KLCI futures to trade firmer next week

Business Times

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to trade firmer next week, tracking the cash market's bullish


Affin Investment Bank vice-president and head of retail research Dr Nazri Khan said the FTSE Bursa Malaysia KLCI (FBM KLCI) would likely rebound further next week, after posting a loss of 113 points over the last six weeks.

He said the expected upswings in Wall Street, Europe and Asian regional indices would provide a fillip to the benchmark's performance next week.

"The FBM KLCI bullish performance next week will be driven by positive US economic data, relief in the emerging market currencies and the FBM KLCI's successful break above 1,800 points at the closing on Friday," he told Bernama.

For the week just-ended, the stock exchange traded for four days as it was closed on Monday for the Federal Territory Day holiday.

On a Friday-to-Thursday basis, spot month February 2014 added 16.5 points to 1,810 points, March 2014 and June 2014 gained 16 points each to 1,809 points and 1,806 points, respectively, while new contract month September stood at 1,801 points.

Turnover for the week fell to 26,817 lots from 152,750 lots last week while open interest declined to 38,853 contracts from 48,659 contracts previously.

For the week just-ended, the underlying FBM KLCI was 10.69 points higher at 1,808.59.-- Bernama