KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to continue to trend sideways on cautious sentiment next week, tracking the movement in the underlying cash market.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI is likely to trend within the 1,540 to 1,555 range next week, with immediate support at 1,540 while resistance is at 1,560.
For the week just ended, May 2022 slipped 2.0 points to 1,546.5, June 2022 declined 4.5 points to 1,543.0, September 2022 fell 3.0 points to 1,532.0 and December 2022 reduced 2.5 points to 1,532.0.
Turnover jumped to 94,685 lots from 26,892 lots in the previous week while open interest rose to 74,035 contracts from 36,495 contracts.
On a weekly basis, the FBM KLCI slipped 2.36 points to end the week at 1,546.76 from 1,549.12 in the previous week. — Bernama
