FKLI
FKLI Spot Month Futures - 11 June 2024
Tue, 11-Jun-2024 08:22 am
by Dealing Team • Apex Futures

FKLI
Pivot
1614
Resistance
1618 / 1623 / 1627
Support
1611 / 1607 / 1602
Possible Range
1600 to 1630
Strategy
Long positions may be opened above 1615 with targets at 1618/1623 and stop-loss at 1610
Short positions may be opened below 1615 with targets at 1611/1607 and stop-loss at 1620

FKLI June month dropped 7 points or 0.43% to close lower at 1611.5. The Malaysia benchmark’s FBMKLCI index ended in negative territory as investors shifted their focus to small-cap stocks.

Attention is also on the US inflation figures for May, which will be released on the same day as the conclusion of the Federal Open Market Committee meeting on June 12.Additionally, market focus has turned to broader political concerns in the Eurozone following the snap election call in France.

Overnight Dow Jones up 69 points to 38868. On Monday, the S&P 500 and Nasdaq managed to secure record closing highs, albeit with investors exercising caution ahead of several key events this week, including the consumer prices report, a Federal Reserve policy announcement, and Apple's developer conference.

Following the slightly bullish performance of the US market, the FKLI could remain to trade in a range bound. The immediate support and resistant range spotted at 1611 and 1618

(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