Asian markets mostly fell into red after Wall Street slipping 1.5% at overnight close on concerns of the US government’s widening budget deficit and rising jobless claims. At the break, Japan market down by 0.06%, Hong Kong 1.89% and Singapore 0.35%.This morning, KLCI led by consumer services counters regained strength to recover from red but closed lower amid continuous profit taking. The Index ended at 1,038.21 gained 2.65 pts or 0.26%. Total volume decreased by 197 mln shares to 628 mln shares. Lower liners were rather quiet.
The Intra-Day Sentiment Oscillator managed to jump into positive zone, this morning, but failed to sustain to finish at -286.07 lost 142.52 points when compares with the starting point at -143.55. Volume was shrinking, indicating sellers not willing to sell buyers not willing to buy. Market was almost stagnant.
This afternoon, market should have no significant movement with downside bias. (Constructed and shared by Smartbiz)
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