KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely 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 told Bernama the FBM KLCI is likely to trend within the 1,545 to 1,565 range next week, with immediate support at 1,570 while resistance is at 1,540.
For the short week just ended, May 2022 rose 5.5 points to 1,548.5, June 2022 bagged 6.0 points to 1,547.5, September 2022 gained 4.5 points to 1,535.0 and December 2022 inched up 1.5 points to 1,534.5.
Turnover dipped to 26,892 lots from 45,714 lots in the previous week while open interest fell to 36,495 contracts from 37,647 contracts.
On a weekly basis, the FBM KLCI added 4.71 points to end the week at 1,549.12 from 1,544.41 in the previous week.
Bursa Malaysia and its subsidiaries were closed on Monday (May 16) for the Wesak Day replacement holiday.
-- BERNAMA
