FKLI
FKLI Spot Month Futures - 23 Jan 2025
Thu, 23-Jan-2025 08:23 am
by Dealing Team • Apex Futures

FKLI
Pivot
1579
Resistance
1583 / 1587 / 1592
Support
1574 / 1569 / 1565
Possible Range
1572 to 1592
Strategy
Long positions may be opened above 1579 with targets at 1583/1587 and stop-loss at 1574
Short positions may be opened below 1579 with targets at 1574/1569 and stop-loss at 1584

FKLI Jan month rose 9 points or 0.57% to closed higher at 1581.5. The FBM KLCI extended its gains for the fourth straight day on Wednesday, driven by strong overnight performance on Wall Street and Bank Negara Malaysia's decision to maintain the Overnight Policy Rate (OPR) at 3.0%.

Overnight Dow Jones index rose 130 to closed higher at 44156. Wall Street's indexes climbed on Wednesday, with the S&P 500 reaching an intraday record high as investors celebrated Netflix's strong quarterly report and President Donald Trump's plan to invest in private-sector artificial intelligence infrastructure.

The FKLI in daily time frame holding above 1577 to 1576 and move further higher, we remain our call to buy on retracement for short term period, if breaking above resistant range of 1583 to 1582, the index may move further higher. Bigger picture still sees major resistant at 1600. Beware of any sentiment change. Immediate support and resistance levels are identified at 1574 and 1583, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.952219 3.979032
EUR 4.632284 4.636049
CNY 0.579684 0.580150
HKD 0.504395 0.507834
SGD 3.092296 3.113419