FKLI
FKLI Spot Month Futures - 7 Apr 2025
Mon, 07-Apr-2025 08:39 am
by Dealing Team • Apex Futures

FKLI
Pivot
1505
Resistance
1496 / 1502 / 1511
Support
1487 / 1479 / 1470
Possible Range
1470 to 1500
Strategy
Long positions may be opened above 1487 with targets at 1496/1502 and stop-loss at 1481
Short positions may be opened below 1487 with targets at 1479/1470 and stop-loss at 1493

FKLI Apr month dropped 12 points or 0.79% to closed lower at 1502.5. The FBM KLCI tumbled 1% on Friday, extending its decline as investors took a risk-off approach amid broad losses across Asia following U.S. President Donald Trump’s sweeping tariffs.

Asian equity markets followed the global downturn, with recession fears mounting as unexpectedly harsh tariffs rattled investors, despite markets in China, Hong Kong, and Taiwan being closed for a holiday.

Overnight Dow Jones index falls 2231 points to closed lower at 38314. U.S. stock futures opened sharply lower late Sunday, indicating a continuation of the two-day selloff that erased trillions in equity value following the Trump administration's tariff announcement last week.

The actively traded FKLI contract is expected to open lower, tracking the sharp decline in the U.S. market. On the daily chart, the first support is identified in the 1492–1487 range, aligning with the uptrend line established since March 13. If the index holds within this range, we may see some consolidation and potential buying opportunities. However, if the market breaks below this level, further downside could emerge, potentially reaching the 1470–1475 range. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1487 and 1496, respectively.

(News Source: The Star; Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.949404 3.981238
EUR 4.633763 4.638745
CNY 0.579561 0.580180
HKD 0.504449 0.508017
SGD 3.094283 3.116286