FKLI
FKLI Spot Month Futures - 18 January 2024
Thu, 18-Jan-2024 09:01 am
by Dealing Team • Apex Futures

FKLI
Pivot
1492
Resistance
1496 / 1502 / 1512
Support
1486 / 1482 / 1472
Possible Range
1486 to 1496
Strategy
Long positions may be opened above 1492 with targets at 1496/1502 and stop-loss at 1487
Short positions may be opened below 1492 with targets at 1486/1482 and stop-loss at 1497

FKLI Jan month fell 5.5 points or 0.37% to 1490.5 closed lower. Bursa Malaysia ended lower on Wednesday in tandem with its regional peers, jittered by uncertainties over the US interest rates path as well as the health of China’s economy after the release of its 2023 gross domestic product (GDP).

Overnight Dow Jones fell 94 points. U.S. stocks followed their European counterparts to a lower close on Wednesday and U.S. Treasury yields resumed their uphill climb as robust economic data chilled bets that the Federal Reserve could begin reducing its policy rate as early as March.

Following the bearish performance of the US market, the FKLI could trade lower. A break below 1487 (yesterday's low) would target 1486/1482. On the flip side, the next resistance is located at 1492 (Pivot), followed by 1497 (Yesterday’s high), and finally 1502 (R2).

FKLI : 由于中国第 4 季度 GDP 数据弱于预期,富时隆综指 (-0.18%) 小幅走低。

做多策略 :可在1492上方做多,目标价 1496/1502,止损位1487
做空策略 :可在1492下方做空,目标价 1486/1482,止损位1497

(News Source: The Edge; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.471088 4.501214
EUR 4.716896 4.721211
CNY 0.617809 0.618311
HKD 0.574231 0.578627
SGD 3.318606 3.341159