Asian markets were mixed today amid poor Wall Street and worries about the strength of the economic recovery in China. But, the Bank of Japan upgraded its assessment of the nation’s economy for the first time in three years Friday, saying a rebound in global demand could mean the recorded contraction last quarter marked the worst of the recession.At closing, Japan market was down 0.41%, Hong Kong 0.80% but Singapore up by 1.55%.
On Bursa Malaysia, the benchmark Kuala Lumpur Composite Index (KLCI) rebound and ended at its high after having opened lower this morning. KLCI added 0.94% or 9.70 points to 1,045.26. But, total Volume decreased by 218 mln shares to 1,270 mln shares.
Again, the robust sentiment showed this morning immediately faded away when investors seeing KLCI went sideways. Though the Index stayed in high side most of the day but lower liners were not really moving. This shows that retail players are still cautious and not willing to take heavy position after the big run. However, market sentiment managed to return to positive notes in the afternoon session but volume remained thin. The Intra-Day Oscillator only recorded an average gain of 23.98 pts, today.
The Key Indicator (Blue) of the Daily MSO Chart edged slightly higher and returns to positive zone after today’s trade. This is an indication that buying strength is recovering but in small way. The Indicator is now at +51.10 gains 180.55 pts.
The 20MAV hooks down slightly but remains in the uptrend channel. The daily shrinking volume might be the cause of the falling leaf. (Constructed and shared by Smartbiz)
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