MARKET DEVELOPMENT
FBM KLCI Futures Likely To Trade Higher Next Week
FBM KLCI Futures Likely To Trade Higher Next Week
21/03/2016 (Bernama) - The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives are likely to trade higher next week, tracking the positive cash market, dealers said.
Affin Hwang Investment Bank Vice-President and Retail Research Head Datuk Dr Nazri Khan Adam Khan told Bernama the index will remain steady and trend higher driven by the improved ringgit, rising oil and crude palm oil prices, positive statement from the US Federal Reserve as well as more global central bank stimulus from Europe, China and Japan.
On a week-to-week basis, March rose 13.5 points to 1,711, April 2016 gained 13 points to 1,706, June 2016 added 12 points to 1,694 while September 2016 was nine points higher at 1,681.50.
Weekly turnover eased to 43,838 lots from 44,276 lots while open interest narrowed to 43,838 contracts from 44,712 contracts last week.
The benchmark FBM KLCI settled at 1,716.34, up 13.15 points, from the previous week's 1,696.54.
Affin Hwang Investment Bank Vice-President and Retail Research Head Datuk Dr Nazri Khan Adam Khan told Bernama the index will remain steady and trend higher driven by the improved ringgit, rising oil and crude palm oil prices, positive statement from the US Federal Reserve as well as more global central bank stimulus from Europe, China and Japan.
On a week-to-week basis, March rose 13.5 points to 1,711, April 2016 gained 13 points to 1,706, June 2016 added 12 points to 1,694 while September 2016 was nine points higher at 1,681.50.
Weekly turnover eased to 43,838 lots from 44,276 lots while open interest narrowed to 43,838 contracts from 44,712 contracts last week.
The benchmark FBM KLCI settled at 1,716.34, up 13.15 points, from the previous week's 1,696.54.