FBM KLCI futures set to rebound next week

KUALA LUMPUR – The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to rebound next week, tracking the improved sentiment expected from the underlying cash market.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that the sentiment in the market is expected to improve with buying support from foreign investors.

He anticipated the FBM KLCI to trend within the 1,480-1,510 range.

For the short week just ended, December 2022 fell 12 points to 1,486.5, March 2023 decreased 13 points to 1,479.5 and June 2023 dropped 15 points to 1,476.0, while the new month January 2023 stood at 1,487.5.

Turnover strengthened to 95,135 lots from 88,516 lots in the preceding week and open interest narrowed to 37,328 contracts from 88,516 contracts a week earlier.

On a Friday-to-Friday basis, the key index fell 4.74 points to 1,481.80 on Friday, from 1,486.54 previously.

The market was closed on Monday in conjunction with the special public holiday announced by the 10th Prime Minister Datuk Seri Anwar Ibrahim. – Bernama / pic TMR File

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