FBM KLCI futures likely to see quiet trading next week


KUALA LUMPUR, Jan 29 — The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to see quiet trading next week due to the Chinese New Year celebrations and Federal Territories Day, while tracking the movement in the underlying cash market, said an analyst.

The FBM KLCI is expected to move between 1,510 and 1,520 points, with immediate resistance at 1,530, and support at 1,500 in the coming week

During the week just ended, January 2022 and June 2022 declined 10.0 points each to 1,517.5 and 1,503.0 respectively, February 2022 trimmed 9.5 points to 1,517.5 while March 2022 eased 10.5 points to 1,508.0.

Turnover soared to 92,333 lots from 25,227 lots last Friday, while open interest was slightly higher at 49,691 contracts from 35,783 contracts previously.

On a Friday-to-Friday basis, the FBM KLCI fell 7.04 points to end the week at 1,520.02 from 1,527.06 last week.

Meanwhile, Bursa Malaysia announced that trading on the exchange would see half-day session on Monday, the eve of Chinese New Year.  

However, clearing and settlement services provided by Bursa Malaysia Securities Clearing; depository services provided by Bursa Malaysia Depository; and clearing services provided by Bursa Malaysia Derivatives Clearing would continue as usual until the end of the business day, said the exchange recently. 

Bursa Malaysia and all its subsidiaries will be closed on Tuesday and Wednesday in conjunction with the CNY and Federal Territory Day holidays. 

The exchange and its subsidiaries will resume business on Feb 3