KUALA LUMPUR, April 1 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract is expected to move in tandem with the underlying cash market next week.  

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng projected the benchmark index to trade within the 1,420-1,440 range next week.

During the week, the United States’ March ISM Manufacturing Purchasing Managers’ Index (PMI) and jobless claims, as well as Cleveland Federal Reserve (Fed) president Loretta Mester’s and St Louis Fed president James Bullard’s speeches would be closely monitored, he said.

The market would also be looking for clues from China’s Caixin and eurozone PMI prints, he added.

For the week just ended, March 2023 and September 2023 gained 27.5 points each to 1,423.0 and 1,417.0, respectively, while April 2023 and June 2023 bagged 28.5 points to 1,425.5 and 1,428.0, respectively.

Turnover soared to 169,015 lots from 30,036 lots last week, while open interest widened to 41,978 contracts from 38,177 contracts a week earlier.

On a Friday-to-Friday basis, the FBM KLCI climbed 22.89 points to end at 1,422.59 from last week's 1,399.70. 

-- BERNAMA