KUALA LUMPUR, Aug 15 — The FTSE Bursa Malaysia KLCI futures contract on Bursa Malaysia Derivatives is expected to move in line with the underlying cash market next week.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the FBM KLCI index is likely to remain in consolidation mode with a with a downside bias.
“We expect the benchmark index to trade between 1,550 to 1,600 points next week, unless there are new positive catalysts such as another major breakthrough in vaccine development,” he added.
On a Frida-to-Friday basis, spot month August 2020 fell 18.0 points to 1,560.50, September 2020 shed 18.5 points to 1,552.5, December 2020 declined 17.5 points to 1,545.5, and distant month March 2021 slipped 14.5 points at 1,534.0.
Turnover dropped to 44,967 lots versus 56,197 lots in the previous week, while open interest widened to 38,167 contracts from 34,397 contracts previously.
The FBM KLCI shed 13.55 points to end at 1,564.59 from 1,578.14 a week earlier.