FKLI Technical Rebound Not Surprising
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| Recommendations SELL INTO STRENGTH |
FKLI higher in line with cash market
THE FTSE Bursa Malaysia Kuala LumpurComposite Index (FBM KLCI) futures contractson Bursa Malaysia Derivatives closedhigher yesterday in tandem with the bullish cash market.
The February 2011 gained 1.5 points to1,530, March 2011 rose 1.0 point to 1,530.5,
June 2011 added 2.0 points to 1,527 and September 2011 added 5.5 points to 1,527.
Volume advanced to 8,956 lots from last We d n e s d ay ’s 5,431 lots, while open interest
swelled to 21,193 contracts from 20,484 last Wednesday.
Meanwhile, the FBM KLCI rose 3.78 points to close at 1,535.60.
CPO succumbs to profit takings losing early gains
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| Recommendation Sell as per recommended in chart commentary |
CPO Close Easier
CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed easier yesterday, as investors locked-in gains after the price surged to the highest level since March 2008 in intra-day trading, dealers said. The benchmark April CPO contract went up to as high as RM3,915.
“The market opened higher as weather concerns lingered on floods in several states will affect production.
The stronger ringgit also supported profit-taking,” a dealer said. He said traders are expected to continue booking profits this week unless any bullish market factor kicks-in.
February 2011 fell RM13 to RM3,910, March 2011 dwindled RM25 to RM3,890, April 2011 eased RM27 to RM3,868 and May 2011 was down RM13 to RM3,832.
HAPPY TRADING
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