FKLI
FKLI Spot Month Futures - 5 Sep 2024
Thu, 05-Sep-2024 08:16 am
by Dealing Team • Apex Futures

FKLI
Pivot
1655
Resistance
1658 / 1662 / 1667
Support
1652 / 1647 / 1643
Possible Range
1645 to 1665
Strategy
Long positions may be opened above 1655 with targets at 1658/1662 and stop-loss at 1650
Short positions may be opened below 1655 with targets at 1652/1647 and stop-loss at 1660

FKLI Sep month dropped 7 points or 0.42% to close lower at 1653. The FBM KLCI closed lower on Wednesday, following declines in Asian markets and a significant sell-off in Wall Street's technology stocks, amid growing investor concerns about a global economic slowdown. Additionally, investors are awaiting Bank Negara's monetary policy decision on Thursday, which is anticipated to keep the overnight policy rate unchanged.

Overnight Dow Jones rose 38 points to 40974. US stock futures were largely unchanged on Wednesday evening as Wall Street seeks to regain momentum following a rough start to September. Key labor market data is also set to be released this week. 

The FKLI remain trading in very tight range of consolidation potentially with downside bias. The immediate support and resistance levels are identified at 1652 and 1658, respectively.

(News Source: The Star, CNBC)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.389719 4.419319
EUR 4.730753 4.734314
CNY 0.613618 0.614097
HKD 0.564733 0.568558
SGD 3.307640 3.330253