KUALA LUMPUR: The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures contract (FKLI) is expected to trend sideways next week, trailing a similar trend on the cash market.
However, Affin Hwang Investment Bank Vice-President and Head of Retail Research Datuk Dr Nazri Khan said as the FBMKLCI showeds some inspiration from the Cabinet reshuffle coupled with the steady ringgit, it could provide positive sentiment to futures contract.
He said previously, the benchmark managed to remain above the key 1,700 psychological level while the average daily trading volume and value remained steady at 1.6 billion shares and RM1.5 billion, respectively.
For the week just-ended, the FKLI was mostly higher despite the lower cash market.
On week-to-week basis, July 2015 rose two points to 1,718, August 2015 eased 13 points to 1,694, September 2015 gained eight points to 1,708 while December 2015 added 4.5 points to 1,699.5.
Turnover for the week jumped 126,525 lots from 31,861 lots last week while open interest increased to 72,104 contracts versus 48,009 contracts previously. – BERNAMA