The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract is anticipated to trade within a limited range in the upcoming week, mirroring trends observed in the underlying cash market, according to analysts.
Thong Pak Leng, vice president of equity research at Rakuten Trade, predicts that the index will oscillate between 1,630 and 1,650 points. He noted that a breakout above the 1,650-point threshold could signify a more sustained upward trajectory for the market.
“The long-term outlook remains optimistic,” Thong stated, emphasizing that improving economic conditions, robust corporate earnings, and substantial foreign direct investments are expected to enhance market momentum.
In the week that just concluded, the spot month October 2024 contract increased by 6.0 points to reach 1,638.0. The November 2024 contract rose by 5.5 points to 1,641.0, while the December 2024 contract climbed 4.5 points to 1,644.0. Additionally, the March 2025 contract gained 5.0 points, settling at 1,632.0.
However, trading volume declined significantly, with turnover falling to 32,671 lots from the previous week’s 48,310 lots. Open interest also decreased, dropping to 46,608 contracts from 49,905 contracts.
On a weekly basis, the FBM KLCI experienced a modest gain of 3.58 points, rising from 1,629.97 the previous week to 1,633.55.
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