Asian market were softer this morning followed the overnight poor performance of Dow Jones. But, all major markets turned positive before the break, reason not known yet. At the break, Japan market up by 0.34%, Hong Kong at par and Singapore 1.17%.KLCI was lower in early trade pushed down by profit taking activities after the local bourse experiencing its third busiest trading session yesterday. Investors are also waiting for the external trade data to be released today for direction on the performance of the country’s economy. KLCI ended at 1,023.54 gained 0.07 pts. Volume was almost the same as yesterday at 1,845 mln shares.
The Intra-Day Sentiment Oscillator suddenly jumped back to positive area after falling as low as -633.65 to end at +1,186.50, gains 331.11 pts when compares with its starting point at +855.39.
The sudden reversal of the Oscillator indicates a better market this afternoon but, again, profit taking will prevail as it has been the pattern of the market after sharp rises from its lowest point. (Constructed and shared by Smartbiz)
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