KLCI futures continue upward momentum
Publish date: Tue, 10 Sep 2013, 10:27 AM
The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives continued their uptrend momentum in morning trade today in line with a stronger cash market.
RHB Retail Research said that buying is likely to continue today, though it is not impossible that the index may need to digest yesterday's strong move.
"A firm upside bias likely to keep the FKLI above 1,740, and yesterday's intraday level. It is also preferable that the index stays above 1,750," it said in its research note.
At 10.08am, spot month September 2013 increased 22 points to 1,773, October 2013 jumped 24 points to 1,773.5, December 2013 gained 23.5 points to 1,768 while March 2014 remained untraded at yesterday's level of 1,734.
Turnover stood at 6,379 lots while open interest totalled 43,503 contracts.
The underlying FBM KLCI rose 26.53 points to 1,773.56.-- Bernama
RHB Retail Research said that buying is likely to continue today, though it is not impossible that the index may need to digest yesterday's strong move.
"A firm upside bias likely to keep the FKLI above 1,740, and yesterday's intraday level. It is also preferable that the index stays above 1,750," it said in its research note.
At 10.08am, spot month September 2013 increased 22 points to 1,773, October 2013 jumped 24 points to 1,773.5, December 2013 gained 23.5 points to 1,768 while March 2014 remained untraded at yesterday's level of 1,734.
Turnover stood at 6,379 lots while open interest totalled 43,503 contracts.
The underlying FBM KLCI rose 26.53 points to 1,773.56.-- Bernama
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hiddengem
The market is at the crossroad, on both side of the road either left or right is no entry sign. There is only two alternative, continue to accelerate with yr full energy to surge forward to conquer the bumpy road & hazy condition ahead.
But I doubt v can make it after 12 hours of rally since yesterday. Instead the reverse direction is unavoidable & become a reality i.e. consolidation will take place very soon.
This is my personal opinion. Good luck.
2013-09-10 13:17