FKLI Related News (Fri, Aug 16)

Share prices on Bursa Malaysia closed marginally lower yesterday on mild selling amid weaker external sentiment, dealers said. The FTSE Bursa Malaysia KLCI (FBM KLCI) moved between 1,791.23 and 1,797.17 during the day before ending at 1,792.21, off 1.52 points. A dealer said the market was volatile throughout the day, with the benchmark index moving sideways below the 1,800-point level, amid bearish regional bourses. “Uncertainty over the stimulus program in the United States kept investors cautious.”          [Bernama]

Stocks finished near their session lows Thursday, with the Dow dropping more than 200 points, as the market continued to speculate about when the Federal Reserve, responding to an improved economy, will start to reduce its generous stimulus to the markets. The Dow Jones Industrial Average tumbled 200 points, dragged down by a 7 percent drop in Cisco. Cisco Systems posted earnings and revenue that edged above Wall Street expectations but shares tumbled heavily after the network equipment maker said it would cut 4,000 jobs in the face of uncertain demand for its products. All key S&P sectors were firmly in negative territory, led by techs and financials.           [CNBC]

Today’s Support and Resistance for FKLI spot month contract is located around 1,780 and 1,800 respectively.