By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, Oct 19 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to continue its sideways consolidation with a slight bullish tendency next week, when the benchmark index is likely to trade between 1,645 and 1,665.
Rakuten Trade vice president of equity research Thong Pak Leng said that although on the technical front the moving average convergence/divergence (MACD) remains in bearish territory, it hints at a possible crossover which could indicate the start of a new bullish phase if buying interest persists.
“Investors should wait for a decisive breakout above 1,650 for further upward potential,” he told Bernama.
For the week just ended, the spot month October 2024 contract added 7.0 points to 1,645.0, while November 2024 gained 7.0 points to 1,648.0, December 2024 rose 7.5 points to 1,644.0 and March 2025 climbed 8.0 points to 1,640.0.
Turnover slipped to 32,305 lots from 32,671 lots the previous week, while open interest decreased to 46,103 contracts from 46,608 contracts previously.
On a Friday-to-Friday basis, the FBM KLCI advanced 12.44 points to 1,645.99 from 1,633.55 in the previous week.
-- BERNAMA
