KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to trend lower next week, tracking the performance of the underlying cash market.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said he expects the FBM KLCI to trend sideways within the 1,440-1,460 region next week, with immediate support at 1,430 and resistance at 1,460.
He told Bernama that investors were worried about high inflation and a possible economic recession in the United States which may spill over to other regions.
For the week just ended, July 2022 and September 2022 ticked up 9.5 points each to 1,446.00 and 1,436.00 respectively, and December 2022 earned 11.0 points to 1,438.00.
Turnover advanced to 121,949 lots from 36,842 lots in the previous week while open interest fell to 39,936 contracts from 42,886 contracts previously.
On a weekly basis, the FBM KLCI was 13.04 points higher at 1,449.74, from 1,436.70 on the previous week’s Friday.
-- BERNAMA
