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Asian stock markets were mostly lower in volatile trade on Tuesday amid fresh concerns that Greece may default on its debt, with Seoul shares plunging as investors continued to worry about a sharp downturn for the global economy.
"Unfortunately for investors the start of a new quarter has not heralded a change in sentiment, with the market continuing to grapple with Greece's debt predicament and concerns of a broadening global slowdown," said Cameron Peacock, market analyst at IG Markets in Sydney. (WSJ)
Market Sentiment
Local sentiment recovered from a weak morning session immediately after the break but failed to sustain as the key index reversed into the red again. The Intra-day Oscillator finished at -124.06; gained 29.55 when compares with its starting point. The Average recorded a loss of 86.06.
At the end of the day, %K (Yellow) of MSCD recorded as -161.45 (+13.70), %D (Red) -214.86 (+10.31) and the Histogram +39.49 (+3.48).
Both indicators edged up and the Histogram printed a longer bar above the zero level.
There is no significant movement depicted in the chart to warrant any firm action. Market will be as volatile as before since most global issues remain unsolved.
Key Index
(Chart posted with courtesy of ChartNexus)
FBMKLCI lost about 5 points as attempt to stay above the zero level failed in the late session. This time, the long shadow of the “Doji” pointed to a more pessimistic market for tomorrow. The next minor support is around 1,339.
Asian stock markets were mostly lower in volatile trade on Tuesday amid fresh concerns that Greece may default on its debt, with Seoul shares plunging as investors continued to worry about a sharp downturn for the global economy.
"Unfortunately for investors the start of a new quarter has not heralded a change in sentiment, with the market continuing to grapple with Greece's debt predicament and concerns of a broadening global slowdown," said Cameron Peacock, market analyst at IG Markets in Sydney. (WSJ)
Market Sentiment
Local sentiment recovered from a weak morning session immediately after the break but failed to sustain as the key index reversed into the red again. The Intra-day Oscillator finished at -124.06; gained 29.55 when compares with its starting point. The Average recorded a loss of 86.06.At the end of the day, %K (Yellow) of MSCD recorded as -161.45 (+13.70), %D (Red) -214.86 (+10.31) and the Histogram +39.49 (+3.48).
Both indicators edged up and the Histogram printed a longer bar above the zero level.
There is no significant movement depicted in the chart to warrant any firm action. Market will be as volatile as before since most global issues remain unsolved.
Key Index(Chart posted with courtesy of ChartNexus)
FBMKLCI lost about 5 points as attempt to stay above the zero level failed in the late session. This time, the long shadow of the “Doji” pointed to a more pessimistic market for tomorrow. The next minor support is around 1,339.
(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)
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