KLCI futures close higher on steadier cash market

KLCI futures close higher on steadier cash market
Business & Markets 2013
Written by Bernama
Wednesday, 11 September 2013 19:12

KUALA LUMPUR (Sept 11): The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contracts on Bursa Malaysia Derivatives closed higher today, in line with the steadier cash market movement.

Phillip Futures Sdn Bhd Dealer, Tan Sek Wei, said market sentiment has been improving lately, especially with the announcement by the US President Barack Obama, on postponing the congressional vote to take military action in Syria.

"The index swung between 1,762 and 1,776.5 today. The gains were limited, as some of the traders booked their after-recently sharp gains.

"The rally in FKLI September 2013 contract seemed to peter out, once it climbed above 1,775," Tan told Bernama today.

At close, September 2013 and October 2013 contracts rose four points each to 1,771 and 1,772, respectively, while December 2013 and March 2014 added three points each to 1,766.5 and 1,759.50, respectively.

Turnover declined to 7,860 lots from 12,244 lots yesterday, while open interest dwindled to 50,024 contracts from 55,566 contracts Tuesday.

As for the underlying FBM KLCI, it rose 3.53 points or 0.2 per cent, to 1,768.48