FKLI
FKLI Spot Month Futures - 20 June 2024
Thu, 20-Jun-2024 08:26 am
by Dealing Team • Apex Futures

FKLI
Pivot
1602
Resistance
1602 / 1607 / 1612
Support
1592 / 1588 / 1582
Possible Range
1580 to 1610
Strategy
Long positions may be opened above 1598 with targets at 1602/1607 and stop-loss at 1593
Short positions may be opened below 1598 with targets at 1592/1588 and stop-loss at 1603

FKLI June month dropped 11.5 or 0.71% to closed lower at 1597. The FBM KLCI index closed lower on Wednesday in a tight trading range as investors took profits while adopting a wait-and-see approach amid a consolidation phase.

In Asian market, Hong Kong markets soared over 2% on Wednesday, leading gains in Asia, buoyed by energy and basic material stocks. Across the Asia-Pacific region, the Taiwan Weighted Index hit an all-time high above 23,000. Traders focused on Japan's May trade figures, showing exports rose 13.5% year-on-year and imports increased by 9.5%. US market to resume trading today.

Assessing positive performance of the regional market, the FKLI is likely to consolidate with some upside bias, with bargain hunting activities coming in, however upside remain limited. The immediate support and resistance levels are identified at 1592 and 1602, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186095 4.224386
EUR 4.685732 4.700656
CNY 0.595462 0.596801
HKD 0.537358 0.541779
SGD 3.239345 3.269267