Asian stock markets end sharply lower Monday on rising concerns over the euro-zone debt crisis and global economic growth, while worries China's nonperforming loans may rise spurred a selloff in Hong Kong shares.
"Despite best intentions, politicians and central bankers have been unable to come up with any meaningful solutions and this has in turn eroded the market's confidence that there's any light at the end of the tunnel," said Cameron Peacock, market analyst at IG Markets in Australia. (WSJ)
Market Sentiment
Local sentiment continued lingering in low key with the Intra-day Oscillator fell to finish at -552.84; lost 298.55 when compares with its starting point. The Average recorded a loss of 499.87.
At the end of the day, %K (Yellow) of MSCD recorded as -175.15 (-59.02), %D (Red) -225.15 (-21.99) and the Histogram +36.00 (+3.50).
Both indicators curved downwards but the Histogram printed a longer bar above the zero level.
As %K has failed to stay above the downtrend line, market sentiment will remain fragile and any interest demonstrated would be pared down by profit taking.
Key Index
FBMKLCI lost nearly 20 points today but the “Hammer” formed in the chart indicates the bull refused to retreat totally. The downtrend line has turned into a support around 1,353.
However, the Weekly MACD says the bear still has an upper hand.
"Despite best intentions, politicians and central bankers have been unable to come up with any meaningful solutions and this has in turn eroded the market's confidence that there's any light at the end of the tunnel," said Cameron Peacock, market analyst at IG Markets in Australia. (WSJ)
Market SentimentLocal sentiment continued lingering in low key with the Intra-day Oscillator fell to finish at -552.84; lost 298.55 when compares with its starting point. The Average recorded a loss of 499.87.
At the end of the day, %K (Yellow) of MSCD recorded as -175.15 (-59.02), %D (Red) -225.15 (-21.99) and the Histogram +36.00 (+3.50).
Both indicators curved downwards but the Histogram printed a longer bar above the zero level.
As %K has failed to stay above the downtrend line, market sentiment will remain fragile and any interest demonstrated would be pared down by profit taking.
Key Index
FBMKLCI lost nearly 20 points today but the “Hammer” formed in the chart indicates the bull refused to retreat totally. The downtrend line has turned into a support around 1,353.
However, the Weekly MACD says the bear still has an upper hand.
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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