FKLI
FKLI Spot Month Futures - 14 Aug 2024
Wed, 14-Aug-2024 08:38 am
by Dealing Team • Apex Futures

FKLI
Pivot
1615
Resistance
1620 / 1625 / 1630
Support
1612 / 1608 / 1603
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1615 with targets at 1620/1625 and stop-loss at 1610
Short positions may be opened below 1615 with targets at 1612/1608 and stop-loss at 1620

FKLI Aug month rose 2 points or 0.12% to close higher at 1611. The FBM KLCI held above the 1,600 psychological level as it reached the lunch break, reflecting a rebound in regional sentiment.

Overnight Dow Jones rose 408 points to 39765. Wall Street stocks surged and bond yields dropped on Tuesday after data revealed U.S. producer prices rose less than anticipated in July. This reinforced market expectations that easing inflation could prompt the Federal Reserve to lower interest rates soon.

Tracking the positive performance of US performance, the FKLI could potentially trade higher. The immediate support and resistance levels are identified at 1612 and 1620, respectively.

(News Source: The Star; Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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