its exchange rate. Mr. Zhang also called for a cut in the reserve requirement ratio in the second half.
Local sentiment improved gradually from initial doldrums though remained weak. The Intra-day Oscillator stayed above its Average whole day to finish at its day-high at +147.38; gained 1,692.22 when compares with its starting point. The Average recorded a loss of 877.61.
At the end of the day, %K(yellow) of MSCD recorded as -1,050.96 (+31.46), %D(red) -734.46 (-11.46) and the Histogram -300.77 (-3.89).
Both indicators contradicted to each other with %K edged higher but %D fell slightly. The Histogram printed yet another longer negative bar.
Conclusion
Market sentiment was considered resilient amidst another sharp fall of Dow Jones. The contradiction shown by both indicators is a sign of stabilization but uncertainty remains. However, Smallcaps were seen perking up in cautious nibbling.
(Morning News: Dow Jones surged 423 points last night)
NEWS FLASH (Bursah)
MRCB net profit increased to RM19.02 million in the second quarter ended Jun 30, 2011 from RM12.24 million a year ago.
YOKO net profit increased to RM4.13 million in the second quarter ended Jun 30, 2011 from RM2.96 million a year ago.
NOTION net profit increased to RM10.12 million in the third quarter ended Jun 30, 2011 from RM2.96 million a year ago.
MMODE net profit increased to RM3.72 million in the second quarter ended Jun 30, 2011 from RM0.59 million a year ago.
MBMR net profit decreased to RM21.10 million in the second quarter ended Jun 30, 2011 from RM38.77 million a year ago.
Constructed and Written by Smartbiz
(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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