FKLI Related News (Tues, Apr 2)

NEW YORK (Reuters) - Stocks fell on Monday in one of the lightest volume days of the year, pulling back after the S&P 500's record closing high last week and after weaker-than-expected manufacturing data. Apple (AAPL.O) was the biggest drag on both the S&P 500 and Nasdaq 100 (.NDX), falling 3.1 percent to $428.91. Fidelity Contrafund, a $92 billion fund that is the largest active shareholder in Apple, reported that it cut its stake in the iPhone maker by 10 percent during the first two months of 2013. Data showed factory activity grew at the slowest rate in three months in March, suggesting the economy lost some momentum at the end of the first quarter.

The benchmark S&P index remains below its record intraday high of 1,576.09. Moves may be limited this week in the absence of major catalysts before the closely watched U.S. monthly payrolls report on Friday. The Dow Jones industrial average (.DJI) was down 5.69 points, or 0.04 percent, at 14,572.85. The Standard & Poor's 500 Index (.SPX) was down 7.02 points, or 0.45 percent, at 1,562.17. The Nasdaq Composite Index (.IXIC) was down 28.35 points, or 0.87 percent, at 3,239.17. Volume was second-lowest of the year, with roughly 5.16 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT.

With the strong start to the year, many investors have been anticipating a pullback. Uncertainty over the economic future of Cyprus has weighed on stocks in recent sessions. European markets were closed on Monday for a holiday. In the day's economic data, the Institute for Supply Management said its index of national factory activity fell to 51.3 last month from 54.2 in February. A reading above 50 indicates expansion in the manufacturing sector. A report from the Commerce Department showed construction spending rose more than expected in February, gaining 1.2 percent, above forecasts of a 1 percent rise.

Bursa Malaysia ended lower in thin trading yesterday on lack of buying interests despite mixed performances on the regional bourses dealers said. The FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 4.02 points to close at 1667.61 after opening 0.25 point higher at 1671.88. FKLI spot month contract opened lower this morning following Wall Street’s fall on weak factory data.

Today’s Support and Resistance for April contract is located around 1,650 and 1,670 respectively.