FKLI
FKLI Spot Month Futures - 16 Oct 202
Wed, 16-Oct-2024 08:12 am
by Dealing Team • Apex Futures

FKLI
Pivot
1638
Resistance
1638 / 1642 / 1646
Support
1633 / 1629 / 1625
Possible Range
1625 to 1645
Strategy
Long positions may be opened above 1638 with targets at 1642/1646 and stop-loss at 1633
Short positions may be opened below 1638 with targets at 1633/1629 and stop-loss at 1643

FKLI Oct month rose 8 points 0.49% to close higher at 1641.5. Bursa Malaysia’s benchmark index closed higher on Tuesday, buoyed by modest buying in consumer products and services, telecommunications, and banking stocks, despite a mixed performance in regional markets.

Overnight Dow Jones dropped 324 points to close lower at 42740. U.S. stocks fell on Tuesday, joining a global decline as a weak sales forecast from chipmaker ASML pressured tech shares. Additionally, crude oil prices continued to drop amid easing supply concerns and weakening demand. The three major U.S. indexes finished the session in the red, with the S&P 500 and the Dow retreating from Monday's record closing highs.

Tracking the bearish performance in US performance, FKLI index could trade in downside bias, if breaking above 1633 and 1634 could see further lower. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1633 and 1638, 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