FKLI
FKLI Spot Month Futures - 12 July 2024
Fri, 12-Jul-2024 08:25 am
by Dealing Team • Apex Futures

FKLI
Pivot
1621
Resistance
1624 / 1627 / 1630
Support
1617 / 1614 / 1612
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1620 with targets at 1624/1627 and stop-loss at 1615
Short positions may be opened below 1620 with targets at 1617/1614 and stop-loss at 1625

FKLI July month rose 2 points or 0.12% to close higher at 1619. The FBM KLCI surged for a third consecutive day, reflecting investor optimism due to increasing expectations of a US interest rate cut in September.

Overnight Dow Jones rose 32 points to 39753. A global stock index slightly declined, and bond yields decreased on Thursday following U.S. inflation data that increased expectations of interest rate cuts. Meanwhile, the yen strengthened against the dollar, prompting speculation about potential intervention by Japan to bolster its currency.

Tracking the mixed performance of US performance, the FKLI potentially trade in sideway consolidation with slightly downside bias. The immediate support and resistance levels are identified at 1617 and 1624, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186344 4.224837
EUR 4.692802 4.707788
CNY 0.594564 0.595974
HKD 0.537155 0.542118
SGD 3.243708 3.273864