KLCI futures extend gains at closing in line with firmer cash market

KLCI futures extend gains at closing in line with firmer cash market
Business & Markets 2013
Written by Bernama
Tuesday, 10 September 2013 19:08

KUALA LUMPUR (Sept 10): The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives extended their gains at the close today, in line with firmer performance of the cash market.

Phillip Futures Sdn Bhd Dealer, Tan Sek Wei, said the buying sentiment, boosted by overnight US market, rallied after signs that US-led strike on Syria could be averted.

Besides that, the local bourse also followed the trend of regional markets, after China's data beat forecast.

"However, profit-taking capped the futures contracts' gain today, after the futures index hit its highest level in the morning session.

"The FKLI Sept 13 contracts rose 16 points to close at 1,767, with intra-day high of 1,774.5," Tan told Bernama here.

With the sharp market rally recently, some intermittent pull-back could be expected from time-to-time, especially with the coming US Federal Open Market Committee meeting, said Tan.

At the close, September 2013 contracts increased 16 points to 1,767, October 2013 advanced 18.5 points to 1,768, December 2013 rose 19 points to 1,763.5, and March 2014 went up 22.5 points to 1,756.5.

Turnover improved to 12,244 lots from 11,282 lots on Monday, while open interest rose 55,566 contracts, from 53,992 contracts previously.

Meanwhile, the underlying FBM KLCI was 17.92 points or 1.026 per cent higher, at 1,764.95.