Stock markets across Asia were higher Monday, as better-than-expected numbers on U.S. retail sales and Japanese economic growth comforted investors knocked about by last week's massive selloffs in equities and commodities.
"The market is generally stabilizing; U.S. equities were higher and U.S. retail sales were relatively stable, so we're heading into a period of better risk appetite," said Thomas Harr, head of Asian FX strategy at Standard Chartered in Singapore.
Local sentiment was excited today though remained cautious as the key index climbing uphill for the whole session. The Intra-day Oscillator surged to finish at its day-high at +1,044.37; gained 422.97 when compares with its starting point. The Average recorded a gain of 575.99.
At the end of the day, %K(yellow) of MSCD recorded as -563.32 (+207.07), %D(red) -533.96 (+88.83) and the Histogram -221.94 (+48.15).
Both indicators gained in four sessions streak and %K prepared to cut %D. The Histogram printed another shorter negative bar to initiate a round bottoming.
Conclusion
Market sentiment is steadier now but cautious strategy should be applied as both indicators are still deep in the red. However, if %K managed to cut %D decisively with increasing volume the bullish sentiment will continue until %K faces its resistance.
(Morning Flash: Dow Jones climbed another 213 points last night)
NEWS FLASH (Bursah)
CANONE net profit increased to RM8.28 million in the second quarter ended Jun 30, 2011 from RM3.46 million a year ago.
FIMACOR net profit increased to RM26.87 million in the second quarter ended Jun 30, 2011 from RM22.92 million a year ago.
SPK recorded net loss of RM0.82 million in the second quarter ended Jun 30, 2011 from profit of RM9.62 million a year ago.
ASAS net profit increased to RM7.14 million in the second quarter ended Jun 30, 2011 from RM4.62 million a year ago.
WINGTM net profit increased to RM53.28 million in the fourth quarter ended Jun 30, 2011 from RM18.65 million a year ago.
AMMB net profit increased to RM441.52 million in the first quarter ended Jun 30, 2011 from RM368.28 million a year ago.
"The market is generally stabilizing; U.S. equities were higher and U.S. retail sales were relatively stable, so we're heading into a period of better risk appetite," said Thomas Harr, head of Asian FX strategy at Standard Chartered in Singapore.
Local sentiment was excited today though remained cautious as the key index climbing uphill for the whole session. The Intra-day Oscillator surged to finish at its day-high at +1,044.37; gained 422.97 when compares with its starting point. The Average recorded a gain of 575.99.
At the end of the day, %K(yellow) of MSCD recorded as -563.32 (+207.07), %D(red) -533.96 (+88.83) and the Histogram -221.94 (+48.15).
Both indicators gained in four sessions streak and %K prepared to cut %D. The Histogram printed another shorter negative bar to initiate a round bottoming.
Conclusion
Market sentiment is steadier now but cautious strategy should be applied as both indicators are still deep in the red. However, if %K managed to cut %D decisively with increasing volume the bullish sentiment will continue until %K faces its resistance.
(Morning Flash: Dow Jones climbed another 213 points last night)
NEWS FLASH (Bursah)
CANONE net profit increased to RM8.28 million in the second quarter ended Jun 30, 2011 from RM3.46 million a year ago.
FIMACOR net profit increased to RM26.87 million in the second quarter ended Jun 30, 2011 from RM22.92 million a year ago.
SPK recorded net loss of RM0.82 million in the second quarter ended Jun 30, 2011 from profit of RM9.62 million a year ago.
ASAS net profit increased to RM7.14 million in the second quarter ended Jun 30, 2011 from RM4.62 million a year ago.
WINGTM net profit increased to RM53.28 million in the fourth quarter ended Jun 30, 2011 from RM18.65 million a year ago.
AMMB net profit increased to RM441.52 million in the first quarter ended Jun 30, 2011 from RM368.28 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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