Sentiment Index - Malaysia Stock Market

Constructed and Written by Smartbiz

Asian shares dropped sharply Friday, pulled down by fresh concerns about Europe's ongoing debt woes following a weak Spanish bond auction.

The losses followed an auction Thursday that saw average yields on 10-year Spanish government bonds hit a euro-era high ahead of a weekend election there, sending European and U.S. stocks sharply lower. (WSJ)

Market Sentiment
Local sentiment sank deeper into pessimism after the key index failed to sustain its morning gain. The Intraday Oscillator slid all the way down to finish off low at -1,274.39; lost 847.45 when compares with its opening point. The Average recorded a loss of 1,038.04.

At the end of the day, %K (Yellow) of MSCD computed as -118.75 (-167.08), %D (Red) +32.13 (-85.65) and the Histogram -18.41 (-33.12).

Both indicators fell deeper and %K soaks in the red now. The Histogram printed its first bar beneath the zero level.

Conclusion
Market sentiment stepped into deeper pessimism with 197 gainers vs. 588 losers and volume decreased by 8.48% to 1.462 billion shares.

In MSCD, %K recorded a lower-low and fell into the red. Sentiment will be subdued until the key index finds its major support.

Day Pick
XINQUAN (impressive earning report)

Key Index

(Chart posted with courtesy of ChartNexus)

FBMKLCI printed yet another black candle to form a downtrend line after Friday’s trade. This exposes itself to its 50-Day MA around 1,435.

The downside movement of the key index will affect the ACE Market as well.

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