FKLI
FKLI Spot Month Futures - 5 Dec 2024
Thu, 05-Dec-2024 08:23 am
by Dealing Team • Apex Futures

FKLI
Pivot
1614
Resistance
1618 / 1622 / 1627
Support
1614 / 1611 / 1608
Possible Range
1610 to 1630
Strategy
Long positions may be opened above 1615 with targets at 1618/1622 and stop-loss at 1610
Short positions may be opened below 1615 with targets at 1611/1608 and stop-loss at 1620

FKLI Dec month rose 10.5 points or 0.65% to closed higher at 1618.5. The FBM KLCI closed higher on Wednesday, in line with most regional markets, as investors continued to accumulate selected heavyweight stocks, driven primarily by utility counters. 

Overnight Dow Jones rose 308 points to closed higher at 45014. A rally in U.S. tech stocks, coupled with expectations of lower interest rates, lifted global markets on Wednesday, while the euro and dollar remained stable despite political unrest in South Korea and France. Wall Street’s major indexes surged to record closing highs, driven by gains in tech stocks and remarks from Federal Reserve officials. Notably, Salesforce and chipmaker Marvell Technology posted strong third-quarter results. 

The FKLI seems broke up from resistant line of upward channel at around 1616 to 1617, if standing above this line, the index could go further higher toward next resistant line. trader may consider buy on retracement. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1614 and 1618, respectively.

(News Source: Bernama; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.936314 3.966986
EUR 4.638033 4.641717
CNY 0.579004 0.579460
HKD 0.502535 0.505960
SGD 3.092229 3.113332