By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, June 22 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to trend lower next week, while tracking the underlying cash market.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said Bursa Malaysia could move within the range of 1,590-1,610 points, with trading likely to be driven by domestic investors.
He said Wall Street is expected to turn mixed next week, as investors may look to secure profits, particularly in technology companies.
“Domestically, the scheduled release of the leading indicator data next week will influence investor confidence and expectations,” said Mohd Sedek to Bernama.
For the week just ended, spot month June 2024 shed 16.5 points to 1,592.00, July 2024 dipped 16.0 points to 1,597.50, September 2024 reduced 15.0 points to 1,583.50 and December 2024 slid 14.0 points to 1,591.00.
During the shortened trading week, turnover expanded to 32,263 lots from 27,801 lots in the previous week, while open interest was higher at 55,901 contracts from 50,046 contracts previously.
On a Friday-to-Friday basis, the FBM KLCI slid by 7.95 points to 1,599.37 from last week’s 1,607.32.
-- BERNAMA
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