The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to remain in consolidation mode next week, said an analyst.
Rakuten Trade vice president of equity research Thong Pak Leng anticipates that sentiment will remain subdued as investors await new market catalysts.
“In the absence of new catalysts, the FBM KLCI is expected to trade sideways with a slight upward movement within the 1,615 to 1,630 range,’ he told Bernama.
For the week just ended, the spot month October 2024 contract and March 2024 contract fell 19.0 points each to 1,616.0 and 1,611.0, respectively, November 2024 declined 27.5 points to 1,620.5, and December 2024 dipped 8.0 points to 1,623.5.
Turnover soared to 64,552 lots from 32,305 lots in the previous week, while open interest surged to 74,284 contracts from 46,103 contracts previously.
On a Friday-to-Friday basis, the FBM KLCI fell 27.69 points to 1,618.30 from 1,645.99 in the previous week.
Source: BERNAMA News Agency
