KLCI Futures Set To Continue Range-bound Trading Next Week
By Durratul Ain Ahmad Fuad
KUALA LUMPUR, Nov 23 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to continue trading in range-bound mode with an upward bias next week.
Rakuten Trade Sdn Bhd’s vice-president of equity research, Thong Pak Leng said that traders are maintaining a cautious outlook noting that the support for the FBM KLCI is expected to be at 1,585 followed by 1,535.
“We are hoping for a breakout from this range, if not the benchmark index will further consolidate along these levels for a short period, awaiting new catalysts. We anticipate the FBM KLCI to trend within the range of 1,585-1,610 for next week,” he told Bernama.
For the week just ended, November 2024 shed seven points to 1,587.5, December 2024 declined eight points to 1,591.0, March 2025 weakened by 4.5 points to 1,583.0, and June 2025 trimmed five points to 1,591.0.
Turnover increased to 33,554 lots from 27,800 lots in the previous week, while open interest shrank to 37,221 contracts from 38,788 contracts.
On a Friday-to-Friday basis, the FBM KLCI fell 2.66 points, closing at 1,589.78, compared to 1,592.44 the previous week.
-- BERNAMA