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Wednesday, September 14, 2011

Malaysia Stock Market - Sentiment Index

Investors in Asia took the opportunity to buy beaten down stocks after Wall Street staged a late rebound Monday on news that Italy's Finance Ministry has held talks with China's sovereign-wealth fund and other Chinese officials in a bid to persuade Beijing to buy large amounts of Italian bonds.

"Buyers are unlikely to return to the market in force until they have a concrete sense of the likely resolution to the European situation," said Ric Spooner, chief market analyst at CMC Markets in Sydney.

Local sentiment lied low for the whole day though key index has recouped some of yesterday’s losses. The Intra-day Oscillator opened in positive zone but slid all the way down into the red and finished at -131.28; lost 287.74 when compares with its starting point. The Average recorded a loss of 6.83.

At the end of the day, %K (Yellow) of MSCD recorded as -135.45 (+23.38), %D (Red) -235.09 (+18.27) and the Histogram, +91.45 (+2.05).

Both indicators hooked up and the Histogram printed yet another longer bar above the zero-level.


Market sentiment progressed in weaker note today as investors preferred to wait and see. As %K remains above %D and the Histogram continues to print a higher bar, market confidence will gradually return but volume remain scarce.

(Morning Flash: Dow Jones gained 44 points, last night)

Constructed and Written by Smartbiz (Chart of FBMKLCI extracted from ChartNexus)

(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)

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