FKLI
FKLI Spot Month Futures - 5 June 2024
Wed, 05-Jun-2024 08:04 am
by Dealing Team • Apex Futures

FKLI
Pivot
1615
Resistance
1624 / 1629 / 1634
Support
1612 / 1606 / 1598
Possible Range
1599 to 1640
Strategy
Long positions may be opened above 1615 with targets at 1624/1629 and stop-loss at 1610
Short positions may be opened below 1615 with targets at 1612/1606 and stop-loss at 1620

FKLI June month rose 19 point or 1.19% to end higher at 1622. Malaysia's benchmark index FBM KLCI rose as investors targeted selected stocks amid a recent downturn. Asian markets dipped on U.S. economic concerns, while falling oil prices weighed on energy firms following output increase announcements. Attention shifts to the ECB rate decision and U.S. payrolls data later this week.

Overnight Dow Jones rise 140 points. On Tuesday, U.S. stocks closed slightly higher after the release of labor market data that was weaker than anticipated, reinforcing the anticipation of an interest rate cut by the Federal Reserve.

Following the bullish performance of the US market, the FKLI could continue previous session gain to trade slightly higher. The immediate support and resistant range spotted at 1615 and 1624.

(News Source: The Star; Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.186095 4.224386
EUR 4.685732 4.700656
CNY 0.595462 0.596801
HKD 0.537358 0.541779
SGD 3.239345 3.269267