KUALA LUMPUR, Dec 19 ― The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts (FKLI) on Bursa Malaysia Derivatives are expected to rebound next week, tracking the bulllish outlook in the underlying cash market.
Affin Hwang Investment Bank Vice-President/Head of Retail Research Datuk Dr Nazri Khan Adam Khan said the FBM KLCI will likely trend higher next week onwards, following the slightly higher interest rates introduced by the US Federal Reserve (Fed), signalling an improvement in the world's largest economy, which will boost the sentiment.
The Fed raised the range of its benchmark lending rate by a quarter of a percentage point to between 0.25 per cent and 0.50 per cent.
The Fed's 25-basis-point increase was the first in nine years since the 2007-2009 financial crisis.
On a week-to-week basis, December 2015 declined 13.5 points to 1,642, January 2016 rose 10 points to 1,639, March 2016 added 10.5 points to 1,623.50 and June 2016 gained 12 points to 1,607.
Weekly turnover rose to 48,685 lots from 27,639 lots last Friday while open interest improved to 58,062 contracts from 48,230 contracts previously. ― Bernama
