FBM KLCI Futures Poised For Gains Next Week On Cash Market Strength
By Siti Radziah Hamzah
KUALA LUMPUR, Sept 21 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is poised to rise next week, tracking an anticipated upward trend in the underlying cash market.
Rakuten Trade Sdn Bhd’s vice-president of equity research, Thong Pak Leng, anticipates the FBM KLCI will trend within the 1,660-1,680 range.
“Looking ahead to next week, we believe investors will be ready to buy on the breakout, strengthen their positions, or leverage their holdings to maximise profit potential,” he told Bernama.
For the week ending, the September 2024 contract rose by 26.5 points to 1,674.0, while the October, December, and March 2024 contracts each advanced by 26.0 points to 1,676.0, 1,680.0, and 1,667.0, respectively.
Turnover fell to 21,307 lots from 26,397 lots the previous week, while open interest increased to 57,254 contracts from 52,194 contracts.
-- BERNAMA