KUALA LUMPUR – The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is expected to move higher next week in tandem with the underlying cash market’s bullish outlook.
Speaking to Bernama, Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the positive sentiment will likely be supported by the country’s Covid-19 vaccination progress.
He said the number of doses administered daily was above 200,000 from Tuesday to Thursday, giving hope that 80% of the population will be inoculated by year-end.
Malaysia is set to release its May inflation data, which may continue to show a year-on-year rise due to the low base effect from 2020, he said.
He said other events on investors’ radar are the policy meetings of the central banks of Thailand and the Philippines, where the lenders are likely to continue their accommodative stance, given the uneven pandemic recovery path.
For the week just ended, June and July added 10.5 points each to 1,580 and 1,581.0, respectively, while September rose 10 points to 1,573.0, and December was 11.5 points firmer at 1,568.0.
Turnover dropped to 31,539 lots versus 33,353 in the previous week, while open interest went up to 42,502 contracts from 42,268 previously.
On a Friday-to-Friday basis, FBM KLCI rose 13.89 points to 1,589.05 from 1,575.16. – Bernama, June 19, 2021
