
By Durratul Ain Ahmad Fuad & Nurul Jannah Kamaruddin
KUALA LUMPUR, June 3 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to move in tandem with the underlying cash market next week.
The FBM KLCI is expected to trade at current level next week with investors' risk interest continuing to be dictated by market developments in the United States and China.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said trading might remain cautious as investors would still be worried over the two economic giants’ growth stories.
“We forecast the FBM KLCI to trend within the range of 1,380-1,395 for next week,” he told Bernama.
For the week just ended, June 2023 eased 19.5 points to 1,381.5, the newly introduced month July 2023 settled the week at 1,382.5, September 2023 fell 21.0 points to 1,369.0, and December 2023 slid 23.0 points to 1,368.0.
Weekly turnover jumped to 94,779 lots from 82,017 lots last week, while open interest fell to 42,221 contracts from 84,737 contracts.
On a Friday-to-Friday basis, the FBM KLCI declined 21.72 points to end the week at 1,381.26 from last week’s 1,402.98.
Bursa Malaysia Bhd and its subsidiaries will be closed on June 5, 2023, in conjunction with the birthday of the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah.
Operations will resume on June 6, 2023.
-- BERNAMA