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KLCI futures close lower despite cash market's positive performance
by Cals Wed 02 Oct 2013, 19:59
| KLCI futures close lower despite cash market's positive performance |
| Business & Markets 2013 |
| Written by Bernama |
| Wednesday, 02 October 2013 19:24 |
positive performance of the cash market.
Phillip Futures Sdn Bhd Dealer Tan Sek Wei said, late selling of index-linked stocks pushed the FBM KLCI futures spot month contract to close at negative territory.
He said all Asian shares had mostly advanced today, despite the shutdown in the United States due to disagreements on public finances, as investors anticipated the shutdown to be short.
"In near term, we expect the FBM KLCI futures to move in consolidation mode, ahead of Malaysia's 2014 Budget. Trading is likely in the range of 1,750 and 1,790-point level," he added.
At close, October 2013 lost 1.5 points to 1,768.5, and November 2013 declined 2.5 points to 1,768.5.
December 2013 and March 2014 lost three points each to 1,769.5 and 1,764, respectively.
Turnover dwindled to 5,115 lots from yesterday's 7,965, while open interest fell to 44,707 contracts, from 46,939 contracts Tuesday.
The underlying FBM KLCI closed 1.32 points higher, at 1,770.35.
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