Asian markets were firmer in early trade on May 15, underpinned by the strong overnight close on Wall Street. At the break, Japan market was up by 1.62%, Hong Kong 1.71% and Singapore 1.62%.Shares on Bursa Malaysia opened higher on Friday but were lagging behind the sharp rebound across the region. KLCI was just lingering along a tight range of about 3 points for the whole morning. Volume also shrinking to 1,097 mln shares, 448 mln shares lesser than yesterday. At the break, KLCI gained 6.28 pts to 1018.27.
The Intra-Day Sentiment Oscillator has a lousy show this morning, sliding all the way to finish at its lowest level at 1,020.41 lost a hefty 2,645.58 points from the starting point. Investors just scared to take position as today is the T+3 or T+4 due date of the huge volume of many speculative counters.
This afternoon, market will still be lackluster since the rebound of its Asian peers has failed to lead. KLCI will be moving in tight range between 1,016 and 1,020. The former is the 5-Day MAV and the later 10-Day MAV. But, the weaker performance of news-driven counters is also an opportunity for accumulation. (Constructed and shared by Smartbiz)
No comments:
Post a Comment