FKLI
FKLI Spot Month Futures - 3 Feb 2025
Mon, 03-Feb-2025 08:31 am
by Dealing Team • Apex Futures

FKLI
Pivot
1556
Resistance
1560 / 1564 / 1568
Support
1556 / 1552 / 1548
Possible Range
1545 to 1565
Strategy
Long positions may be opened above 1560 with targets at 1564/1568 and stop-loss at 1555
Short positions may be opened below 1560 with targets at 1556/1552 and stop-loss at 1565

FKLI Feb month rose 5.5 points or 0.35% to closed higher at 1557. The FBM KLCI recovered from early losses to close the holiday-shortened trading week on a positive note on Friday session, supported by renewed buying interest despite thin trading, according to an analyst. 

Overnight Dow Jones index dropped 337 to closed lower at 44544. U.S. stocks closed lower on Friday as indexes declined following the White House announcement that President Donald Trump would impose 25% tariffs on Canadian and Mexican imports and 10% on Chinese goods starting Saturday. Investors had been anticipating further tariff developments, as Trump had frequently signaled his intent to use such measures. The uncertainty surrounding the economic and inflationary impacts of these tariffs has added to market concerns. 

The FKLI formation remains bearish on the daily chart, with the index trading near the bottom of its downward channel. However, it is currently holding above the 1550–1555 area, a critical support zone that aligns with the retracement correction level of the recent uptrend since January 17. If this support fails to hold, we may see selling pressure resume, continuing the bearish rebound trend. Immediate support and resistance levels are identified at 1556 and 1560, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
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EUR 4.632284 4.636049
CNY 0.579684 0.580150
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