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Tuesday, November 8, 2011

Sentiment Index - Malaysia Stock Market

Constructed and Written by Smartbiz

Asian markets ended mixed Tuesday as caution over Europe's debt woes persisted, with attention shifting to Italy, while Tokyo shares were weighed down by a 29% plunge in Olympus shares after the company admitted covering up huge investment losses.

"Italy is a much bigger issue for markets than Greece, and uncertainty there doesn't bode well for risk assets in the short term," said Justin Gallagher , head of domestic sales trading and execution at RBS. "The market was hoping Italy would take care of itself but that's clearly not the case." (WSJ)

Market Sentiment
Local sentiment followed key index lost strength after a robust start. The Oscillator fell from its day-high to end at 315.26; lost 158.15 when compares with its opening point. The Average recorded a gain of 451.88 due to high starting point.

At the end of the day, %K (Yellow) of MSCD computed as +285.63 (+30.22), %D (Red) +211.21 (+19.26) and the Histogram +65.06 (+2.34).

Both indicators edged higher and the Histogram printed a slightly longer bar.


After the Greece legend now is the Italian Job. Market sentiment turned cautious as new Europe debt woes emerged. Total volume decreased by about 27% to 1.81 billion shares.

Market sentiment will remain in uncertainty, as all indicators in MSCD didn’t show any significant movement. However, the new debt issue will deter any advance as investor turns scary again.

Key Index
(Chart posted with courtesy of ChartNexus)
FBMKLCI failed to stage a new high but formed a “Doji” after today’s trade. The doji is a sign of uncertainty with downside bias in a mixed market.

FBMACE surged to new high but lost steam and printed a “Tomb” today. ACE Market might face some temporary setbacks but will continue to move forward so long as the Index stays above the 200-day MA.

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

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