FKLI
FKLI Spot Month Futures - 30 Sep 2024
Mon, 30-Sep-2024 08:18 am
by Dealing Team • Apex Futures

FKLI
Pivot
1668
Resistance
1671 / 1674 / 1679
Support
1663 / 1658 / 1655
Possible Range
1655 to 1675
Strategy
Long positions may be opened above 1663 with targets at 1668/1671 and stop-loss at 1658
Short positions may be opened below 1663 with targets at 1658/1655 and stop-loss at 1668

FKLI Oct month dropped 10.5 points or 0.63% to close lower at 1663.5. Selling on Bursa Malaysia increased on Friday as investors opted to take profits amid a lack of new catalysts. 

Overnight Dow Jones rose 137 points to 42313. Investor optimism for a soft landing of the U.S. economy will face scrutiny next week when the government releases key labor market data after several disappointing jobs reports. The benchmark S&P 500 index is up 20% year-to-date and is approaching record highs. With the third quarter concluding on Monday, the index is poised for its best performance from January to September since 1997. 

The FKLI kicked off today with October being the most actively traded month. Tracking the positive performance in US performance, FKLI index could supported in upside bias trading, if supported above 1668 to 1669, could see buying opportunity, else will remain in technical correction phase. Immediate support and resistance levels are identified at 1663 and 1671, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.939538 3.966364
EUR 4.621065 4.624861
CNY 0.577624 0.578108
HKD 0.502626 0.506063
SGD 3.082334 3.103499