KLCI futures likely to trend upward next week

  • Business
  • Saturday, 15 Jun 2019

In its weekly fund flow report, MIDF Research said that foreign investors acquired RM273.3mil worth of Malaysian equities in net value last week. The figure, which excluded off market trades, was more than three times the amount acquired in the preceding week worth RM86.6mil.

KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract is expected to trend higher next week, tracking the positive underlying cash market.

A dealer said the benchmark FBM KLCI is likely to trend upward as sentiment for riskier assets remains bullish amid positive external developments.

The key index might test the support and resistance levels of 1,640 and 1,650 respectively next week, he said.

On a Friday-to-Friday basis, June 2019 fell 8.0 points to 1,636, July 2019 and September 2019 shed 6.0 points each to 1,637 and 1,632 respectively while December 2019 slipped 7.5 points to 1,628.5.

Turnover increased to 30,174 lots from 18,367 lots in the the holiday-shortened trading week, while open interest narrowed to 31,504 contracts from 32,983 contracts.

The benchmark FBM KLCI fell 5.11 points to 1,638.63 at Friday’s close compared with 1,649.33 registered a week earlier. - Bernama

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