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KUALA LUMPUR, April 17 -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to trade slightly higher in the coming week amid cautious market sentiment and in tandem with the underlying cash market.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the FBM KLCI is expected to trade within a tight range of between 1,600 and 1,615 points in the week ahead as investors would seek to find a balance between the nation's vaccination progress with the recent uptick in COVID-19 cases, signalling a fourth wave.
He said Malaysia’s consumer price index (CPI) data to be released next week would also influence investors’ risk appetite.
“Malaysia is likely to record a stronger year-on-year (YoY) growth in March compared to the 0.1 per cent YoY growth in February, amid a low base effect, mainly due to the movement control order in March last year,” he said.
Adam added that investors would closely watch the upcoming European Central Bank meeting, scheduled on next Thursday, that would likely provide guidance on its bond purchase moving forward.
On a Friday-to-Friday basis, spot month April 2021 eased 5.5 points to 1,606.5, May 2021 trimmed 5.0 points to 1,602.0, June 2021 fell 4.5 points to 1,600.5, while September 2021 erased 3.5 points to 1,589.00.
Turnover fell to 26,546 lots this week from 35,882 lots in the previous week, while open interest narrowed to 36,522 contracts from 38,186 contracts a week earlier.
On a Friday-to-Friday basis, the benchmark FBM KLCI decreased marginally by 3.87 points to end this week at 1,608.38 from 1,612.25 registered last Friday.