Malaysia Market – End of the Day

This afternoon, Asian major bourses namely Singapore, Hong Kong and Taiwan markets suddenly turned around from lackluster trading into huge gains. Investors were bolstered by the notably effect of China’s recently announced RMB40 billion stimulus program. At closing, Hong Kong gained 2.46%, Taiwan 2.93% and Singapore recorded a hefty 5.05%. Japanese financial markets closed for Golden Week break.

In local bourse, investor confidence returned in a big way in the afternoon session after seeing huge gains of major Asian markets. The benchmark index surged and closed at 1,023.96 gained 15.09 pts or 1.50%. Total Volume increased tremendously to 2,506 mln shares from 1,896 mln shares yesterday.

Today’s huge gain of the Intra-day Oscillator also pushes the Key Indicator (Blue) of the Daily MSO Chart into another uncharted area of 833.25, making another gain of 454 pts.

Tomorrow should be yet another sunny day as U.S. stock-index futures advanced after an industry report showed private employers cut fewer jobs than economists estimated in April. This is bolstering speculation that the labor market is improving.

However, a Chinese proverb said: Sadness always arrives at the happiest hour. At this hottest stage of the game, doubly cautiousness should not be ignored. Chasing on high rise counters invited higher risks. (Constructed and shared by Smartbiz)