By Aishah Mohmad Afandi
KUALA LUMPUR, Nov 9 -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract is likely to see cautious trading next week, tracking the movement of the underlying cash market.
An analyst said that investors were awaiting several important economic data due for release next week, including the 2019 third-quarter (Q3) gross domestic product (GDP) data.
“Despite better-than-expected GDP data in the second quarter, a slight decline is expected in Q3 due to the volatile global trade relations. Based on the assumption, investors are expected to wait for the data before making any investment decision,” she said.
For the week just ended, the futures market ended higher compared to the previous, holiday-shortened, week.
On a Friday-to-Friday basis, November 2019 rose 19 points to 1,611.0, December 2019 bagged 18 points to 1,612.0, March 2020 added 15 points to 1,609.0 and June 2020 hiked 17 points to 1,607.5.
Turnover declined to 36,981 lots from 94,442 lots last week, while open interest narrowed to 34,711 contracts from 34,937 contracts previously.
The benchmark FBM KLCI was 16.39 points higher at 1,609.73 from the previous week’s close of 1,593.34.