THE FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to trade lower next week, tracking the underlying cash market.
An analyst said the FBM KLCI was expected to be in a volatile mode with a downside bias ranging between 1,460 and 1,500 due to the unresolved political uncertainty.
“Besides political instability, the local market would also be influenced by the corporate results announcements as well as the upcoming FTSE World Government Bond Index review,” she said.
On a Friday-to-Friday basis, spot month February 2020 fell 59 points to 1,480.50, March 2020 went down by 66.5 points to 1,463.50, June 2020 slipped 67 points to 1,460.50 and September 2020 lost 67.50 points to 1,457.00.
Turnover skyrocketed to 142,529 lots from 35,314 lots last week while the open interest widened to 56,522 contracts from 42,661 contracts previously.
On a Friday-to-Friday basis, the FBM KLCI dropped 48.56 points to 1,482.64 from 1,531.20 previously. – Feb 29, 2020, Bernama