KUALA LUMPUR, June 25 — The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts (FKLI) on Bursa Malaysia Derivatives are expected to be lower next week, in line with the weak outlook for the cash market.
Affin Hwang Investment Bank Vice-President/Retail Research Head, Datuk Dr Nazri Khan Adam Khan, said the FBM KLCI would decline further with sentiment weighed down by the unexpected referendum by Britain to exit the European Union.
“However, Bank Negara Malaysia’s measures which increased international reserves by RM300 million to RM382.6 billion would cushion any weakness,” he told Bernama.
For the holiday-shortened week just just-ended, the futures market was mixed on cautious trading. Spot month June 2016 fell 1.5 points to 1,625.50, July 2016 and December 2016 eased three points each to 1,624.50 and 1,607.00 while September 2016 down two points to 1,616.50.
Turnover increased to 39,276 lots from 36,091 lots last week while open interests increased to 58,365 contracts versus 42,463 contracts previously.
The benchmark FBM KLCI settled at 1,634.05, up 9.87 points from 1624.18 yesterday.
The market was closed on Wednesday for the Nuzul Al-Quran holiday. — Bernama
