FKLI
FKLI Spot Month Futures - 3 Sep 2024
Tue, 03-Sep-2024 08:17 am
by Dealing Team • Apex Futures

FKLI
Pivot
1664
Resistance
1667 / 1672 / 1677
Support
1658 / 1652 / 1647
Possible Range
1650 to 1670
Strategy
Long positions may be opened above 1664 with targets at 1667/1672 and stop-loss at 1659
Short positions may be opened below 1664 with targets at 1658/1652 and stop-loss at 1669

FKLI Sep month dropped 8.5 points or 0.51% to close lower at 1663. Despite starting higher, the FBM KLCI experienced mild profit-taking and stayed in negative territory for most of the day, although the broader market remained positive. 

Overnight Dow Jones rose 15 points to 41634. Share markets dipped slightly on Monday as investors prepared for a week full of data, including a crucial U.S. jobs report that could determine whether the anticipated rate cut this month will be modest or substantial. 

Survey data released on Saturday indicated that Chinese manufacturing activity fell to a six-month low in August, and Monday's data showed that euro zone factories are still facing challenges. Additionally, victories for populist parties in German state elections introduced more political uncertainty in European markets. The presence of a holiday in the United States and Canada also contributed to lower market liquidity. 

The FKLI remain trading in very tight range of consolidation potentially with downside bias. The immediate support and resistance levels are identified at 1658 and 1667, 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