MARKET
Last Update :
15/02/2020 10:40 AM

By Farhana Poniman

KUALA LUMPUR, Feb 15 --  The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to trade lower next week, tracking the anticipated downtrend in the underlying cash market.

An analyst said the FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade between the range of 1,530 to 1551 next week, with a downside bias as market sentiment continued to be affected the Covid-19 outbreak and the possibility of another Overnight Policy Rate (OPR) cut to combat slower economic growth.

“However, losses will probably be capped as investors find relief on the upcoming economic stimulus package by the government, which is expected to contain specific relief packages for tourism-related industries such as aviation, hotel and leisure, travel as well as retail industries, to cushion the impact of the  Covid-19 outbreak.

“Finance Minister Lim Guan Eng said the government was still getting input from industry players for this stimulus package, which is expected to be announced on Feb 27 by Prime Minister Tun Dr Mahathir Mohamad,” he added.

On a Friday-to-Friday basis, spot month February 2020 and March 2020 fell nine points to 1,544 and 1,537, respectively, while June 2020 and September 2020 lost eight points each to 1,534.5 and 1,530, respectively.

Turnover fell to 37,029 lots from 44,627 lots last week, while open interest narrowed to 41,309 contracts from 44,627 contracts previously.

On a Friday-to-Friday basis, the FBM KLCI fell 10.03 points to 1,544.46 from 1,554.49 previously.

-- BERNAMA

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