Asian shares fell Tuesday as the spectre of a fresh global recession and ongoing euro-zone sovereign debt worries gripped markets, sending the euro to a one-month low against the U.S. dollar.
"Recession worries and European sovereign debt uncertainty continues to weigh on equities," DBS Vickers said in a note to clients.
Local sentiment progress in sluggish tone with the Intra-day Oscillator slid to finish off low at -267.57; gained 7.28 when compares with its starting point. The Average recorded a loss of 335.08.
At the end of the day, %K(yellow) of MSCD recorded as -247.17 (-15.98), %D(red) -328.80 (-0.50) and the Histogram +55.64 (+6.50).
Both indicators fell slightly but remained above the resistance line. The Histogram printed another longer bar above the zero level.
Conclusion
Market sentiment continued to subside as regional markets were plagued by various uncertainties. However, selling was not intensive as overall volume was only slightly over 700 million shares. Market sentiment will continue to tread water with cautious buying on weakness.
"Recession worries and European sovereign debt uncertainty continues to weigh on equities," DBS Vickers said in a note to clients.
Local sentiment progress in sluggish tone with the Intra-day Oscillator slid to finish off low at -267.57; gained 7.28 when compares with its starting point. The Average recorded a loss of 335.08.
At the end of the day, %K(yellow) of MSCD recorded as -247.17 (-15.98), %D(red) -328.80 (-0.50) and the Histogram +55.64 (+6.50).
Both indicators fell slightly but remained above the resistance line. The Histogram printed another longer bar above the zero level.
Conclusion
Market sentiment continued to subside as regional markets were plagued by various uncertainties. However, selling was not intensive as overall volume was only slightly over 700 million shares. Market sentiment will continue to tread water with cautious buying on weakness.
Constructed and Written by Smartbiz (Chart of FBMKLCI extracted from ChartNexus)
(Note: You can read the explanation for Intra-Day MSO and MSCD from the archive under heading "Labels" at the lower portion of the sidebar.)
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