FKLI Related News

Malaysian stocks fell to a two-month low and a gauge of price swings climbed to an 11-month high on speculation the government will dissolve parliament after the Lunar New Year for an election. The FTSE Bursa Malaysia KLCI Index lost 0.9 percent to 1,618.87 at 11:59 a.m. local time, poised for its lowest close since Dec. 7. It was the worst performer among benchmark indexes in Asia today. The KLCI’s 50-day volatility rose to 8.95, the highest level since Feb. 23. Volumes were 28 percent above the 30-day average at this time of day. Telekom Malaysia Bhd. sank 3.3 percent, leading declines in the stock gauge.

Asian shares and the euro paused on Thursday, marking time ahead of a European Central Bank policy decision and remarks from ECB President Mario Draghi on prospects for the euro zone economy. Commodities fell broadly on Wednesday, retreating from gains posted in the previous session, as a rebounding dollar and increased supplies of some raw materials weighed on prices. Brent crude oil futures posted a modest rise on Wednesday on economic optimism, while U.S. crude prices slipped after data showed an unexpected rise in U.S. crude oil inventories.

The spot month contract  for Kuala Lumpur Index Futures opened lower this morning at 1,591.5 following speculation that the general election will be held after the Lunar New Year. Today’s Support and Resistance for February contract is located around 1,580 and 1,600 respectively.