FKLI
FKLI Spot Month Futures - 2 Oct 2024
Wed, 02-Oct-2024 08:18 am
by Dealing Team • Apex Futures

FKLI
Pivot
1656
Resistance
1660 / 1664 / 1667
Support
1654 / 1650 / 1646
Possible Range
1645 to 1665
Strategy
Long positions may be opened above 1657 with targets at 1660/1664 and stop-loss at 1652
Short positions may be opened below 1657 with targets at 1654/1650 and stop-loss at 1662

FKLI Oct month rose 3.5 points or 0.21% to close higher at 1657. The FBM KLCI closed higher on Tuesday, supported by buying interest in index-linked stocks, particularly PETRONAS Chemicals, Public Bank, and Maybank.

Overnight Dow Jones dropped 173 points to 42156. U.S. stocks fell on Tuesday, with the Nasdaq down over 1%, as investor caution grew after Iran fired missiles at Israel in retaliation for Israeli actions against Hezbollah. In response, President Biden directed the military to support Israel's defense and intercept incoming missiles, according to the White House National Security Council.

Tracking the negative performance in US performance, FKLI index could trade within a range. Technically, the index remains trading with sideway consolidation, potentially moving into either direction, for short term, we anticipate downside bias on technical correction mode. Immediate support and resistance levels are identified at 1654 and 1660, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.936314 3.967989
EUR 4.615974 4.625491
CNY 0.577616 0.578239
HKD 0.502266 0.506322
SGD 3.083269 3.108163