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Monday, November 17, 2008

Malaysia Market - Mid-Day Comments

12:30 Asian energy stocks fell as crude oil slipped for a second day, while utilities and consumer-related shares climbed as lower costs bolstered their profit outlook. Japan gained 2.19%, Hong Kong 0.41% but Singapore 0.30%.

KLCI managed to eke 0.66 pts or 0.07% after lingering in the negative zone for the whole morning.

However, market sentiment was weak with MSO fell from its high at -29.36 to settle at its low -93.70. Volume slowly increased from 0.93 mln to 1.36 mln per minute amid poorer market sentiment. Most punters decided to cut their holding as market was not steady.

 

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