FBM KLCI Futures Expected To Be Higher Next Week

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures contracts on Bursa Malaysia Derivatives are expected to move higher in tandem with the equity market performance, analysts said.

According to them, market sentiment will continue to be very positive while technical outlook is still firmly bullish. "Unexpected economic recovery led by the United States will help to boost market sentiment to a positive tone next week," said one of the analysts.

On a Friday-to-Friday basis, the spot month August 2009 and September 2009 contracts rose five points each to 1,183.5 and 1,181.5respectively. December 2009 increased five points to 1,175.5 and March 2010 went up seven points to 1,170.5.

A total of 22,597 lots were transacted this week, down from 30,157 lots last week, while open interest on Friday rose to 22,952 contracts from 21,359 contracts previously.

On the cash market, the underlying FBM KLCI added 3.69 points to end the week at 1,188.57 from 1,184.88 previously.