FBM KLCI futures likely to trend lower next week
The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives are likely to trade lower next week, taking cue from the performance of the local bourse, dealers said.
They said a bearish market sentiment has created uncertainties in the market, prompting cautious trading among investors in the near term.
During the week, the FBM KLCI futures market were lower for four consecutive days before rebounding and closing higher on Friday.
On weekly basis, Feb 2013 shed a point to 1,617, March 2013 declined three points to 1,612, June 2013 slipped two points to 1,602 and Sept 2013 was 1.5 points lower at 1,594.5.
Total turnover surged to 32,266 lots from 16,694 lots recorded last week while open interest improved to 39,179 contracts from 31,900 contracts previously.
On Friday-to-Friday basis, the benchmark index FBM KLCI eased 5.85 points to 1,622.08 compared with last Friday's closing of 1,627.93.
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