FKLI
FKLI Spot Month Futures - 8 Apr 2025
Tue, 08-Apr-2025 08:39 am
by Dealing Team • Apex Futures

FKLI
Pivot
1439
Resistance
1449 / 1460 / 1468
Support
1439 / 1428 / 1420
Possible Range
1430 to 1460
Strategy
Long positions may be opened above 1449 with targets at 1460/1468 and stop-loss at 1443
Short positions may be opened below 1449 with targets at 1439/1428 and stop-loss at 1455

FKLI Apr month plunged 70 points or 4.66% to closed lower at 1432.5. The FBM KLCI endured a sharp selloff on Monday, sinking to a 16-month low as heavy selling pressure gripped the market. The decline mirrored a regional downturn, fueled by fears of a global trade war and economic slowdown, prompting a widespread flight from risk.

Overnight Dow Jones index dropped 349 points to closed lower at 37965. The S&P 500 and Dow closed lower on Monday after a volatile session, weighed down by fears of an economic slowdown and rising inflation. Markets remained under pressure as President Trump reinforced his tariff stance, warning of further hikes on China, extending the selloff that began after his sweeping tariff announcement last Wednesday.

The actively traded FKLI contract hit a low of 1409 in the previous session, matching the October 2023 low. The market saw some recovery, consolidating within an upward channel after the sharp decline. However, we maintain a bearish outlook on the index. Today, technical buying may emerge with limited upside. Key resistance is at 1449–1455—a breakout above this could lead to the next resistance at 1465–1468. If the index fails to break this crucial resistance, selling pressure may resume, with a break below 1439–1436 potentially triggering further downside. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1439 and 1449, respectively.

(News Source: The Star; Reuters)

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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
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