Most Asian stock markets pared their gains Friday, as investors remained cautious amid this week's turmoil in markets and as concerns over the global economy persisted.
"The volatility in U.S. stocks will likely continue until (Federal Reserve) Chairman Ben Bernanke's highly-anticipated speech at Jackson Hole on Aug. 26; at the same symposium last year, he announced QE2 (the second round of quantitative easing), so the market is expecting some action points this year as well," said Mitsuhige Akino, chief fund manager at Ichiyoshi Investment Management in Tokyo.
Local sentiment followed regional markets with enthusiasm receding gradually. The Intra-day Oscillator, though stayed in positive zone, slid all the way down to finish off low at +731.03; lost 351.46 when compares with its starting point. The Average recorded a gain of 771.80.
At the end of the day, %K(yellow) of MSCD recorded as -770.39 (+280.30), %D(red) -622.79 (+111.61) and the Histogram -270.09 (+30.62).
Both indicators surged higher and the Histogram printed a shorter negative bar.
Conclusion
Market sentiment continued to recover slowly today as fears abated but cautiousness remained. Also, the narrower gap between two indicators is an indication of increasing participation from buyers.
Quality Smallcaps will continue to attract buying whilst retailers started to bite on low-liners.
(Morning Flash: Dow Jones climbed another 126 points last night)
NEWS FLASH (Bursah)
LCTH net loss enlarged to RM4.06 million in the second quarter ended Jun 30, 2011 from RM1.27 million a year ago.
PENERGY net profit increased to RM4.36 million in the second quarter ended Jun 30, 2011 from loss of RM2.32 million a year ago.
NOTION announced that it has been informed by the controlling shareholders of the Company that the negotiations with various parties have ceased and there are no further discussions.
GUNUNG net profit increased to RM2.84 million in the second quarter ended Jun 30, 2011 from RM0.63 million a year ago.
BHIC net profit sank significantly to RM1.39 million in the second quarter ended Jun 30, 2011 from RM15.80 million a year ago.
CSCSTEEL net profit sank significantly to RM6.36 million in the second quarter ended Jun 30, 2011 from RM31.61 million a year ago.
"The volatility in U.S. stocks will likely continue until (Federal Reserve) Chairman Ben Bernanke's highly-anticipated speech at Jackson Hole on Aug. 26; at the same symposium last year, he announced QE2 (the second round of quantitative easing), so the market is expecting some action points this year as well," said Mitsuhige Akino, chief fund manager at Ichiyoshi Investment Management in Tokyo.
Local sentiment followed regional markets with enthusiasm receding gradually. The Intra-day Oscillator, though stayed in positive zone, slid all the way down to finish off low at +731.03; lost 351.46 when compares with its starting point. The Average recorded a gain of 771.80.
At the end of the day, %K(yellow) of MSCD recorded as -770.39 (+280.30), %D(red) -622.79 (+111.61) and the Histogram -270.09 (+30.62).
Both indicators surged higher and the Histogram printed a shorter negative bar.
Conclusion
Market sentiment continued to recover slowly today as fears abated but cautiousness remained. Also, the narrower gap between two indicators is an indication of increasing participation from buyers.
Quality Smallcaps will continue to attract buying whilst retailers started to bite on low-liners.
(Morning Flash: Dow Jones climbed another 126 points last night)
NEWS FLASH (Bursah)
LCTH net loss enlarged to RM4.06 million in the second quarter ended Jun 30, 2011 from RM1.27 million a year ago.
PENERGY net profit increased to RM4.36 million in the second quarter ended Jun 30, 2011 from loss of RM2.32 million a year ago.
NOTION announced that it has been informed by the controlling shareholders of the Company that the negotiations with various parties have ceased and there are no further discussions.
GUNUNG net profit increased to RM2.84 million in the second quarter ended Jun 30, 2011 from RM0.63 million a year ago.
BHIC net profit sank significantly to RM1.39 million in the second quarter ended Jun 30, 2011 from RM15.80 million a year ago.
CSCSTEEL net profit sank significantly to RM6.36 million in the second quarter ended Jun 30, 2011 from RM31.61 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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