KUALA LUMPUR – The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives will likely trade in cautious mode next week, with investors eyeing more market-moving catalysts.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said looking ahead, the local cash market is not expected to see any significant event next week, while the high number of Covid-19 cases in the country could continue to dampen sentiments.
“However, the corporate earnings season could provide some upside if the financial performance recorded during the quarter ended June 2021 reveals better-than-expected results,” he told Bernama.
For the week just ended, August 2021 rose 19.5 points to 1,504.0, September 2021 gained 14.5 points to 1,492.0, December 2021 improved 12.5 points to 1,483.5, and March 2022 went up 17.5 points to 1,474.
During the shorter trading week, turnover fell sharply to 25,800 lots from 35,385 lots in the previous week, while open interest narrowed to 36,471 contracts from 36,880 contracts previously.
On a Friday-to-Friday basis, FBM KLCI rose 15.31 points to settle at 1,505.11 from 1,489.80 a week earlier. – Bernama, August 14, 2021
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