KUALA LUMPUR, The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is set to consolidate next week in sync with the underlying cash market.
Rakuten Trade Sdn Bhd’s vice-president of equity research, Thong Pak Leng, stated that going forward, the index must break through the 1,670 resistance level to restore its bullish momentum.
‘Should this level be exceeded with substantial trading volume, the next resistance at 1,700 may be tested,’ he said.
For the week just ended, the September 2024 contract rose 12.0 points to 1,647.5, October 2024 and December 2024 ended the week 11.50 points better at 1,650.0 and 1,654.0 and March 2025 was 12.5 points better at 1,641.0.
Turnover dropped to 26,397 lots from 39,004 the previous week, while open interest narrowed to 52,194 contracts from 55,697.
Source: BERNAMA News Agency
