Asian shares rose Wednesday as sentiment was bolstered by strong Australian data and speculation China might relax its tight grip on monetary policy in the near term.
Shares in Shanghai got a lift after a report from China Securities Journal Wednesday cited analysts as saying that Beijing may adjust monetary policy in coming months to prevent liquidity conditions from worsening.
Local sentiment motivated by regional gains picking up after the break. The Intra-day Oscillator surged to finish at its day-high at +288.37; gained 271.58 when compares with its starting point. The Average recorded a gain of 149.96.
At the end of the day, %K(yellow) of MSCD recorded as -186.09 (+61.08), %D(red) -293.34 (+35.48) and the Histogram +65.99 (+10.32).
Both indicators hooked up and the Histogram printed yet another longer bar above the zero level.
Conclusion
Market sentiment stayed tune with buying emerged after break today but volume was thin. MSCD shows that market sentiment will continue its recovery stage though vulnerable to external influence.
(Morning Flash: Dow Jones gained 275 points, last night)
Shares in Shanghai got a lift after a report from China Securities Journal Wednesday cited analysts as saying that Beijing may adjust monetary policy in coming months to prevent liquidity conditions from worsening.
Local sentiment motivated by regional gains picking up after the break. The Intra-day Oscillator surged to finish at its day-high at +288.37; gained 271.58 when compares with its starting point. The Average recorded a gain of 149.96.
At the end of the day, %K(yellow) of MSCD recorded as -186.09 (+61.08), %D(red) -293.34 (+35.48) and the Histogram +65.99 (+10.32). Both indicators hooked up and the Histogram printed yet another longer bar above the zero level.
Conclusion
Market sentiment stayed tune with buying emerged after break today but volume was thin. MSCD shows that market sentiment will continue its recovery stage though vulnerable to external influence.
(Morning Flash: Dow Jones gained 275 points, last night)
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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