Malaysia Stock Market – End of the Day

Market has evolved into a mild consolidation stage with key index lingering along the same level and investors concentration shifted to low liners.

Asian stocks mostly rose on Wednesday as dealers followed a Wall Street gain while a better-than-expected survey of Japanese business confidence gave added support to sentiment in Tokyo.

However, the dollar hovered at two-week lows against the yen on expectations that the US Federal Reserve will announce a new set of monetary easing measures to boost the world's biggest economy. (Yahoo)

After 5.00pm, Japanese market gained 0.67%, Hong Kong 1.22%, Singapore 0.28% and China ended almost flat.

At the local front, FBMKLCI though opened with gain of about 7 points but retreated near the neutral level after an hour’s trade. The index fell briefly into the red after the break but last minute buying lifted it to finish at 1,461.78 (+2.14/0.155%). FBMKLCI Average (Pivot Point) was 1,462.40 (+1.43). Total volume was 905m (-71m).

Market sentiment was resilient amid selling pressure. The oscillator though lost steam but managed to recoup some of its losses after the break and finished at +321.90 lost 4.22, when compared with its starting point. The Average recorded a gain of 184.92.

Conclusion

At day's end, in MSCD, 12EMA (yellow) of MSCD moved higher to -23.52 (+37.89), 26EMA (red) to -24.41 (+16.75) and the Histogram to +0.89 (+21.13).

12EMA and 26EMa almost meet together and the Histogram casts a positive bar again.

Market has evolved into a mild consolidation stage with key index lingering along the same level and investors concentration shifted to low liners. This will allow the key index to slowly recede further from its overbought situation and prepares for a fresh chapter. Market sentiment will pick up once the key index finishes its consolidation process.

Constructed and Written by Smartbiz (Click on chart to view)

(Note: You can read the explanation for Intra-Day MSO and MSCD from the achieves under heading "Labels" at the lower portion of the sidebar.)