FKLI
FKLI Spot Month Futures - 17 July 2024
Wed, 17-Jul-2024 08:21 am
by Dealing Team • Apex Futures

FKLI
Pivot
1631
Resistance
1636 / 1638 / 1641
Support
1929 / 1627 / 1625
Possible Range
1620 to 1640
Strategy
Long positions may be opened above 1631 with targets at 1636/1638 and stop-loss at 1626
Short positions may be opened below 1631 with targets at 1629/1627 and stop-loss at 1637

FKLI July month dropped 4.5 points or 0.28% to close lower at 1629.5. The FBM KLCI began positively on Tuesday morning but failed to maintain its momentum as profit-taking set in, particularly affected by banking and telecommunication stocks.

Overnight Dow Jones jumped 742.76 points to 40,954. Stocks on Wall Street climbed, with the Dow Jones Industrial Average reaching a record closing high on Tuesday. This surge followed U.S. retail sales data which reinforced expectations that the Federal Reserve is moving towards an easing cycle, aiming to control inflation without triggering a recession.

(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