FKLI Related News (Mon, Apr 1)

Last Friday, the US market was closed for Easter holiday while the Asian markets showed mixed performance amid poor economic data from Japan, and quiet trading due to the Easter holiday with markets in Australia, Hong Kong and Singapore closed.

Share prices on Bursa Malaysia will likely trend lower this week due to an overbought situation. Affin Investment Bank Vice President and Head of Retail Research Dr Nazri Khan said the benchmark FBM KLCI is now ripe for a pullback after hitting an all-time high of 1688 last year. “Uncertainty over the domestic political situation may have had some impact on the Malaysian market, with most investors now expecting the general election to be called any time now,” he told Bernama.

FKLI spot month contract opened higher this morning at 1,666. Today’s Support and Resistance for April contract is located around 1,644 and 1,668 respectively.