By Abdul Hamid A Rahman
KUALA LUMPUR, July 27 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to move in tandem with the underlying cash market next week.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng told Bernama that the market is expected to be in consolidation mode, with an upside bias.
"Until a fresh catalyst emerges, the market seems to be stabilising within a certain range, showing resilience despite the recent declines," he said.
For the week just ended, spot month July 2024 declined 26.5 points to 1,613.5, August 2024 and September 2024 fell 25.5 points each to 1,617.5 and 1,601.0, while December 2024 dipped 26.0 points to 1,608.0.
During the week, turnover rose to 79,667 lots from 22,558 lots in the previous week, while open interest picked up to 81,910 contracts from 50,832 contracts previously.
On a Friday-to-Friday basis, the FBM KLCI receded 23.67 points to 1,612.88 from last week's 1,636.55.
-- BERNAMA
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