FKLI
FKLI Spot Month Futures - 24 Apr 2025
Thu, 24-Apr-2025 08:29 am
by Dealing Team • Apex Futures

FKLI
Pivot
1494
Resistance
1505 / 1513 / 1520
Support
1496 / 1488 / 1480
Possible Range
1480 to 1520
Strategy
Long positions may be opened above 1496 with targets at 1505/1513 and stop-loss at 1490
Short positions may be opened below 1496 with targets at 1488/1480 and stop-loss at 1502

FKLI Apr month rose 11 points or 0.74% to closed higher at 1496.5. The FBM KLCI closed above the psychological 1,500-point level on Wednesday, lifted by positive sentiment across regional markets. The improved mood was driven by encouraging external cues, particularly remarks from U.S. President Donald Trump, who eased market concerns by stating he has no intention of removing Federal Reserve Chair Jerome Powell and that tariffs on China would remain well below the current 145% rate.

Overnight Dow Jones rise 419 to closed higher at 39606. Major stock indexes climbed on Wednesday, the dollar strengthened against the euro and other currencies, while safe-haven gold fell, as the Trump administration indicated a possible de-escalation in its trade tensions with China.

The actively traded FKLI contract continues to move within a broader downward channel on the daily chart, but shows upward momentum driven by technical buying. In the shorter time frame, the index remains within an upward channel, with support holding above the 1488–1489 zone since the previous session. We maintain our buy-on-retracement view, with the potential for the index to move toward the 1515–1518 range if it stays supported above the 1496–1498 area. Otherwise, a sideways consolidation is likely, with key support seen at the 1493–1494 range. Stay cautious of potential sentiment changes. Immediate support and resistance levels are identified at 1496 and 1505, respectively.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.061877 4.094367
EUR 4.778623 4.788197
CNY 0.579532 0.580122
HKD 0.522115 0.526303
SGD 3.147144 3.172563