The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is prone to commerce throughout the present stage subsequent week in sync with the consolidation that’s anticipated to persist within the money market.
Rakuten Commerce fairness analysis vice-president Thong Pak Leng mentioned buyers are awaiting extra readability in regards to the financial outlook from the Federal Open Market Committee’s closing assembly of the 12 months from Dec 12-13.
The essential US Shopper Value Index (CPI) information for November may also be launched on Dec 13.
He mentioned latest US information units have satisfied the market that the Federal Reserve wouldn’t raise its borrowing benchmark this month.
Nonetheless, market sentiment continued to be influenced by the continuing Center East tensions and oil actions this week, with the worth decline coming into the seventh consecutive week amid worries over surplus and weak demand.
Due to this fact, he mentioned, home market sentiment is anticipated to stay weak for now.
For the week simply ended, December 2023 dipped 19.5 factors to 1,441.5 and January 2024 was 19 factors weaker at 1,444.0, whereas March 2024 and June 2024 gave up 17 factors every to 1,430.5 and 1,432.0, respectively.
Weekly turnover fell to 35,279 heaps from 136,437 heaps within the earlier week, whereas open curiosity decreased to 40,764 contracts from 44,081 contracts beforehand.
On a Friday-to-Friday foundation, the FBM KLCI slid 14.41 factors to finish the week at 1,441.97 versus 1,456.38 every week earlier. — BERNAMA