KUALA LUMPUR, May 23 -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to move in sync with the underlying cash market next week.
According to Rakuten Trade Sdn Bhd vice-president of research, Vincent Lau, Bursa Malaysia was anticipated to hover between the 1,420 and 1,450-level next week, supported by rotational play expected to be seen in the rubber glove and logistics counters.
On a Friday-to-Friday basis, spot month May 2020 perked up 38.5 points to 1,438.5, June 2020 rose 39.5 points to 1,433.5, September 2020 added 38.0 points to 1,419.0, and December 2020 was 40.5 points higher at 1,415.0.
Turnover for the week surged to 52,769 lots compared with 47,689 lots in the previous week, while open interest increased to 47,394 contracts from 45,406 contracts in the week before.
The FBM KLCI was 33.32 points firmer at 1,436.76 against 1,403.44 at last Friday’s close.
Bursa Malaysia Bhd and its subsidiaries will be closed on Monday and Tuesday next week, in lieu of Hari Raya Aidilfitri celebration which falls on Sunday. Trading will resume on Wednesday, May 27, 2020.
Malaysia National News Agency
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