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KUALA LUMPUR (Aug 22): The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to move in line with the underlying cash market next week.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the FBM KLCI would likely move within the range of between 1,550 and 1,600 points in the coming week, due to the lack of fresh leads from the external and local front.
"The only major economic data due for release next week will be July's trade data, which will likely show a continuation of growth in exports,” he told Bernama.
For the week just-ended, the local market was opened for four days as Bursa Malaysia and its subsidiaries were closed on Thursday for the Maal Hijrah celebration.
On a Friday-to-Friday basis, spot month August 2020 rose 11.5 points to 1,572.0, September 2020 and December 2020 bagged 12.0 points each to 1,564.5 and 1,557.0 respectively, while distant month March 2021 increased 12.5 points to 1,546.5.
Turnover dropped to 40,791 lots versus 44,967 lots in the previous week, while open interest widened to 39,741 contracts from 38,167 contracts previously.
The FBM KLCI ended 12.53 points higher to 1,577.12 on Friday, compared with 1,564.59 on the previous Friday.
