KUALA LUMPUR, May 17 — The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts (FKLI) on Bursa Malaysia Derivatives are likely to trade higher next week, tracking the better underlying performance of the cash market.

Affin Investment Bank Vice-President/Head of Retail Research Dr Nazri Khan said the FBM KLCI would likely test the 1,900-point psychological level on high volume and rising oscillators.

“Any decisive break above the 1,880-point level would mark a significant turning point, causing a flush of more buying up to 1,900 points, the major resistance level the market perceives as the next breakout price target,” he told Bernama.

For the week just ended, the benchmark FBM KLCI finished the week at 1,883.34, up 3.51 points from the previous week.

Both May 2014 and June 2014 rose 19 points each to 1,880.5 and 1,879.5 respectively, September 2014 gained 15 points to 1,872, while December 2014 increased 13 points to 1,871.

Turnover this week declined to 18,361 lots from last week’s 26,804 lots, while open interest widened to 33,429 contracts from 30,631 contracts last Friday. — Bernama