FKLI
FKLI Spot Month Futures - 1 Aug 2024
Thu, 01-Aug-2024 08:37 am
by Dealing Team • Apex Futures

FKLI
Pivot
1628
Resistance
1634 / 1637 / 1640
Support
1628 / 1625 / 1622
Possible Range
1625 to 1640
Strategy
Long positions may be opened above 1628 with targets at 1634/1637 and stop-loss at 1623
Short positions may be opened below 1628 with targets at 1625/1622 and stop-loss at 1633

FKLI Aug month surged 14.5 points or 0.9% to close higher at 1629. Bursa Malaysia benchmark index closed higher on Wednesday, buoyed by strong buying interest in financial heavyweights, despite a mixed performance on Wall Street.

Overnight Dow Jones rose 99 points to 40842. On Wednesday, the S&P 500 and Nasdaq posted their largest daily percentage gains since February 22, and the Dow also rose. This rally was driven by gains in chip stocks and the Federal Reserve's decision to keep U.S. interest rates unchanged, with a hint of potential easing in September if inflation moderates.

Tracking the positive performance of US performance, the FKLI could remain in upside bias trading. The immediate support and resistance levels are identified at 1628 and 1634, respectively.

(News Source: NST, 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