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Monday, March 16, 2009

KL Composite INDEX FUTURES ( FKLI )

MARKET REVIEW : Following the positive performance of overnight US market, Malaysian index futures opened 5 points higher at 840 last Friday, Buoyed by the surge in regional markets in the morning trading session, prices touched the day’s high at 846 as Japan and China signaled more measures to bolster their sagging economies. However, market steadily gave back its gains on weak follow through buying momentum, and quick profit-taking took its toll in tandem with the decline in its underlying cash market. Nevertheless Mar09 contract managed to settle 5.5 points higher at 840.5

As Wall Street marks 4 consecutive days of straight gains following better-than-expected retail sales outlook, index futures is likely to trade range-bound today within 836 and 850 levels today
Happy Trading

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