THE FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to trade on a range-bound mode next week, taking the cue from the underlying cash market.
Rakuten Trade Sdn Bhd head of research Kenny Yee said Bursa Malaysia is expected to continue its range-bound trading between 1,320 and 1,350 next week as volatility remain high in the market.
“Broad-based profit-taking and bargain-hunting activities are expected to dominate the local stock exchange next week, resulting in range-bound trading in the market,” he told Bernama.
On a Friday-to-Friday basis, new spot month April 2020 eased two points to 1,313.5, June 2020 shrank 11.5 points to 1,300.0 and September 2020 was 12.5 points weaker at 1,294.0.
New contract month May 2020 stood at 1,306.0.
Turnover fell to 81,234 lots from 136,603 lots in the week before, while open interest narrowed to 33,991 contracts from 53,572 contracts previously.
On a Friday-to-Friday basis, the FBM KLCI dwindled 12.44 points to 1,330.65 from 1,343.09 previously. – April 4, 2020, Bernama
