FKLI
FKLI Spot Month Futures - 29 Aug 2024
Thu, 29-Aug-2024 08:14 am
by Dealing Team • Apex Futures

FKLI
Pivot
1678
Resistance
1683 / 1688 / 1693
Support
1673 / 1666 / 1658
Possible Range
1665 to 1690
Strategy
Long positions may be opened above 1678 with targets at 1683/1688 and stop-loss at 1673
Short positions may be opened below 1678 with targets at 1673/1666 and stop-loss at 1683

FKLI Aug month rose 27.5 points or 1.66% to close higher at 1681.5. The FBM KLCI climbed for the third consecutive day, rising 1.39% to reach its highest level in nearly four years, as investors flocked to blue-chip stocks.

Overnight Dow Jones dropped 159 points to 41091. U.S. stocks declined on Wednesday as investors awaited Nvidia's quarterly report, the week's key event on Wall Street that could either boost or dampen the ongoing rally fueled by optimism in artificial intelligence. Shares of Nvidia, the leading AI processor supplier set to report after the close, fell 2.1%, reducing their year-to-date gain to 154%.

Tracking the negative performance of US performance, the FKLI potentially to experience a mild technical correction, as upside still intact. The immediate support and resistance levels are identified at 1673 and 1683, 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